Brokerages Set Corcept Therapeutics Incorporated (NASDAQ:CORT) Target Price at $94.67

Corcept Therapeutics Incorporated (NASDAQ:CORT) has received an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $119.1667.

A number of equities research analysts have recently weighed in on the stock. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Truist Financial raised Corcept Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a report on Monday, July 27th.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director David L. Mahoney sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $84.53, for a total value of $1,690,600.00. Following the transaction, the director directly owned 26,147 shares in the company, valued at $2,210,205.91. This represents a 43.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Douglas Lyon sold 1,540 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $114.16, for a total transaction of $175,806.40. Following the sale, the insider directly owned 5,495 shares in the company, valued at approximately $627,309.20. The trade was a 21.89% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 381,845 shares of company stock worth $32,733,040. 20.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in Corcept Therapeutics by 2.5% during the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after acquiring an additional 96,763 shares in the last quarter. State Street Corp boosted its stake in Corcept Therapeutics by 0.5% in the fourth quarter. State Street Corp now owns 2,986,056 shares of the biotechnology company’s stock valued at $103,915,000 after acquiring an additional 15,656 shares in the last quarter. Geode Capital Management LLC boosted its stake in Corcept Therapeutics by 38.0% in the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after acquiring an additional 734,646 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Corcept Therapeutics by 213.5% during the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after purchasing an additional 1,480,059 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Corcept Therapeutics by 34.1% during the fourth quarter. Morgan Stanley now owns 1,592,059 shares of the biotechnology company’s stock worth $55,404,000 after purchasing an additional 405,081 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $110.69 on Thursday. Corcept Therapeutics has a 1 year low of $28.66 and a 1 year high of $122.21. The stock has a market capitalization of $11.97 billion, a PE ratio of 263.55 and a beta of 0.45. The stock has a 50-day simple moving average of $87.69 and a 200-day simple moving average of $58.49.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The firm had revenue of $256.15 million for the quarter, compared to analyst estimates of $221.15 million. During the same period in the prior year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. Analysts predict that Corcept Therapeutics will post 1.13 EPS for the current year.

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.