Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) has earned a consensus rating of “Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $138.25.
CORT has been the subject of a number of research reports. Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a report on Tuesday, May 6th. Piper Sandler raised their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday, April 3rd. HC Wainwright dropped their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, April 1st.
Read Our Latest Report on Corcept Therapeutics
Corcept Therapeutics Trading Up 0.6%
Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last posted its earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $157.21 million during the quarter, compared to analysts’ expectations of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. Analysts predict that Corcept Therapeutics will post 1.36 EPS for the current fiscal year.
Insiders Place Their Bets
In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 2,924 shares of the firm’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 transaction of $178,100.84. Following the completion of the transaction, the chief executive officer now owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Guyer sold 32,262 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $74.17, for a total transaction of $2,392,872.54. Following the transaction, the insider now owns 5,487 shares of the company’s stock, valued at approximately $406,970.79. The trade was a 85.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 296,352 shares of company stock worth $24,908,205. 20.50% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp bought a new position in Corcept Therapeutics during the 4th quarter worth approximately $4,483,000. HighTower Advisors LLC grew its position in shares of Corcept Therapeutics by 30.7% during the 4th quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company’s stock worth $4,720,000 after buying an additional 22,011 shares during the period. New York State Teachers Retirement System grew its position in shares of Corcept Therapeutics by 3.0% during the 4th quarter. New York State Teachers Retirement System now owns 128,232 shares of the biotechnology company’s stock worth $6,462,000 after buying an additional 3,789 shares during the period. JPMorgan Chase & Co. grew its position in shares of Corcept Therapeutics by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 259,902 shares of the biotechnology company’s stock worth $13,096,000 after buying an additional 6,832 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $12,084,000. Institutional investors own 93.61% of the company’s stock.
About Corcept Therapeutics
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.
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