Corcept Therapeutics Incorporated (NASDAQ:CORT) Given Average Rating of "Buy" by Brokerages

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) has been given a consensus rating of "Buy" by the five brokerages that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $138.25.

Several research analysts have weighed in on CORT shares. Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. HC Wainwright lowered their price target on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Piper Sandler raised their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. Canaccord Genuity Group boosted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Finally, Truist Financial set a $135.00 target price on Corcept Therapeutics in a report on Tuesday, May 6th.

Insider Transactions at Corcept Therapeutics

In related news, CEO Joseph K. Belanoff sold 1,974 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $60.83, for a total transaction of $120,078.42. Following the sale, the chief executive officer now owns 3,017,437 shares of the company's stock, valued at $183,550,692.71. This trade represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Maduck sold 100,000 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the transaction, the insider now directly owns 85,622 shares of the company's stock, valued at $8,608,435.88. The trade was a 53.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,125 shares of company stock valued at $23,619,296 in the last ninety days. Corporate insiders own 20.80% of the company's stock.

Hedge Funds Weigh In On Corcept Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in Corcept Therapeutics in the 4th quarter worth approximately $27,000. Canada Pension Plan Investment Board acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $40,000. National Bank of Canada FI purchased a new stake in shares of Corcept Therapeutics in the fourth quarter valued at $42,000. Brooklyn Investment Group increased its stake in Corcept Therapeutics by 99.5% in the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock valued at $43,000 after purchasing an additional 186 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Corcept Therapeutics during the fourth quarter worth about $58,000. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock traded up $0.47 during trading on Friday, reaching $69.98. The company's stock had a trading volume of 1,141,760 shares, compared to its average volume of 1,146,915. The business has a 50 day moving average price of $73.38 and a 200-day moving average price of $63.62. Corcept Therapeutics has a 12-month low of $28.04 and a 12-month high of $117.33. The company has a market capitalization of $7.42 billion, a P/E ratio of 55.54 and a beta of 0.22. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting analysts' consensus estimates of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 million. During the same quarter last year, the company earned $0.25 earnings per share. Corcept Therapeutics's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Corcept Therapeutics will post 1.36 EPS for the current year.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.