Corcept Therapeutics (NASDAQ:CORT) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of Corcept Therapeutics (NASDAQ:CORT – Get Rating) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

Separately, HC Wainwright decreased their price objective on Corcept Therapeutics from $33.00 to $30.00 and set a buy rating for the company in a research note on Friday, December 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $31.25.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $22.93 on Tuesday. The stock has a fifty day moving average price of $22.79 and a two-hundred day moving average price of $25.48. Corcept Therapeutics has a 52-week low of $16.47 and a 52-week high of $30.14. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 22.93 and a beta of 0.60.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The firm had revenue of $101.73 million during the quarter, compared to the consensus estimate of $107.73 million. Corcept Therapeutics had a return on equity of 27.49% and a net margin of 29.37%. As a group, research analysts predict that Corcept Therapeutics will post 0.89 EPS for the current fiscal year.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Gary Charles Robb sold 4,814 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $26.03, for a total value of $125,308.42. Following the sale, the insider now owns 21,329 shares in the company, valued at $555,193.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Corcept Therapeutics news, insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $25.57, for a total value of $639,250.00. Following the sale, the insider now owns 56,462 shares in the company, valued at $1,443,733.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Charles Robb sold 4,814 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $26.03, for a total value of $125,308.42. Following the completion of the transaction, the insider now directly owns 21,329 shares in the company, valued at approximately $555,193.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,439 shares of company stock worth $1,040,958. Corporate insiders own 18.60% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Maryland State Retirement & Pension System grew its position in Corcept Therapeutics by 0.9% during the second quarter. Maryland State Retirement & Pension System now owns 38,749 shares of the biotechnology company’s stock worth $921,000 after buying an additional 360 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in Corcept Therapeutics during the third quarter worth approximately $2,212,000. Sei Investments Co. grew its position in Corcept Therapeutics by 3.0% during the second quarter. Sei Investments Co. now owns 14,565 shares of the biotechnology company’s stock worth $394,000 after buying an additional 427 shares in the last quarter. State of Alaska Department of Revenue grew its position in Corcept Therapeutics by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 66,614 shares of the biotechnology company’s stock worth $1,352,000 after buying an additional 619 shares in the last quarter. Finally, Assetmark Inc. grew its position in Corcept Therapeutics by 1.7% during the third quarter. Assetmark Inc. now owns 37,601 shares of the biotechnology company’s stock worth $964,000 after buying an additional 620 shares in the last quarter. Institutional investors and hedge funds own 80.08% of the company’s stock.

About Corcept Therapeutics

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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.