Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Has Consensus Target Price of $138.17 According to Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Corcept Therapeutics, with five buy ratings, one strong-buy, one hold and one sell. The average 12-month price target is $138.17, with several firms setting targets between $150 and $165.
• Corcept reported quarterly EPS of $0.36 versus the $0.02 consensus, while revenue reached $256.15 million, up 31.7% year over year and above analyst estimates.
• The stock opened at $121.19, near its 52-week high of $126.38, while institutional investors own 93.61% of shares. Company insiders have sold 444,748 shares worth approximately $51.6 million over the past 90 days.

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) have been given an average rating of "Moderate Buy" by the eight research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $138.17.

A number of research firms have weighed in on CORT. Piper Sandler reissued an "overweight" rating and set a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. HC Wainwright reaffirmed a "buy" rating and issued a $165.00 price target on shares of Corcept Therapeutics in a research report on Friday, September 18th. Truist Financial started coverage on Corcept Therapeutics in a research report on Tuesday, August 18th. They issued a "buy" rating and a $164.00 price target on the stock. Zacks Research upgraded Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 28th. Finally, Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Sean Maduck sold 24,587 shares of the firm's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $116.28, for a total value of $2,858,976.36. Following the sale, the insider owned 9,938 shares of the company's stock, valued at $1,155,590.64. This trade represents a 71.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Roberto Vieira sold 8,333 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $116.10, for a total value of $967,461.30. Following the completion of the transaction, the insider directly owned 3,946 shares in the company, valued at approximately $458,130.60. This represents a 67.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 444,748 shares of company stock worth $51,638,110 in the last 90 days. 20.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Corcept Therapeutics in the 2nd quarter valued at $1,080,964,000. Parallel Advisors LLC grew its position in Corcept Therapeutics by 2.5% in the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company's stock worth $160,329,000 after purchasing an additional 96,763 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Corcept Therapeutics by 213.5% during the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company's stock worth $87,609,000 after purchasing an additional 1,480,059 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Corcept Therapeutics during the 2nd quarter worth about $49,185,000. Finally, Bank of America Corp DE acquired a new position in shares of Corcept Therapeutics during the second quarter valued at about $28,569,000. Institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $121.19 on Tuesday. The firm has a fifty day simple moving average of $115.29 and a 200-day simple moving average of $84.90. Corcept Therapeutics has a 1-year low of $28.66 and a 1-year high of $126.38. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of 288.55 and a beta of 0.40.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.34. The business had revenue of $256.15 million for the quarter, compared to analyst estimates of $221.15 million. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. Corcept Therapeutics's revenue was up 31.7% compared to the same quarter last year. During the same period last year, the business posted $0.29 EPS. As a group, research analysts predict that Corcept Therapeutics will post 1.86 earnings per share for the current year.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company's research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept's principal commercial product is Korlym (mifepristone), a glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing's syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have had unsuccessful surgery.

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