BidaskClub upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a hold rating to a buy rating in a research report released on Thursday.
A number of other analysts have also issued reports on CORT. Zacks Investment Research lowered Corcept Therapeutics from a buy rating to a hold rating in a report on Wednesday, January 3rd. Piper Jaffray Companies reaffirmed a buy rating and issued a $24.00 target price on shares of Corcept Therapeutics in a report on Wednesday, October 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $21.00.
Shares of Corcept Therapeutics (CORT) traded down $0.20 during midday trading on Thursday, hitting $20.65. The stock had a trading volume of 1,319,500 shares, compared to its average volume of 1,633,444. The firm has a market cap of $2,360.00, a price-to-earnings ratio of 71.21 and a beta of 1.89. Corcept Therapeutics has a fifty-two week low of $6.70 and a fifty-two week high of $21.00.
Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Thursday, November 2nd. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). The business had revenue of $42.70 million during the quarter, compared to analyst estimates of $41.64 million. Corcept Therapeutics had a net margin of 27.28% and a return on equity of 58.17%. The business’s quarterly revenue was up 96.8% compared to the same quarter last year. During the same period last year, the business earned $0.02 EPS. sell-side analysts forecast that Corcept Therapeutics will post 0.47 EPS for the current year.
In other Corcept Therapeutics news, Director G Leonard Baker, Jr. sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $17.59, for a total value of $527,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert S. Fishman sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $18.67, for a total value of $149,360.00. Following the completion of the sale, the insider now directly owns 8,000 shares in the company, valued at approximately $149,360. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock worth $810,820 in the last ninety days. Insiders own 19.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in CORT. Renaissance Technologies LLC lifted its position in shares of Corcept Therapeutics by 44.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,683,400 shares of the biotechnology company’s stock worth $31,664,000 after acquiring an additional 824,900 shares during the period. Vanguard Group Inc. lifted its position in shares of Corcept Therapeutics by 18.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,440,064 shares of the biotechnology company’s stock worth $52,394,000 after acquiring an additional 689,554 shares during the period. Teachers Advisors LLC lifted its position in shares of Corcept Therapeutics by 316.9% in the 2nd quarter. Teachers Advisors LLC now owns 817,245 shares of the biotechnology company’s stock worth $9,643,000 after acquiring an additional 621,219 shares during the period. Wells Fargo & Company MN lifted its position in shares of Corcept Therapeutics by 644.4% in the 3rd quarter. Wells Fargo & Company MN now owns 715,261 shares of the biotechnology company’s stock worth $13,805,000 after acquiring an additional 619,180 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of Corcept Therapeutics by 3,409.5% in the 2nd quarter. Prudential Financial Inc. now owns 633,223 shares of the biotechnology company’s stock worth $7,472,000 after acquiring an additional 615,180 shares during the period. Institutional investors own 64.64% of the company’s stock.
About Corcept Therapeutics
Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).
Receive News & Ratings for Corcept Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corcept Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.