Corcept Therapeutics (NASDAQ:CORT) Cut to "Hold" at StockNews.com

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Wednesday.

A number of other brokerages have also commented on CORT. Truist Financial set a $135.00 price objective on Corcept Therapeutics in a report on Tuesday, May 6th. HC Wainwright decreased their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Finally, Piper Sandler upped their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.25.

Corcept Therapeutics Stock Performance

Shares of CORT stock traded up $1.72 during trading on Wednesday, reaching $75.08. 1,129,303 shares of the company's stock were exchanged, compared to its average volume of 1,125,012. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $7.96 billion, a PE ratio of 59.59 and a beta of 0.22. Corcept Therapeutics has a twelve month low of $27.30 and a twelve month high of $117.33. The firm's fifty day moving average price is $68.56 and its 200-day moving average price is $61.63.

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, hitting analysts' consensus estimates of $0.17. The business had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. As a group, sell-side analysts anticipate that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 1,974 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $60.83, for a total value of $120,078.42. Following the completion of the transaction, the chief executive officer now directly owns 3,017,437 shares in the company, valued at approximately $183,550,692.71. This trade represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Douglas Lyon sold 421 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.58, for a total value of $25,504.18. Following the completion of the transaction, the insider now owns 9,009 shares of the company's stock, valued at $545,765.22. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 236,738 shares of company stock worth $20,484,994 in the last ninety days. 20.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Large investors have recently bought and sold shares of the company. Synergy Asset Management LLC raised its position in Corcept Therapeutics by 131.3% in the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock valued at $22,369,000 after purchasing an additional 262,503 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $4,483,000. Burney Co. increased its stake in shares of Corcept Therapeutics by 9.1% in the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company's stock valued at $23,876,000 after buying an additional 39,657 shares during the period. HighTower Advisors LLC increased its stake in shares of Corcept Therapeutics by 30.7% in the fourth quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company's stock valued at $4,720,000 after buying an additional 22,011 shares during the period. Finally, Inspire Investing LLC acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $807,000. 93.61% of the stock is currently owned by institutional investors.

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.