Corcept Therapeutics (NASDAQ:CORT) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
A number of other equities research analysts have also weighed in on CORT. B. Riley assumed coverage on Corcept Therapeutics in a report on Thursday, March 8th. They issued a “buy” rating and a $30.00 price objective on the stock. Stifel Nicolaus lowered their price objective on Corcept Therapeutics from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Piper Jaffray Companies set a $30.00 price objective on Corcept Therapeutics and gave the company a “buy” rating in a report on Monday, February 5th. Finally, Zacks Investment Research lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.80.
Shares of Corcept Therapeutics (CORT) opened at $18.26 on Thursday. Corcept Therapeutics has a twelve month low of $8.90 and a twelve month high of $25.96. The firm has a market capitalization of $2,060.00, a P/E ratio of 14.27 and a beta of 2.02.
Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.02). Corcept Therapeutics had a net margin of 81.11% and a return on equity of 53.35%. The business had revenue of $53.30 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same period in the prior year, the firm posted $0.04 EPS. Corcept Therapeutics’s revenue for the quarter was up 123.9% compared to the same quarter last year. analysts predict that Corcept Therapeutics will post 0.92 earnings per share for the current year.
In related news, Director Renee D. Gala purchased 10,000 shares of Corcept Therapeutics stock in a transaction dated Wednesday, March 7th. The stock was bought at an average cost of $15.51 per share, for a total transaction of $155,100.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $15,510. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert S. Fishman sold 8,000 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $16.60, for a total transaction of $132,800.00. Following the sale, the insider now owns 8,000 shares of the company’s stock, valued at $132,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,000 shares of company stock valued at $407,520. Insiders own 19.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of CORT. BlackRock Inc. lifted its position in shares of Corcept Therapeutics by 47.0% during the 4th quarter. BlackRock Inc. now owns 11,399,287 shares of the biotechnology company’s stock valued at $205,871,000 after acquiring an additional 3,642,737 shares during the period. Consonance Capital Management LP lifted its position in shares of Corcept Therapeutics by 48.9% during the 4th quarter. Consonance Capital Management LP now owns 5,779,506 shares of the biotechnology company’s stock valued at $104,378,000 after acquiring an additional 1,897,283 shares during the period. Renaissance Technologies LLC lifted its position in shares of Corcept Therapeutics by 35.0% during the 4th quarter. Renaissance Technologies LLC now owns 4,954,500 shares of the biotechnology company’s stock valued at $89,478,000 after acquiring an additional 1,284,745 shares during the period. Old Mutual Global Investors UK Ltd. lifted its position in shares of Corcept Therapeutics by 230.5% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,065,527 shares of the biotechnology company’s stock valued at $19,243,000 after acquiring an additional 743,145 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Corcept Therapeutics by 644.4% during the 3rd quarter. Wells Fargo & Company MN now owns 715,261 shares of the biotechnology company’s stock valued at $13,805,000 after acquiring an additional 619,180 shares during the period. Institutional investors own 77.22% of the company’s stock.
Corcept Therapeutics Company Profile
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).
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