Corcept Therapeutics (NASDAQ:CORT) Price Target Raised to $78.00 at Piper Sandler

Corcept Therapeutics (NASDAQ:CORT) had its price objective increased by Piper Sandler from $67.00 to $78.00 in a research note published on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the biotechnology company’s stock.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group lifted their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. HC Wainwright reiterated a “buy” rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a report on Thursday. Finally, StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $99.75.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $59.85 on Thursday. The business’s fifty day simple moving average is $59.60 and its 200 day simple moving average is $51.16. 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 has a 12 month low of $20.84 and a 12 month high of $75.00. The firm has a market capitalization of $6.27 billion, a P/E ratio of 47.50 and a beta of 0.58.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. As a group, analysts anticipate that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the company’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 directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,600 shares of company stock worth $1,399,576. Company insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors have recently bought and sold shares of CORT. Norges Bank bought a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $42,055,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Corcept Therapeutics by 40.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after buying an additional 352,947 shares in the last quarter. Braun Stacey Associates Inc. bought a new stake in shares of Corcept Therapeutics during the 4th quarter valued at $14,935,000. FMR LLC grew its position in shares of Corcept Therapeutics by 24.6% in the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after buying an additional 269,074 shares during the period. Finally, Synergy Asset Management LLC increased its stake in shares of Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock worth $22,369,000 after acquiring an additional 262,503 shares in the last quarter. 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.