Corcept Therapeutics (NASDAQ:CORT) Hits New 1-Year High Following Analyst Upgrade

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s share price hit a new 52-week high during mid-day trading on Thursday after Canaccord Genuity Group raised their price target on the stock from $78.00 to $130.00. Canaccord Genuity Group currently has a buy rating on the stock. Corcept Therapeutics traded as high as $67.00 and last traded at $66.00, with a volume of 138085 shares. The stock had previously closed at $61.53.

A number of other equities analysts have also recently issued reports on CORT. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Finally, StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $88.25.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.54, for a total value of $111,188.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $1,007,800.00. Following the sale, the insider now owns 85,318 shares in the company, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,405 shares of company stock valued at $1,627,772 over the last three months. Corporate insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CORT. Capital Performance Advisors LLP purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter worth approximately $25,000. Kestra Investment Management LLC bought a new stake in Corcept Therapeutics in the fourth quarter worth $27,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Corcept Therapeutics in the third quarter worth $36,000. USA Financial Formulas bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Corcept Therapeutics in the 4th quarter worth about $58,000. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Trading Down 4.3 %

The firm has a 50-day moving average price of $56.02 and a 200-day moving average price of $46.91. The stock has a market cap of $7.01 billion, a PE ratio of 53.11 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $0.28 earnings per share. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.

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.