Corcept Therapeutics (NASDAQ:CORT – Get Free Report) had its target price hoisted by equities research analysts at Truist Financial from $36.00 to $42.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Truist Financial’s price objective indicates a potential upside of 71.71% from the stock’s previous close.
Several other equities analysts have also commented on the stock. HC Wainwright dropped their price target on shares of Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. Canaccord Genuity Group increased their price target on shares of Corcept Therapeutics from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, December 13th. Finally, StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 27th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Corcept Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $33.79.
Check Out Our Latest Stock Analysis on CORT
Corcept Therapeutics Trading Up 1.1 %
Shares of NASDAQ CORT opened at $24.46 on Friday. The company has a 50 day simple moving average of $25.98 and a two-hundred day simple moving average of $27.84. Corcept Therapeutics has a 12 month low of $17.86 and a 12 month high of $34.28. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 30.20 and a beta of 0.46.
Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last released its earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Corcept Therapeutics had a net margin of 20.20% and a return on equity of 18.99%. The firm had revenue of $135.41 million for the quarter, compared to analyst estimates of $129.27 million. During the same period in the prior year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. Analysts forecast that Corcept Therapeutics will post 0.92 EPS for the current year.
Insider Transactions at Corcept Therapeutics
In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total transaction of $48,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the sale, the insider now owns 6,643 shares of the company’s stock, valued at $212,576. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,981 shares of company stock worth $1,278,355. Insiders own 19.80% of the company’s stock.
Institutional Investors Weigh In On Corcept Therapeutics
Hedge funds and other institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV increased its position in shares of Corcept Therapeutics by 11.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 74,680 shares of the biotechnology company’s stock valued at $2,426,000 after buying an additional 7,387 shares in the last quarter. Legal & General Group Plc increased its position in Corcept Therapeutics by 1.3% during the 4th quarter. Legal & General Group Plc now owns 251,463 shares of the biotechnology company’s stock worth $8,168,000 after purchasing an additional 3,276 shares in the last quarter. Barclays PLC grew its holdings in Corcept Therapeutics by 145.4% in the 4th quarter. Barclays PLC now owns 181,551 shares of the biotechnology company’s stock valued at $5,897,000 after buying an additional 107,565 shares during the period. Vanguard Group Inc. grew its holdings in Corcept Therapeutics by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 9,537,532 shares of the biotechnology company’s stock valued at $309,779,000 after buying an additional 239,887 shares during the period. Finally, Voloridge Investment Management LLC grew its holdings in Corcept Therapeutics by 26.1% in the 4th quarter. Voloridge Investment Management LLC now owns 547,297 shares of the biotechnology company’s stock valued at $17,776,000 after buying an additional 113,273 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.
Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe metabolic, oncologic, endocrine, and neurological disorders in the United States. It offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing’s syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.
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