Corcept Therapeutics (NASDAQ:CORT) Trading Up 7.9% – Should You Buy?

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) were up 7.9% during mid-day trading on Tuesday . The company traded as high as $59.48 and last traded at $59.67. Approximately 304,432 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 699,583 shares. The stock had previously closed at $55.31.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial increased their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. StockNews.com lowered 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 reiterated 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, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $65.25.

Corcept Therapeutics Stock Performance

The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 48.40 and a beta of 0.56. The stock has a 50 day simple moving average of $54.73 and a 200 day simple moving average of $45.13. The company has a quick ratio of 3.64, a current ratio of 3.70 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, beating analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.54, for a total transaction of $111,188.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William Guyer sold 3,394 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $48.97, for a total value of $166,204.18. Following the completion of the sale, the insider now owns 5,796 shares of the company’s stock, valued at $283,830.12. This trade represents a 36.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,011 shares of company stock worth $1,951,268. Insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of Corcept Therapeutics by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company’s stock worth $86,952,000 after acquiring an additional 108,658 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Corcept Therapeutics by 15.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 81,801 shares of the biotechnology company’s stock worth $2,658,000 after buying an additional 10,658 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in Corcept Therapeutics during the second quarter valued at about $205,000. Hsbc Holdings PLC boosted its holdings in shares of Corcept Therapeutics by 34.5% in the second quarter. Hsbc Holdings PLC now owns 108,366 shares of the biotechnology company’s stock worth $3,479,000 after buying an additional 27,785 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of Corcept Therapeutics in the second quarter worth about $468,000. 93.61% of the stock is owned by institutional investors and hedge funds.

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.