Corcept Therapeutics Incorporated (NASDAQ:CORT) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Corcept Therapeutics has received a consensus rating of "Buy" from five brokerages, with an average twelve-month target price of $134.50.
• Insider activity includes the sale of 35,007 shares by insider Sean Maduck and 40,000 shares by CEO Joseph K. Belanoff, indicating significant transactions on August 1st.
• Corcept's recent quarterly earnings report showed $0.29 EPS, surpassing analyst estimates, despite a revenue of $194.43 million which did not meet expectations.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) has been assigned an average rating of "Buy" from the five brokerages that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is $134.50.

Several analysts have commented on CORT shares. Canaccord Genuity Group decreased their price target on shares of Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Piper Sandler decreased their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Finally, Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th.

Insider Activity at Corcept Therapeutics

In other news, insider Sean Maduck sold 35,007 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $67.79, for a total transaction of $2,373,124.53. Following the transaction, the insider owned 7,681 shares in the company, valued at $520,694.99. This represents a 82.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $68.53, for a total transaction of $2,741,200.00. Following the transaction, the chief executive officer owned 2,861,370 shares in the company, valued at approximately $196,089,686.10. This trade represents a 1.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 242,215 shares of company stock worth $17,017,051. 20.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC increased its holdings in shares of Corcept Therapeutics by 3.7% during the first quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company's stock valued at $453,729,000 after acquiring an additional 142,784 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Corcept Therapeutics by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company's stock worth $243,708,000 after buying an additional 57,942 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Corcept Therapeutics by 12.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company's stock worth $69,381,000 after buying an additional 153,100 shares during the last quarter. Invesco Ltd. raised its position in Corcept Therapeutics by 76.5% during the 1st quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company's stock worth $142,345,000 after buying an additional 540,101 shares during the last quarter. Finally, Northern Trust Corp raised its position in Corcept Therapeutics by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,022,001 shares of the biotechnology company's stock worth $116,733,000 after buying an additional 6,486 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $69.36 on Monday. Corcept Therapeutics has a 1-year low of $33.66 and a 1-year high of $117.33. The company has a 50-day moving average of $70.57 and a 200 day moving average of $69.40. The firm has a market cap of $7.31 billion, a PE ratio of 61.38 and a beta of 0.29.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. The business had revenue of $194.43 million during the quarter, compared to analyst estimates of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The company's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Corcept Therapeutics will post 1.36 EPS for the current fiscal year.

Corcept Therapeutics Company Profile

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.

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