Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $65.25 Average Target Price from Brokerages

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been given a consensus recommendation of “Buy” by the five brokerages that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $65.25.

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

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Douglas Lyon sold 1,411 shares of Corcept Therapeutics stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $56.72, for a total transaction of $80,031.92. Following the sale, the insider now owns 8,494 shares of the company’s stock, valued at approximately $481,779.68. This trade represents a 14.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,811 shares of company stock valued at $1,341,360. 20.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in Corcept Therapeutics by 1.0% in the third quarter. Franklin Resources Inc. now owns 242,791 shares of the biotechnology company’s stock valued at $10,998,000 after purchasing an additional 2,475 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Corcept Therapeutics during the 3rd quarter valued at about $503,000. Geode Capital Management LLC lifted its holdings in shares of Corcept Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock worth $110,108,000 after acquiring an additional 99,470 shares during the period. Executive Wealth Management LLC acquired a new stake in shares of Corcept Therapeutics in the third quarter worth approximately $2,804,000. Finally, Tanaka Capital Management Inc. grew its holdings in Corcept Therapeutics by 11.8% in the third quarter. Tanaka Capital Management Inc. now owns 112,136 shares of the biotechnology company’s stock valued at $5,190,000 after purchasing an additional 11,860 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $55.40 on Friday. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 43.97 and a beta of 0.51. The business’s 50 day moving average is $53.06 and its two-hundred day moving average is $41.15. Corcept Therapeutics has a 12-month low of $20.84 and a 12-month high of $62.22. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data 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. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. During the same quarter in the prior year, the business posted $0.28 earnings per share. Corcept Therapeutics’s revenue was up 47.7% compared to the same quarter last year. Research analysts expect that Corcept Therapeutics will post 1.35 EPS for the current 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.