Corcept Therapeutics Incorporated (NASDAQ:CORT) Given Consensus Rating of “Buy” by Brokerages

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have earned an average recommendation of “Buy” from the five brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $65.25.

Several research analysts have commented on CORT shares. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research note on Thursday, October 31st. StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Finally, Truist Financial raised their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 30th.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Guyer sold 3,394 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $48.97, for a total value of $166,204.18. Following the completion of the transaction, the insider now owns 5,796 shares of the company’s stock, valued at approximately $283,830.12. The trade was a 36.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,301 shares of company stock worth $1,594,253. Corporate insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds have recently made changes to their positions in CORT. Janney Montgomery Scott LLC bought a new stake in shares of Corcept Therapeutics during the first quarter valued at approximately $706,000. Texas Permanent School Fund Corp raised its holdings in Corcept Therapeutics by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 79,390 shares of the biotechnology company’s stock worth $2,000,000 after purchasing an additional 1,435 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in Corcept Therapeutics by 5.2% during the first quarter. Illinois Municipal Retirement Fund now owns 52,460 shares of the biotechnology company’s stock worth $1,321,000 after purchasing an additional 2,608 shares in the last quarter. Swiss National Bank raised its holdings in Corcept Therapeutics by 0.7% during the first quarter. Swiss National Bank now owns 172,965 shares of the biotechnology company’s stock worth $4,357,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Corcept Therapeutics during the first quarter worth approximately $371,000. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Trading Up 1.5 %

Shares of CORT opened at $52.62 on Tuesday. 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 firm has a market capitalization of $5.51 billion, a P/E ratio of 41.76 and a beta of 0.45. The stock’s fifty day simple moving average is $46.46 and its 200 day simple moving average is $36.99. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $61.66.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $171.97 million. During the same period last year, the company posted $0.28 earnings per share. The firm’s revenue was up 47.7% compared to the same quarter last year. On average, equities research analysts forecast that Corcept Therapeutics will post 1.31 earnings per share for the current year.

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.