Corcept Therapeutics (CORT) Upgraded to Buy by BidaskClub

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BidaskClub upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a hold rating to a buy rating in a research note released on Friday morning.

CORT has been the subject of several other research reports. B. Riley reduced their price target on shares of Corcept Therapeutics from $30.00 to $22.00 and set a buy rating for the company in a research report on Monday, August 13th. Zacks Investment Research lowered shares of Corcept Therapeutics from a hold rating to a sell rating in a research report on Thursday, September 13th. ValuEngine lowered shares of Corcept Therapeutics from a hold rating to a sell rating in a research report on Thursday, July 19th. Cantor Fitzgerald started coverage on shares of Corcept Therapeutics in a research report on Thursday, August 23rd. They set a neutral rating and a $17.00 price target for the company. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $11.00 price target (down previously from $20.00) on shares of Corcept Therapeutics in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $21.83.

Shares of NASDAQ CORT traded down $0.68 during midday trading on Friday, hitting $12.24. 1,643,057 shares of the company’s stock traded hands, compared to its average volume of 1,484,093. Corcept Therapeutics has a 1 year low of $11.55 and a 1 year high of $25.96. The firm has a market capitalization of $1.63 billion, a P/E ratio of 27.82 and a beta of 1.62.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Thursday, August 9th. The biotechnology company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.04). Corcept Therapeutics had a net margin of 68.32% and a return on equity of 38.53%. The business had revenue of $62.31 million for the quarter, compared to analysts’ expectations of $68.49 million. During the same period in the previous year, the company earned $0.13 EPS. Corcept Therapeutics’s revenue for the quarter was up 75.2% compared to the same quarter last year. As a group, analysts forecast that Corcept Therapeutics will post 0.6 EPS for the current fiscal year.

In other news, Director G Leonard Baker, Jr. bought 179,686 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, August 15th. The stock was bought at an average cost of $12.48 per share, with a total value of $2,242,481.28. Following the acquisition, the director now owns 876,838 shares of the company’s stock, valued at approximately $10,942,938.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert S. Fishman sold 8,000 shares of the stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $13.19, for a total transaction of $105,520.00. Following the completion of the sale, the insider now directly owns 8,000 shares of the company’s stock, valued at $105,520. The disclosure for this sale can be found here. Over the last three months, insiders purchased 321,159 shares of company stock valued at $4,025,880 and sold 24,000 shares valued at $335,280. Corporate insiders own 15.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. purchased a new stake in Corcept Therapeutics during the 1st quarter valued at approximately $150,000. Stifel Financial Corp purchased a new stake in Corcept Therapeutics during the 1st quarter valued at approximately $182,000. Envestnet Asset Management Inc. grew its holdings in Corcept Therapeutics by 4,340.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 13,054 shares of the biotechnology company’s stock valued at $216,000 after buying an additional 12,760 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Corcept Therapeutics during the 2nd quarter valued at approximately $213,000. Finally, Stevens Capital Management LP purchased a new stake in Corcept Therapeutics during the 2nd quarter valued at approximately $214,000. 74.78% of the stock is owned by institutional investors.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated, a pharmaceutical company, discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery, as well as develops CLIA-validated assay to measure FKBP5 gene expression.

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Analyst Recommendations for Corcept Therapeutics (NASDAQ:CORT)

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