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Corcept Therapeutics (NASDAQ:CORT – Get Rating) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.
A number of other equities research analysts have also commented on the stock. Jefferies Financial Group upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $35.00 in a report on Wednesday, July 27th. HC Wainwright lifted their price target on shares of Corcept Therapeutics from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, Truist Financial lowered shares of Corcept Therapeutics to a “hold” rating in a research note on Tuesday, August 9th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $32.00.
Corcept Therapeutics Trading Down 10.4 %
Shares of CORT traded down $2.97 during mid-day trading on Friday, hitting $25.55. 1,473,543 shares of the company traded hands, compared to its average volume of 777,517. Corcept Therapeutics has a one year low of $15.82 and a one year high of $30.14. The business has a 50-day moving average of $26.64 and a 200 day moving average of $24.86. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 3.02 and a beta of 0.56.
Corcept Therapeutics (NASDAQ:CORT – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The business had revenue of $103.39 million during the quarter, compared to the consensus estimate of $101.51 million. Corcept Therapeutics had a net margin of 28.75% and a return on equity of 25.53%. As a group, analysts anticipate that Corcept Therapeutics will post 0.88 earnings per share for the current year.
Insider Activity
In other news, insider Sean Maduck sold 25,000 shares of Corcept Therapeutics stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $25.64, for a total value of $641,000.00. Following the completion of the transaction, the insider now owns 56,462 shares of the company’s stock, valued at approximately $1,447,685.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Sean Maduck sold 25,000 shares of Corcept Therapeutics stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $25.64, for a total value of $641,000.00. Following the completion of the transaction, the insider now owns 56,462 shares of the company’s stock, valued at approximately $1,447,685.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Charles Robb sold 50,000 shares of Corcept Therapeutics stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $26.06, for a total transaction of $1,303,000.00. Following the completion of the transaction, the insider now directly owns 49,544 shares of the company’s stock, valued at approximately $1,291,116.64. The disclosure for this sale can be found here. Insiders sold a total of 75,200 shares of company stock valued at $1,949,740 in the last quarter. Company insiders own 18.60% of the company’s stock.
Institutional Trading of Corcept Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Gravity Asset Management Inc. bought a new stake in shares of Corcept Therapeutics during the 3rd quarter worth about $2,212,000. Duality Advisers LP bought a new stake in shares of Corcept Therapeutics during the 3rd quarter worth about $450,000. Teacher Retirement System of Texas boosted its holdings in shares of Corcept Therapeutics by 374.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 76,520 shares of the biotechnology company’s stock worth $1,962,000 after buying an additional 60,389 shares during the period. Barclays PLC boosted its holdings in Corcept Therapeutics by 8.9% in the 3rd quarter. Barclays PLC now owns 83,619 shares of the biotechnology company’s stock valued at $2,145,000 after purchasing an additional 6,863 shares during the period. Finally, Cim LLC boosted its holdings in Corcept Therapeutics by 7.4% in the 3rd quarter. Cim LLC now owns 14,380 shares of the biotechnology company’s stock valued at $431,000 after purchasing an additional 996 shares during the period. Institutional investors own 78.46% of the company’s stock.
Corcept Therapeutics Company Profile
(Get Rating)
Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric 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.
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