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

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) have been assigned an average recommendation of "Buy" from the five analysts that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $138.25.

CORT has been the topic of several analyst reports. 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 boosted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a report on Thursday, April 3rd. Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Finally, Wall Street Zen cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th.

Corcept Therapeutics Price Performance

CORT opened at $70.86 on Friday. Corcept Therapeutics has a fifty-two week low of $32.33 and a fifty-two week high of $117.33. The company's 50 day moving average price is $72.75 and its two-hundred day moving average price is $67.23. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 61.09 and a beta of 0.15.

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

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 40,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $82.86, for a total transaction of $3,314,400.00. Following the transaction, the chief executive officer directly owned 2,901,985 shares in the company, valued at approximately $240,458,477.10. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William Guyer sold 32,262 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $74.17, for a total transaction of $2,392,872.54. Following the transaction, the insider owned 5,487 shares of the company's stock, valued at approximately $406,970.79. This represents a 85.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,233 shares of company stock worth $17,016,443 over the last 90 days. Company insiders own 20.80% of the company's stock.

Institutional Investors Weigh In On Corcept Therapeutics

Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its holdings in Corcept Therapeutics by 269.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company's stock worth $144,000 after acquiring an additional 2,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in Corcept Therapeutics during the 1st quarter valued at approximately $331,000. JPMorgan Chase & Co. lifted its holdings in shares of Corcept Therapeutics by 2.7% in the 4th quarter. JPMorgan Chase & Co. now owns 259,902 shares of the biotechnology company's stock valued at $13,096,000 after acquiring an additional 6,832 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in Corcept Therapeutics in the 1st quarter worth about $355,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Corcept Therapeutics in the 1st quarter worth about $384,000. Hedge funds and other institutional investors own 93.61% of the company's stock.

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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