Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $80.8333.

Several analysts have recently commented on the stock. HC Wainwright lowered their target price on shares of Corcept Therapeutics from $145.00 to $90.00 and set a “buy” rating for the company in a report on Friday, January 2nd. UBS Group assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price objective for the company. Wall Street Zen downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Zacks Research raised Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 29th.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $37.50 on Friday. The firm has a market capitalization of $3.94 billion, a P/E ratio of 42.61 and a beta of 0.23. Corcept Therapeutics has a 52 week low of $32.99 and a 52 week high of $117.33. The stock has a 50 day moving average price of $72.85 and a two-hundred day moving average price of $73.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The company had revenue of $207.64 million for the quarter, compared to analysts’ expectations of $223.78 million. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. Equities analysts forecast that Corcept Therapeutics will post 1.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider William Guyer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $35.18, for a total value of $703,600.00. Following the transaction, the insider directly owned 1,235 shares of the company’s stock, valued at approximately $43,447.30. The trade was a 94.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $79.77, for a total transaction of $3,190,800.00. Following the transaction, the chief executive officer owned 2,701,370 shares of the company’s stock, valued at approximately $215,488,284.90. The trade was a 1.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 194,500 shares of company stock valued at $14,186,410. 20.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds have recently modified their holdings of CORT. Royal Bank of Canada grew its holdings in Corcept Therapeutics by 18.9% during the first quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock valued at $1,757,000 after purchasing an additional 2,444 shares during the period. Amundi purchased a new position in shares of Corcept Therapeutics during the 1st quarter valued at $450,000. NewEdge Advisors LLC bought a new position in shares of Corcept Therapeutics during the 1st quarter worth $518,000. Focus Partners Wealth increased its holdings in Corcept Therapeutics by 0.5% in the 1st quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company’s stock worth $3,797,000 after acquiring an additional 170 shares during the last quarter. Finally, Advisors Capital Management LLC bought a new stake in Corcept Therapeutics in the 1st quarter valued at about $251,000. Institutional investors own 93.61% of the company’s stock.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.