Piper Jaffray Companies set a $30.00 price objective on Corcept Therapeutics (NASDAQ:CORT) in a report released on Monday, February 5th. The brokerage currently has a buy rating on the biotechnology company’s stock.
Several other equities research analysts also recently weighed in on CORT. Zacks Investment Research downgraded Corcept Therapeutics from a buy rating to a hold rating in a report on Tuesday, October 10th. BidaskClub cut Corcept Therapeutics from a buy rating to a hold rating in a research report on Thursday, December 7th. Finally, Stifel Nicolaus cut their price objective on Corcept Therapeutics from $25.00 to $20.00 and set a buy rating for the company in a research report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $21.00.
Shares of Corcept Therapeutics (NASDAQ:CORT) opened at $15.20 on Monday. Corcept Therapeutics has a fifty-two week low of $8.14 and a fifty-two week high of $25.96. The firm has a market capitalization of $1,665.07, a price-to-earnings ratio of 50.31 and a beta of 1.68.
In related news, insider Robert S. Fishman sold 8,000 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $16.72, for a total transaction of $133,760.00. Following the sale, the insider now owns 8,000 shares of the company’s stock, valued at $133,760. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 24,000 shares of company stock valued at $415,920. Company insiders own 19.20% of the company’s stock.
Large investors have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new stake in Corcept Therapeutics in the 3rd quarter worth about $108,000. Macquarie Group Ltd. acquired a new stake in Corcept Therapeutics in the 3rd quarter worth about $137,000. FNY Managed Accounts LLC acquired a new position in shares of Corcept Therapeutics in the 3rd quarter valued at about $173,000. PNC Financial Services Group Inc. lifted its stake in shares of 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 in the last quarter. Finally, Caxton Associates LP acquired a new position in shares of Corcept Therapeutics in the 3rd quarter valued at about $199,000. 65.99% of the stock is currently owned by hedge funds and other institutional investors.
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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).
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