Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Has Consensus Target Price of $139.50 According to Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $139.50.

Several analysts have recently commented on the company. Truist Financial assumed coverage on Corcept Therapeutics in a research report on Tuesday, August 18th. They issued a “buy” rating and a $164.00 target price for the company. Canaccord Genuity Group upped their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Zacks Research downgraded Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Piper Sandler restated an “overweight” rating and set a $173.00 price objective (up from $165.00) on shares of Corcept Therapeutics in a research report on Wednesday, November 4th. Finally, Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research report on Monday, July 27th.

Corcept Therapeutics Price Performance

Shares of CORT opened at $75.03 on Friday. The company has a 50-day moving average of $106.80 and a two-hundred day moving average of $75.85. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 62.38 and a beta of 0.54. Corcept Therapeutics has a one year low of $28.66 and a one year high of $126.38.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Tuesday, November 3rd. The biotechnology company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.17. Corcept Therapeutics had a net margin of 16.53% and a return on equity of 22.56%. The firm had revenue of $340.47 million during the quarter, compared to analyst estimates of $339.12 million. During the same quarter last year, the business posted $0.16 EPS. The company’s revenue was up 64.0% on a year-over-year basis. Analysts anticipate that Corcept Therapeutics will post 1.97 earnings per share for the current year.

Insider Activity at Corcept Therapeutics

In related news, insider Roberto Vieira sold 8,333 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $80.89, for a total transaction of $674,056.37. Following the transaction, the insider directly owned 3,946 shares of the company’s stock, valued at approximately $319,191.94. The trade was a 67.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James N. Wilson sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $114.81, for a total transaction of $1,148,100.00. Following the completion of the transaction, the director owned 1,054,543 shares in the company, valued at approximately $121,072,081.83. This represents a 0.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 365,205 shares of company stock valued at $41,439,575 over the last ninety days. 20.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Corcept Therapeutics during the second quarter valued at $1,080,964,000. Parallel Advisors LLC increased its position in Corcept Therapeutics by 2.5% in the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after purchasing an additional 96,763 shares during the last quarter. First Trust Advisors LP increased its position in Corcept Therapeutics by 213.5% in the 1st 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. Bank of New York Mellon Corp acquired a new position in Corcept Therapeutics in the 2nd quarter worth about $49,185,000. Finally, Principal Financial Group Inc. raised its stake in shares of Corcept Therapeutics by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 455,248 shares of the biotechnology company’s stock worth $18,351,000 after purchasing an additional 11,156 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a biopharmaceutical company focused on developing medicines that modulate the effects of cortisol, a hormone involved in the body’s response to stress and in several disease processes. Founded in 1998, the company conducts research and develops treatments for conditions in which cortisol may play a role.

Its marketed product, Korlym (mifepristone), is approved in the United States to control high blood sugar in adults with endogenous Cushing’s syndrome who have type 2 diabetes or glucose intolerance and are not candidates for surgery or have not benefited from it.