Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $143.25 Consensus Target Price from Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been given an average recommendation of “Buy” by the five research firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $143.25.

Several analysts recently weighed in on CORT shares. Piper Sandler lifted their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday, April 3rd. Canaccord Genuity Group increased their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. HC Wainwright raised their price objective on Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 31st. Finally, Truist Financial increased their price target on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 31st.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $69.59 on Friday. 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 $117.33. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 55.23 and a beta of 0.15. The firm’s 50-day moving average is $65.73 and its 200 day moving average is $58.04.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million during the quarter, compared to analysts’ expectations of $200.12 million. Research analysts predict that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Activity at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph K. Belanoff sold 2,924 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the sale, the chief executive officer now owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,124 shares of company stock valued at $15,117,614 in the last three months. 20.50% of the stock is owned by insiders.

Institutional Trading of Corcept Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Investment Management LLC purchased a new position in shares of Corcept Therapeutics during the fourth quarter worth $27,000. Canada Pension Plan Investment Board purchased a new stake in shares of Corcept Therapeutics in the fourth quarter worth about $40,000. National Bank of Canada FI acquired a new stake in Corcept Therapeutics during the fourth quarter worth about $42,000. USA Financial Formulas purchased a new position in Corcept Therapeutics during the fourth quarter valued at approximately $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Corcept Therapeutics in the fourth quarter valued at approximately $58,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.