Brokerages Set Corcept Therapeutics Incorporated (NASDAQ:CORT) Target Price at $138.25

Corcept Therapeutics Incorporated (NASDAQ:CORT) has received an average rating of “Buy” from the five research firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $138.25.

A number of brokerages have recently issued reports on CORT. Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. HC Wainwright lowered their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. Finally, Piper Sandler lifted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday, April 3rd.

Corcept Therapeutics Stock Down 7.6%

CORT stock opened at $71.68 on Friday. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics has a twelve month low of $28.04 and a twelve month high of $117.33. The company’s 50 day moving average is $72.82 and its two-hundred day moving average is $63.53. The stock has a market cap of $7.60 billion, a P/E ratio of 56.89 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $157.21 million for 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 firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. Research analysts expect that Corcept Therapeutics will post 1.36 earnings per share for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 421 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $60.58, for a total value of $25,504.18. Following the completion of the sale, the insider now owns 9,009 shares of the company’s stock, valued at approximately $545,765.22. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Maduck sold 100,000 shares of the firm’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $100.54, for a total value of $10,054,000.00. Following the completion of the sale, the insider now directly owns 85,622 shares of the company’s stock, valued at approximately $8,608,435.88. This trade represents a 53.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,125 shares of company stock worth $23,619,296 in the last three months. Insiders own 20.80% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Investment Management LLC acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth $27,000. Canada Pension Plan Investment Board acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth $40,000. National Bank of Canada FI acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth $42,000. Brooklyn Investment Group raised its stake in shares of Corcept Therapeutics by 99.5% during the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock worth $43,000 after buying an additional 186 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth $58,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.