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

Corcept Therapeutics Incorporated (NASDAQ:CORTGet Free Report) has earned an average rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $33.79.

CORT has been the topic of a number of research analyst reports. HC Wainwright reduced their target price on Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, January 2nd. StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 24th. Truist Financial upped their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, Canaccord Genuity Group upped their price target on Corcept Therapeutics from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, December 13th.

Read Our Latest Stock Report on Corcept Therapeutics

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $22.11, for a total transaction of $48,642.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Sean Maduck sold 17,219 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $25.00, for a total transaction of $430,475.00. Following the transaction, the insider now directly owns 75,222 shares of the company’s stock, valued at approximately $1,880,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $22.11, for a total value of $48,642.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,887 shares of company stock worth $1,308,371. Insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Linden Thomas Advisory Services LLC raised its holdings in Corcept Therapeutics by 0.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 56,116 shares of the biotechnology company’s stock worth $1,529,000 after purchasing an additional 368 shares during the period. AQR Capital Management LLC raised its holdings in Corcept Therapeutics by 0.5% in the 3rd quarter. AQR Capital Management LLC now owns 79,945 shares of the biotechnology company’s stock worth $2,178,000 after purchasing an additional 416 shares during the period. Sei Investments Co. raised its holdings in Corcept Therapeutics by 3.0% in the 2nd quarter. Sei Investments Co. now owns 14,565 shares of the biotechnology company’s stock worth $394,000 after purchasing an additional 427 shares during the period. Quadrant Capital Group LLC raised its holdings in Corcept Therapeutics by 27.0% in the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 448 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Corcept Therapeutics by 9.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock worth $192,000 after purchasing an additional 500 shares during the period. 78.80% of the stock is owned by institutional investors.

Corcept Therapeutics Stock Performance

CORT stock opened at $24.50 on Tuesday. Corcept Therapeutics has a fifty-two week low of $20.87 and a fifty-two week high of $34.28. The business’s 50 day moving average price is $23.29 and its two-hundred day moving average price is $26.51. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 25.79 and a beta of 0.47.

Corcept Therapeutics (NASDAQ:CORTGet Free Report) last posted its earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The firm had revenue of $135.41 million for the quarter, compared to the consensus estimate of $129.27 million. During the same quarter in the prior year, the business earned $0.14 EPS. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. Sell-side analysts forecast that Corcept Therapeutics will post 0.92 earnings per share for the current year.

Corcept Therapeutics Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Corcept Therapeutics (NASDAQ:CORT)

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