Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been given an average rating of “Hold” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.00.
A number of brokerages have commented on CORT. Zacks Investment Research downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research report on Tuesday, June 23rd. Jefferies Financial Group downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research report on Wednesday, August 5th. BidaskClub downgraded Corcept Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 26th. ValuEngine upgraded Corcept Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, September 2nd. Finally, TheStreet upgraded Corcept Therapeutics from a “c+” rating to a “b-” rating in a research report on Tuesday, May 19th.
In related news, Director G Leonard Baker, Jr. bought 20,444 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was acquired at an average cost of $12.48 per share, with a total value of $255,141.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director G Leonard Baker, Jr. bought 25,807 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was bought at an average cost of $12.50 per share, with a total value of $322,587.50. The disclosure for this purchase can be found here. Corporate insiders own 16.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its stake in shares of Corcept Therapeutics by 1,325.8% in the first quarter. Deutsche Bank AG now owns 883,545 shares of the biotechnology company’s stock valued at $10,505,000 after buying an additional 821,578 shares in the last quarter. AJO LP grew its stake in shares of Corcept Therapeutics by 6,679.5% in the first quarter. AJO LP now owns 515,311 shares of the biotechnology company’s stock valued at $6,127,000 after buying an additional 507,710 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Corcept Therapeutics by 74.5% in the second quarter. Jacobs Levy Equity Management Inc. now owns 869,400 shares of the biotechnology company’s stock valued at $14,623,000 after buying an additional 371,270 shares in the last quarter. Oxford Financial Group Ltd. bought a new position in shares of Corcept Therapeutics in the first quarter valued at $3,953,000. Finally, Aviva PLC bought a new position in shares of Corcept Therapeutics in the first quarter valued at $3,767,000. 76.31% of the stock is owned by hedge funds and other institutional investors.
Shares of CORT opened at $17.72 on Friday. The stock’s 50-day moving average price is $15.22 and its 200 day moving average price is $14.21. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 19.15 and a beta of 0.98. Corcept Therapeutics has a 12-month low of $9.70 and a 12-month high of $23.48.
Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Corcept Therapeutics had a return on equity of 29.10% and a net margin of 32.49%. The company had revenue of $88.60 million during the quarter, compared to the consensus estimate of $90.13 million. During the same quarter last year, the company earned $0.25 EPS. The company’s quarterly revenue was up 23.1% on a year-over-year basis. On average, equities research analysts expect that Corcept Therapeutics will post 0.9 earnings per share for the current fiscal year.
Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.
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