Piper Sandler Issues Positive Forecast for Corcept Therapeutics (NASDAQ:CORT) Stock Price

Corcept Therapeutics (NASDAQ:CORT) had its target price increased by Piper Sandler from $67.00 to $78.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other research firms also recently commented on CORT. HC Wainwright restated a “buy” rating and set a $115.00 target price on shares of Corcept Therapeutics in a research report on Thursday. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Finally, Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Buy” and a consensus price target of $99.75.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $59.85 on Thursday. The business’s 50 day moving average is $59.60 and its 200-day moving average is $51.16. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $6.27 billion, a PE ratio of 47.50 and a beta of 0.58. Corcept Therapeutics has a 1-year low of $20.84 and a 1-year high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Sell-side analysts predict that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total value of $130,812.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the transaction, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,600 shares of company stock worth $1,399,576. Insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Investment Management LLC bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at about $27,000. Capital Performance Advisors LLP bought a new position in Corcept Therapeutics in the third quarter valued at approximately $25,000. Canada Pension Plan Investment Board acquired a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $40,000. National Bank of Canada FI acquired a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $42,000. Finally, USA Financial Formulas bought a new position in Corcept Therapeutics during the 4th quarter worth about $54,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Company Profile

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.