Corcept Therapeutics (NASDAQ:CORT) Rating Lowered to “Buy” at StockNews.com

Corcept Therapeutics (NASDAQ:CORT) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Monday.

A number of other equities research analysts have also weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. Truist Financial upped their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Piper Sandler upped their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $65.25.

Corcept Therapeutics Trading Up 2.6 %

Shares of CORT traded up $1.49 during mid-day trading on Monday, reaching $59.03. The company’s stock had a trading volume of 1,501,173 shares, compared to its average volume of 1,179,222. The stock has a market cap of $6.19 billion, a PE ratio of 46.85 and a beta of 0.45. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $61.66. The company’s fifty day moving average price is $48.41 and its two-hundred day moving average price is $38.07.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The firm had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS. On average, analysts predict that Corcept Therapeutics will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William Guyer sold 3,394 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $48.97, for a total transaction of $166,204.18. Following the transaction, the insider now directly owns 5,796 shares in the company, valued at approximately $283,830.12. The trade was a 36.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,200 shares of company stock valued at $1,483,516. 20.50% of the stock is currently owned by company insiders.

Institutional Trading of Corcept Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter worth about $25,000. Park Place Capital Corp purchased a new stake in shares of Corcept Therapeutics in the 2nd quarter worth about $32,000. Atwood & Palmer Inc. purchased a new stake in shares of Corcept Therapeutics in the 2nd quarter worth about $35,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter worth about $36,000. Finally, Blue Trust Inc. grew its position in shares of Corcept Therapeutics by 125.4% in the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after buying an additional 1,962 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.