Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Corcept Therapeutics has a consensus analyst rating of “Moderate Buy”, with four buy ratings, one strong buy, and three hold ratings across eight firms. The average 12-month price target is about $70.83.
• The company recently reported a Q1 earnings miss, posting EPS of -$0.30 versus expectations of -$0.11 and revenue of $164.9 million versus the $185.83 million estimate. Revenue still rose 4.9% year over year, and analysts expect full-year EPS of 0.48.
• Insider and institutional activity has been active: Director G. Leonard Baker Jr. bought 100,000 shares, while insider William Guyer sold 20,000 shares. Meanwhile, hedge funds and other institutions now own 93.61% of the stock.

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $70.8333.

CORT has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. Truist Financial upgraded shares of Corcept Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 25th. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Zacks Research upgraded shares of Corcept Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, May 4th. Finally, Wolfe Research raised shares of Corcept Therapeutics from an "underperform" rating to a "peer perform" rating in a report on Thursday, March 26th.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $56.37 on Friday. The company has a fifty day moving average of $42.33 and a two-hundred day moving average of $53.09. The stock has a market capitalization of $6.05 billion, a PE ratio of 161.06 and a beta of 0.36. Corcept Therapeutics has a fifty-two week low of $28.66 and a fifty-two week high of $91.00.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.19). The company had revenue of $164.90 million for the quarter, compared to analyst estimates of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The business's revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 earnings per share. Research analysts forecast that Corcept Therapeutics will post 0.48 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, Director G Leonard Baker, Jr. bought 100,000 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was acquired at an average price of $33.14 per share, with a total value of $3,314,000.00. Following the completion of the acquisition, the director directly owned 1,146,631 shares of the company's stock, valued at $37,999,351.34. This represents a 9.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Guyer sold 20,000 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $51.83, for a total transaction of $1,036,600.00. Following the completion of the sale, the insider directly owned 2,231 shares of the company's stock, valued at $115,632.73. This represents a 89.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 86,198 shares of company stock valued at $3,887,769 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Corcept Therapeutics by 223.4% in the third quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company's stock valued at $70,632,000 after purchasing an additional 587,053 shares during the period. Brown Capital Management LLC purchased a new position in Corcept Therapeutics during the third quarter worth about $19,950,000. Allspring Global Investments Holdings LLC boosted its stake in Corcept Therapeutics by 111.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 507,967 shares of the biotechnology company's stock worth $19,404,000 after buying an additional 268,155 shares during the period. First Trust Advisors LP boosted its stake in Corcept Therapeutics by 34.1% during the third quarter. First Trust Advisors LP now owns 720,224 shares of the biotechnology company's stock worth $59,858,000 after buying an additional 183,038 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in Corcept Therapeutics by 13.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 365,838 shares of the biotechnology company's stock worth $30,405,000 after buying an additional 44,070 shares during the period. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

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