Corcept Therapeutics Incorporated (NASDAQ:CORT) Given Average Recommendation of “Buy” by Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT) has earned a consensus rating of “Buy” from the five research firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $88.25.

CORT has been the topic of several recent analyst reports. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research note on Friday, February 7th. Finally, StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th.

Corcept Therapeutics Stock Up 1.3 %

Shares of CORT opened at $73.53 on Thursday. The business’s 50 day moving average is $58.79 and its 200 day moving average is $50.15. 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 company has a market capitalization of $7.70 billion, a PE ratio of 58.36 and a beta of 0.58.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the transaction, the insider now directly owns 85,318 shares of the company’s stock, valued at $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction 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. Insiders sold 28,011 shares of company stock valued at $1,479,608 in the last three months. Corporate insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Cache Advisors LLC bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at approximately $378,000. Public Employees Retirement System of Ohio grew its position in Corcept Therapeutics by 269.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company’s stock valued at $144,000 after acquiring an additional 2,086 shares during the last quarter. Vise Technologies Inc. purchased a new stake in Corcept Therapeutics in the fourth quarter worth $204,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Corcept Therapeutics by 11.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 224,713 shares of the biotechnology company’s stock worth $11,323,000 after purchasing an additional 22,361 shares during the last quarter. Finally, Teza Capital Management LLC bought a new position in shares of Corcept Therapeutics in the fourth quarter worth about $212,000. 93.61% of the stock is currently owned by institutional investors.

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.