Corcept Therapeutics (NASDAQ:CORT) Reaches New 1-Year High – What’s Next?

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) reached a new 52-week high on Wednesday . The stock traded as high as $75.00 and last traded at $72.86, with a volume of 219338 shares traded. The stock had previously closed at $72.60.

Wall Street Analysts Forecast Growth

CORT has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research note on Friday, February 7th. Canaccord Genuity Group raised 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. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $88.25.

Corcept Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The company has a 50 day simple moving average of $58.97 and a 200-day simple moving average of $50.25. The firm has a market cap of $6.66 billion, a PE ratio of 50.43 and a beta of 0.58.

Insider Activity

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $59.46, for a total value of $130,812.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 85,318 shares in the company, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,600 shares of company stock valued at $1,399,576. Corporate insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

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

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.