Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $26.83 Average Price Target from Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) has earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $26.71.

CORT has been the topic of several research reports. StockNews.com initiated coverage on Corcept Therapeutics in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Truist Financial decreased their target price on Corcept Therapeutics from $28.00 to $26.00 in a research report on Friday. Jefferies Financial Group downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the company from $35.00 to $22.00 in a research report on Wednesday, February 15th. SVB Securities started coverage on Corcept Therapeutics in a research report on Tuesday, April 11th. They issued a “market perform” rating and a $25.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Corcept Therapeutics in a research report on Wednesday, March 1st.

Insider Buying and Selling

In related news, insider Gary Charles Robb sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $23.87, for a total transaction of $716,100.00. Following the completion of the transaction, the insider now directly owns 33,997 shares of the company’s stock, valued at approximately $811,508.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.80% of the stock is currently owned by insiders.

Institutional Trading of Corcept Therapeutics

A number of institutional investors have recently bought and sold shares of CORT. Dark Forest Capital Management LP purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $31,000. Quadrant Capital Group LLC lifted its holdings in shares of Corcept Therapeutics by 714.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,571 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 1,378 shares during the last quarter. CWM LLC lifted its holdings in shares of Corcept Therapeutics by 392.8% in the 1st quarter. CWM LLC now owns 2,134 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 1,701 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Corcept Therapeutics in the 1st quarter valued at about $47,000. Finally, Altshuler Shaham Ltd lifted its holdings in shares of Corcept Therapeutics by 67.6% in the 3rd quarter. Altshuler Shaham Ltd now owns 2,286 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 922 shares during the last quarter. 80.08% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Down 2.2 %

Corcept Therapeutics stock opened at $23.98 on Wednesday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 29.24 and a beta of 0.50. Corcept Therapeutics has a 52 week low of $17.86 and a 52 week high of $30.14. The business’s 50-day moving average price is $22.78 and its 200 day moving average price is $22.63.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The biotechnology company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). Corcept Therapeutics had a net margin of 22.79% and a return on equity of 19.37%. The business had revenue of $105.70 million during the quarter, compared to analyst estimates of $104.91 million. During the same period in the previous year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts expect that Corcept Therapeutics will post 0.66 EPS for the current year.

Corcept Therapeutics Company Profile

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Corcept Therapeutics, Inc is a commercial-stage pharmaceutical company, which engages in the discovery, development and commercialization of medications to treat severe metabolic, oncologic and psychiatric disorders. It focuses on the development of drugs for disorders that are associated with a steroid hormone called cortisol.