Analysts Set Corcept Therapeutics Incorporated (NASDAQ:CORT) Target Price at $65.25

Corcept Therapeutics Incorporated (NASDAQ:CORT) has earned a consensus rating of “Buy” from the five analysts that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $65.25.

CORT has been the subject of a number of research analyst reports. Truist Financial increased their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Piper Sandler lifted their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Finally, Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th.

Corcept Therapeutics Stock Down 0.8 %

Corcept Therapeutics stock opened at $51.25 on Wednesday. The stock’s 50 day moving average price is $54.69 and its 200 day moving average price is $43.77. Corcept Therapeutics has a 1-year low of $20.84 and a 1-year high of $62.22. The company has a market cap of $5.37 billion, a PE ratio of 40.67 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business’s revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. On average, sell-side analysts predict that Corcept Therapeutics will post 1.35 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $59.46, for a total value of $130,812.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the transaction, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,811 shares of company stock valued at $1,840,080 over the last quarter. Insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Range Financial Group LLC purchased a new stake in Corcept Therapeutics in the 4th quarter valued at about $1,081,000. GAMMA Investing LLC boosted its position in shares of Corcept Therapeutics by 20.3% in the fourth quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock worth $151,000 after acquiring an additional 506 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Corcept Therapeutics by 43.4% in the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock valued at $11,712,000 after purchasing an additional 76,573 shares during the period. Franklin Resources Inc. increased its position in Corcept Therapeutics by 1.0% during the third quarter. Franklin Resources Inc. now owns 242,791 shares of the biotechnology company’s stock worth $10,998,000 after purchasing an additional 2,475 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new position in Corcept Therapeutics during the third quarter worth approximately $503,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

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.