Corcept Therapeutics Incorporated (NASDAQ:CORT) Given Consensus Recommendation of “Buy” by Brokerages

Corcept Therapeutics Incorporated (NASDAQ:CORTGet Rating) has been assigned an average recommendation of “Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $27.25.

CORT has been the subject of several research reports. Truist Financial initiated coverage on Corcept Therapeutics in a research report on Friday, January 28th. They issued a “buy” rating and a $30.00 target price for the company. Canaccord Genuity Group initiated coverage on Corcept Therapeutics in a research report on Wednesday, February 2nd. They issued a “buy” rating and a $30.00 target price for the company. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $29.00 price objective on shares of Corcept Therapeutics in a research note on Wednesday, February 16th.

Shares of NASDAQ:CORT opened at $18.62 on Friday. The business has a 50-day moving average price of $23.13 and a 200 day moving average price of $21.25. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.84 and a beta of 0.54. Corcept Therapeutics has a 12-month low of $15.82 and a 12-month high of $25.68.

Corcept Therapeutics (NASDAQ:CORTGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The biotechnology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The business had revenue of $93.70 million for the quarter, compared to analyst estimates of $103.23 million. Corcept Therapeutics had a return on equity of 24.23% and a net margin of 29.42%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 earnings per share. On average, sell-side analysts expect that Corcept Therapeutics will post 0.88 EPS for the current year.

In other Corcept Therapeutics news, insider Gary Charles Robb sold 7,512 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $24.68, for a total transaction of $185,396.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 16.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CORT. BlackRock Inc. increased its holdings in shares of Corcept Therapeutics by 2.5% in the first quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company’s stock valued at $347,366,000 after purchasing an additional 376,774 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Corcept Therapeutics by 14.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 82,193 shares of the biotechnology company’s stock valued at $1,851,000 after purchasing an additional 10,462 shares during the period. Rhumbline Advisers increased its holdings in shares of Corcept Therapeutics by 1.6% in the first quarter. Rhumbline Advisers now owns 181,456 shares of the biotechnology company’s stock valued at $4,086,000 after purchasing an additional 2,895 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Corcept Therapeutics by 39.1% in the first quarter. MetLife Investment Management LLC now owns 47,099 shares of the biotechnology company’s stock valued at $1,061,000 after purchasing an additional 13,250 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of Corcept Therapeutics by 3.3% in the first quarter. Acadian Asset Management LLC now owns 31,845 shares of the biotechnology company’s stock valued at $716,000 after purchasing an additional 1,032 shares during the period. 80.03% of the stock is currently owned by institutional investors.

About Corcept Therapeutics (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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