Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives Average Recommendation of "Buy" from Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) has earned an average recommendation of "Buy" from the five ratings firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $138.25.

Several analysts recently commented on the company. Wall Street Zen lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Canaccord Genuity Group raised their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. HC Wainwright dropped their target price 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 target price on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. Finally, Truist Financial set a $135.00 target price on Corcept Therapeutics in a report on Tuesday, May 6th.

Corcept Therapeutics Stock Up 3.4%

Shares of NASDAQ:CORT opened at $76.77 on Wednesday. Corcept Therapeutics has a 52-week low of $29.42 and a 52-week high of $117.33. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 66.18 and a beta of 0.19. The business has a 50-day moving average price of $71.84 and a 200-day moving average price of $64.98.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Corcept Therapeutics had a return on equity of 20.40% and a net margin of 19.33%. The firm had revenue of $157.21 million during the quarter, compared to analysts' expectations of $177.93 million. During the same period last year, the business posted $0.25 earnings per share. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that Corcept Therapeutics will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $70.22, for a total value of $154,484.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sean Maduck sold 26,554 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $72.23, for a total value of $1,917,995.42. Following the completion of the sale, the insider now directly owns 85,622 shares in the company, valued at approximately $6,184,477.06. The trade was a 23.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 359,930 shares of company stock valued at $30,363,655. Company insiders own 20.50% of the company's stock.

Institutional Trading of Corcept Therapeutics

Several institutional investors have recently bought and sold shares of CORT. Canada Pension Plan Investment Board purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $40,000. National Bank of Canada FI purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $42,000. Brooklyn Investment Group lifted its position in shares of 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 acquiring an additional 186 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Corcept Therapeutics by 63.6% in the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock valued at $63,000 after acquiring an additional 483 shares in the last quarter. Finally, Gen Wealth Partners Inc purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $67,000. 93.61% of the stock is owned by institutional investors and hedge funds.

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.

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