Corcept Therapeutics Incorporated (NASDAQ:CORT) Given Average Rating of “Buy” by Brokerages

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have earned an average rating of “Buy” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $65.25.

Several equities research analysts have recently issued reports on CORT shares. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, October 31st. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Truist Financial boosted their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th.

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.88, for a total transaction of $131,736.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William Guyer sold 6,606 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $48.97, for a total value of $323,495.82. Following the completion of the sale, the insider now directly owns 5,796 shares of the company’s stock, valued at approximately $283,830.12. The trade was a 53.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,011 shares of company stock valued at $1,951,268 in the last three months. 20.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its stake in Corcept Therapeutics by 0.6% in the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after purchasing an additional 19,893 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Corcept Therapeutics by 4.4% in the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after buying an additional 99,470 shares during the last quarter. FMR LLC boosted its stake in shares of Corcept Therapeutics by 24.6% during the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after acquiring an additional 269,074 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Corcept Therapeutics by 40.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock worth $56,637,000 after acquiring an additional 352,947 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Corcept Therapeutics by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,487 shares of the biotechnology company’s stock worth $47,506,000 after acquiring an additional 53,191 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $59.99 on Friday. The stock’s fifty day simple moving average is $55.16 and its 200 day simple moving average is $45.88. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $6.29 billion, a PE ratio of 47.61 and a beta of 0.56. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $62.98.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same quarter last year, the firm posted $0.28 earnings per share. Corcept Therapeutics’s revenue was up 47.7% compared to the same quarter last year. On average, research analysts predict that Corcept Therapeutics will post 1.35 EPS for the current year.

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.