Corcept Therapeutics (NASDAQ:CORT) Reaches New 1-Year High – What’s Next?

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $95.68 and last traded at $95.5090, with a volume of 92458 shares. The stock had previously closed at $91.57.

Analyst Upgrades and Downgrades

CORT has been the topic of a number of analyst reports. UBS Group set a $135.00 target price on Corcept Therapeutics in a research report on Thursday, May 28th. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. HC Wainwright increased their price objective on Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Truist Financial raised Corcept Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Corcept Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Corcept Therapeutics Stock Performance

The firm has a market cap of $10.15 billion, a price-to-earnings ratio of 270.07 and a beta of 0.47. The business has a fifty day moving average of $77.28 and a two-hundred day moving average of $52.95.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The firm had revenue of $164.90 million for the quarter, compared to analyst estimates of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $88.35, for a total value of $2,208,750.00. Following the sale, the insider owned 9,755 shares of the company’s stock, valued at $861,854.25. This represents a 71.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Guyer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $93.13, for a total transaction of $1,862,600.00. Following the completion of the sale, the insider owned 3,985 shares in the company, valued at $371,123.05. This represents a 83.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 300,000 shares of company stock worth $22,088,050. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of large investors have recently bought and sold shares of the stock. Torren Management LLC acquired a new position in shares of Corcept Therapeutics in the fourth quarter worth $25,000. Advisory Services Network LLC acquired a new stake in shares of Corcept Therapeutics during the third quarter valued at $25,000. Atlas Capital Advisors Inc. purchased a new stake in Corcept Therapeutics during the 4th quarter worth about $31,000. State of Wyoming increased its position in Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 186 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in Corcept Therapeutics by 113.7% in the 4th quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 524 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.