Corcept Therapeutics (CORT) Upgraded by BidaskClub to Buy

Corcept Therapeutics (NASDAQ:CORT) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Several other research firms have also issued reports on CORT. Zacks Investment Research lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Piper Jaffray Companies set a $30.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Stifel Nicolaus began coverage on shares of Corcept Therapeutics in a research report on Thursday, August 31st. They set a “buy” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Corcept Therapeutics has an average rating of “Buy” and an average price target of $18.20.

Shares of Corcept Therapeutics (NASDAQ:CORT) opened at $17.28 on Thursday. The stock has a market cap of $1,943.54, a P/E ratio of 58.72 and a beta of 1.89. Corcept Therapeutics has a 52-week low of $6.70 and a 52-week high of $20.77.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.02). The firm had revenue of $42.70 million for the quarter, compared to analyst estimates of $41.64 million. Corcept Therapeutics had a return on equity of 58.17% and a net margin of 27.28%. The business’s revenue was up 96.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.02 EPS. equities research analysts expect that Corcept Therapeutics will post 0.47 earnings per share for the current year.

In related news, insider Robert S. Fishman sold 8,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $16.72, for a total value of $133,760.00. Following the completion of the transaction, the insider now owns 8,000 shares of the company’s stock, valued at approximately $133,760. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director G Leonard Baker, Jr. sold 30,000 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $17.59, for a total transaction of $527,700.00. The disclosure for this sale can be found here. 19.20% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of CORT. Victory Capital Management Inc. bought a new position in Corcept Therapeutics in the 3rd quarter valued at approximately $108,000. BNP Paribas Arbitrage SA lifted its stake in Corcept Therapeutics by 2,942.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 9,388 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Corcept Therapeutics by 52.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock valued at $116,000 after purchasing an additional 3,390 shares during the last quarter. Sand Hill Global Advisors LLC bought a new position in Corcept Therapeutics in the 2nd quarter valued at approximately $118,000. Finally, Jasper Ridge Partners L.P. bought a new position in Corcept Therapeutics in the 2nd quarter valued at approximately $118,000. 64.71% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This article was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2017/12/14/corcept-therapeutics-cort-upgraded-by-bidaskclub-to-buy.html.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).

Receive News & Ratings for Corcept Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corcept Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply