Corcept Therapeutics (NASDAQ:CORT) Earns “Buy” Rating from HC Wainwright

Corcept Therapeutics (NASDAQ:CORT)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $115.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 81.47% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Canaccord Genuity Group upped their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Corcept Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $97.00.

Corcept Therapeutics Trading Up 3.5 %

Shares of Corcept Therapeutics stock opened at $63.37 on Thursday. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 50.29 and a beta of 0.58. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $75.00. The company’s fifty day simple moving average is $59.60 and its 200-day simple moving average is $51.16. 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 (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. As a group, sell-side analysts expect that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Transactions at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.54, for a total value of $111,188.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the sale, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,600 shares of company stock valued at $1,399,576. Corporate insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Corcept Therapeutics in the fourth quarter valued at about $42,055,000. Jacobs Levy Equity Management Inc. increased its position in Corcept Therapeutics by 40.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after acquiring an additional 352,947 shares in the last quarter. Braun Stacey Associates Inc. bought a new position in shares of Corcept Therapeutics in the fourth quarter worth about $14,935,000. FMR LLC lifted its position in shares of Corcept Therapeutics by 24.6% during the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after purchasing an additional 269,074 shares in the last quarter. Finally, Synergy Asset Management LLC grew its stake in shares of Corcept Therapeutics by 131.3% during the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after purchasing an additional 262,503 shares during the last quarter. 93.61% of the stock is owned by institutional investors.

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.