Corcept Therapeutics (NASDAQ:CORT) Shares Gap Up – Should You Buy?

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) gapped up prior to trading on Thursday . The stock had previously closed at $36.31, but opened at $41.51. Corcept Therapeutics shares last traded at $41.2310, with a volume of 2,669,408 shares changing hands.

Analyst Ratings Changes

A number of research firms have weighed in on CORT. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Monday, December 29th. Zacks Research cut shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. UBS Group began coverage on shares of Corcept Therapeutics in a report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price objective for the company. Truist Financial set a $50.00 price objective on shares of Corcept Therapeutics in a research report on Wednesday, December 31st. Finally, Wolfe Research lowered shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 target price on the stock. in a report on Wednesday, December 31st. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Corcept Therapeutics currently has an average rating of “Hold” and a consensus price target of $83.33.

Corcept Therapeutics Price Performance

The company has a fifty day moving average of $66.56 and a 200-day moving average of $71.47. The company has a current ratio of 3.14, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01. The stock has a market cap of $4.38 billion, a PE ratio of 47.38 and a beta of 0.23.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The firm had revenue of $207.64 million for the quarter, compared to analysts’ expectations of $223.78 million. During the same quarter last year, the business earned $0.41 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. Sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $79.52, for a total transaction of $1,590,400.00. Following the completion of the transaction, the insider owned 7,904 shares in the company, valued at $628,526.08. The trade was a 71.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $73.65, for a total transaction of $368,250.00. Following the completion of the sale, the insider directly owned 10,277 shares in the company, valued at approximately $756,901.05. This represents a 32.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 194,500 shares of company stock worth $14,186,410. 20.80% of the stock is owned by corporate insiders.

Institutional Trading of Corcept Therapeutics

Several institutional investors have recently modified their holdings of CORT. Advisory Services Network LLC purchased a new position in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $25,000. Clearstead Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 163.6% in the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 193 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Corcept Therapeutics during the second quarter worth about $28,000. Hantz Financial Services Inc. raised its holdings in Corcept Therapeutics by 598.5% during the third quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 395 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Corcept Therapeutics by 2,326.3% in the 3rd quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.