Corcept Therapeutics’ (CORT) Buy Rating Reiterated at HC Wainwright

Corcept Therapeutics (NASDAQ:CORT)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $80.00 target price on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 17.58% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and a consensus price target of $88.25.

Corcept Therapeutics Stock Down 0.6 %

Shares of CORT opened at $68.04 on Friday. The company has a 50-day simple moving average of $56.72 and a 200-day simple moving average of $47.85. The firm has a market capitalization of $7.13 billion, a P/E ratio of 54.00 and a beta of 0.58. 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 has a 52 week low of $20.84 and a 52 week high of $71.29.

Insiders Place Their Bets

In other news, insider Joseph Douglas Lyon sold 1,411 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the sale, the insider now directly owns 8,494 shares of the company’s stock, valued at $481,779.68. This represents a 14.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $59.46, for a total transaction of $130,812.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,011 shares of company stock valued at $1,461,568. 20.50% of the stock is currently owned by insiders.

Institutional Trading of Corcept Therapeutics

Hedge funds have recently modified their holdings of the stock. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics in the fourth quarter valued at approximately $27,000. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics in the third quarter valued at approximately $25,000. Kathleen S. Wright Associates Inc. acquired a new position in Corcept Therapeutics in the third quarter valued at approximately $36,000. USA Financial Formulas acquired a new position in Corcept Therapeutics in the fourth quarter valued at approximately $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Corcept Therapeutics in the fourth quarter valued at approximately $58,000. 93.61% of the stock is owned by institutional investors.

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.