Corcept Therapeutics Inc. (NASDAQ:CORT) received a $12.00 target price from Piper Jaffray Cos. in a report released on Wednesday. The firm currently has a a “buy” rating on the stock. Piper Jaffray Cos.’s price target indicates a potential upside of 84.62% from the stock’s current price.
CORT has been the topic of a number of other reports. FBR & Co reiterated a “buy” rating on shares of Corcept Therapeutics in a research note on Thursday, August 4th. Zacks Investment Research upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a research note on Tuesday.
Shares of Corcept Therapeutics (NASDAQ:CORT) traded up 3.85% during midday trading on Wednesday, hitting $6.75. 431,246 shares of the company were exchanged. Corcept Therapeutics has a one year low of $3.22 and a one year high of $6.90. The stock has a market cap of $746.51 million, a PE ratio of 750.00 and a beta of 1.41. The stock’s 50-day moving average is $6.12 and its 200-day moving average is $5.60.
Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Tuesday, August 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Corcept Therapeutics had a net margin of 2.06% and a return on equity of 19.40%. The business had revenue of $19.70 million for the quarter, compared to analyst estimates of $18.36 million. Equities research analysts anticipate that Corcept Therapeutics will post $0.04 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. Guggenheim Capital LLC increased its stake in shares of Corcept Therapeutics by 5.3% in the second quarter. Guggenheim Capital LLC now owns 29,791 shares of the company’s stock worth $163,000 after buying an additional 1,501 shares during the period. BlackRock Advisors LLC increased its stake in shares of Corcept Therapeutics by 14.3% in the second quarter. BlackRock Advisors LLC now owns 37,135 shares of the company’s stock worth $203,000 after buying an additional 4,637 shares during the period. American International Group Inc. increased its stake in shares of Corcept Therapeutics by 18.6% in the second quarter. American International Group Inc. now owns 43,003 shares of the company’s stock worth $235,000 after buying an additional 6,753 shares during the period. Nationwide Fund Advisors increased its stake in shares of Corcept Therapeutics by 17.3% in the second quarter. Nationwide Fund Advisors now owns 48,502 shares of the company’s stock worth $265,000 after buying an additional 7,141 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Corcept Therapeutics by 20.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 48,807 shares of the company’s stock worth $228,000 after buying an additional 8,203 shares during the period. 41.33% of the stock is owned by hedge funds and other institutional investors.
Corcept Therapeutics Company Profile
Corcept Therapeutics Inc is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company’s focus is on those disorders that are associated with a steroid hormone cortisol. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders.
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