Corcept Therapeutics (NASDAQ:CORT) Now Covered by UBS Group

UBS Group began coverage on shares of Corcept Therapeutics (NASDAQ:CORT) in a research note published on Tuesday morning, MarketBeat reports. The firm issued a hold rating and a $95.00 price objective on the biotechnology company’s stock.

Several other research analysts have also recently commented on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $140.00 price target on shares of Corcept Therapeutics in a report on Thursday, September 25th. Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday. Wall Street Zen lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Wolfe Research initiated coverage on Corcept Therapeutics in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Monday. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $127.20.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $82.28 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 3.07. The company has a market cap of $8.66 billion, a price-to-earnings ratio of 93.50 and a beta of 0.20. The stock’s 50-day moving average is $77.95 and its two-hundred day moving average is $74.86. Corcept Therapeutics has a 1-year low of $49.00 and a 1-year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The company had revenue of $207.64 million during the quarter, compared to analysts’ expectations of $223.78 million. During the same quarter in the previous year, the business posted $0.41 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Analysts forecast that Corcept Therapeutics will post 1.36 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $80.08, for a total transaction of $1,601,600.00. Following the transaction, the insider owned 1,235 shares of the company’s stock, valued at approximately $98,898.80. This trade represents a 94.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $79.52, for a total value of $1,590,400.00. Following the sale, the insider owned 7,904 shares in the company, valued at $628,526.08. This trade represents a 71.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 261,700 shares of company stock valued at $21,002,348 in the last ninety days. 20.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in shares of Corcept Therapeutics in the 3rd quarter valued at $25,000. Clearstead Advisors LLC boosted its stake in Corcept Therapeutics by 163.6% during the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 193 shares during the period. Golden State Wealth Management LLC purchased a new position in Corcept Therapeutics during the 2nd quarter worth $28,000. Huntington National Bank grew its position in Corcept Therapeutics by 54.0% during the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 168 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in Corcept Therapeutics by 598.5% in the third quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 395 shares during the period. Hedge funds and other institutional investors 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.