Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives Consensus Recommendation of “Buy” from Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT) has been given an average rating of “Buy” by the five research firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $88.25.

Several brokerages recently commented on CORT. Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research report on Friday, February 7th.

Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the sale, the insider now directly owns 85,318 shares in the company, valued at $4,299,174.02. The trade was a 18.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,600 shares of company stock valued at $1,399,576. 20.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Black Diamond Financial LLC grew its stake in Corcept Therapeutics by 4.0% in the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock valued at $262,000 after acquiring an additional 200 shares during the period. Quadrant Capital Group LLC grew its stake in Corcept Therapeutics by 9.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company’s stock valued at $150,000 after acquiring an additional 257 shares during the period. Summit Investment Advisors Inc. grew its stake in Corcept Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company’s stock valued at $426,000 after acquiring an additional 268 shares during the period. Hancock Whitney Corp grew its stake in Corcept Therapeutics by 1.2% in the 3rd quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after acquiring an additional 270 shares during the period. Finally, Arizona State Retirement System grew its stake in Corcept Therapeutics by 1.1% in the 4th quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock valued at $1,374,000 after acquiring an additional 289 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $61.81 on Thursday. The firm has a market capitalization of $6.48 billion, a P/E ratio of 49.06 and a beta of 0.58. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average price of $59.26 and a 200 day moving average price of $50.88. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $75.00.

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.