Brokerages Set Corcept Therapeutics Incorporated (NASDAQ:CORT) PT at $77.17

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been given a consensus rating of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $77.1667.

CORT has been the topic of several research reports. HC Wainwright decreased their price objective on shares of Corcept Therapeutics from $105.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, February 20th. UBS Group initiated coverage on shares of Corcept Therapeutics in a report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price target on the stock. Truist Financial set a $50.00 price objective on Corcept Therapeutics in a report on Wednesday, December 31st. Canaccord Genuity Group upped their target price on Corcept Therapeutics from $99.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Finally, Wolfe Research cut Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price target for the company. in a report on Wednesday, December 31st.

Corcept Therapeutics Stock Down 0.5%

Shares of CORT stock opened at $33.87 on Monday. Corcept Therapeutics has a 52-week low of $28.66 and a 52-week high of $117.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.85 and a current ratio of 2.92. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 41.31 and a beta of 0.29. The firm’s 50-day moving average is $39.59 and its 200-day moving average is $64.39.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.13). Corcept Therapeutics had a net margin of 12.96% and a return on equity of 15.19%. The business had revenue of $202.13 million during the quarter, compared to the consensus estimate of $254.94 million. During the same quarter in the prior year, the company earned $0.26 EPS. Corcept Therapeutics’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts predict that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 8,233 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $35.99, for a total transaction of $296,305.67. Following the transaction, the insider owned 2,231 shares in the company, valued at $80,293.69. This represents a 78.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 48,233 shares of company stock valued at $1,817,306. Insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Torren Management LLC acquired a new position in Corcept Therapeutics in the fourth quarter valued at about $25,000. Advisory Services Network LLC bought a new position in Corcept Therapeutics in the 3rd quarter valued at about $25,000. Clearstead Advisors LLC raised its position in shares of Corcept Therapeutics by 163.6% in the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 193 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Corcept Therapeutics during the 2nd quarter worth approximately $28,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $31,000. 93.61% of the stock is currently owned by institutional investors.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.