Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $65.25 Consensus PT from Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT) has received an average rating of “Buy” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $65.25.

A number of research analysts have issued reports on the stock. Truist Financial upped their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Piper Sandler raised their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $50.85 on Wednesday. Corcept Therapeutics has a 12-month low of $20.84 and a 12-month high of $62.22. The stock has a market cap of $5.33 billion, a P/E ratio of 40.36 and a beta of 0.56. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $54.57 and a two-hundred day moving average of $43.36.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share 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 company had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. During the same quarter last year, the business posted $0.28 earnings per share. Corcept Therapeutics’s revenue was up 47.7% compared to the same quarter last year. As a group, research analysts predict that Corcept Therapeutics will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Joseph Douglas Lyon sold 1,411 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 8,494 shares of the company’s stock, valued at approximately $481,779.68. This represents a 14.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Guyer sold 6,606 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $48.97, for a total value of $323,495.82. Following the completion of the transaction, the insider now directly owns 5,796 shares in the company, valued at $283,830.12. This trade represents a 53.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,811 shares of company stock valued at $832,280. 20.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of large investors have recently modified their holdings of CORT. nVerses Capital LLC boosted its holdings in Corcept Therapeutics by 62.5% in the 2nd quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company’s stock worth $127,000 after acquiring an additional 1,500 shares during the period. Natixis Advisors LLC grew its holdings in Corcept Therapeutics by 16.0% during the 2nd quarter. Natixis Advisors LLC now owns 20,660 shares of the biotechnology company’s stock valued at $671,000 after purchasing an additional 2,854 shares in the last quarter. Arizona State Retirement System increased its stake in Corcept Therapeutics by 8.3% during the 2nd quarter. Arizona State Retirement System now owns 26,081 shares of the biotechnology company’s stock worth $847,000 after buying an additional 2,001 shares during the period. Synergy Asset Management LLC acquired a new position in Corcept Therapeutics in the 2nd quarter worth $219,000. Finally, Savant Capital LLC boosted its position in Corcept Therapeutics by 44.0% in the 2nd quarter. Savant Capital LLC now owns 18,325 shares of the biotechnology company’s stock valued at $595,000 after buying an additional 5,602 shares during the last quarter. Institutional investors and hedge funds 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.