Piper Sandler Increases Corcept Therapeutics (NASDAQ:CORT) Price Target to $67.00

Corcept Therapeutics (NASDAQ:CORT) had its price target raised by equities research analysts at Piper Sandler from $38.00 to $67.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target suggests a potential upside of 63.73% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. HC Wainwright raised their target price on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Truist Financial restated a “buy” rating and set a $65.00 price objective on shares of Corcept Therapeutics in a research report on Monday, June 17th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $53.75.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $40.92 on Wednesday. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $43.74. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 38.60 and a beta of 0.45. The business’s fifty day moving average is $35.16 and its 200-day moving average is $29.86.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The firm had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 earnings per share. As a group, research analysts forecast that Corcept Therapeutics will post 1.1 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the transaction, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $233,528.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Joseph Douglas Lyon sold 5,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $32.49, for a total value of $162,450.00. Following the sale, the insider now directly owns 9,290 shares of the company’s stock, valued at approximately $301,832.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider William Guyer sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the sale, the insider now owns 6,039 shares of the company’s stock, valued at $233,528.13. The disclosure for this sale can be found here. Insiders sold 30,451 shares of company stock worth $1,090,844 over the last three months. Company insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

A number of institutional investors have recently bought and sold shares of CORT. GAMMA Investing LLC raised its position in shares of Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 579 shares in the last quarter. Park Place Capital Corp bought a new stake in Corcept Therapeutics in the second quarter worth approximately $32,000. Atwood & Palmer Inc. acquired a new position in Corcept Therapeutics in the second quarter valued at approximately $35,000. FinTrust Capital Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 318.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,348 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of Corcept Therapeutics by 27.0% during the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock worth $68,000 after buying an additional 448 shares during the period. 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.