BidaskClub upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a hold rating to a buy rating in a research note issued to investors on Friday morning.
Several other equities analysts have also recently issued reports on the company. Seaport Global Securities began coverage on Corcept Therapeutics in a research report on Friday, April 13th. They issued a buy rating and a $32.00 price target on the stock. B. Riley began coverage on Corcept Therapeutics in a research report on Thursday, March 8th. They issued a buy rating and a $30.00 price target on the stock. Piper Jaffray set a $30.00 price target on Corcept Therapeutics and gave the company a buy rating in a research report on Monday, February 5th. Stifel Nicolaus dropped their price target on Corcept Therapeutics from $25.00 to $20.00 and set a buy rating on the stock in a research report on Monday, February 5th. Finally, Zacks Investment Research cut Corcept Therapeutics from a buy rating to a hold rating in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Corcept Therapeutics has a consensus rating of Buy and an average price target of $24.33.
CORT opened at $17.42 on Friday. Corcept Therapeutics has a one year low of $8.99 and a one year high of $25.96. The stock has a market cap of $2,019.86, a PE ratio of 39.59 and a beta of 1.88.
Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Thursday, February 22nd. The biotechnology company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.02). Corcept Therapeutics had a return on equity of 53.35% and a net margin of 81.11%. The firm had revenue of $53.30 million for the quarter, compared to analyst estimates of $53.30 million. During the same quarter last year, the firm posted $0.04 EPS. The firm’s revenue for the quarter was up 123.9% on a year-over-year basis. research analysts forecast that Corcept Therapeutics will post 0.96 EPS for the current fiscal year.
In related news, insider Robert S. Fishman sold 8,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $16.60, for a total value of $132,800.00. Following the transaction, the insider now owns 8,000 shares in the company, valued at approximately $132,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Renee D. Gala purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was bought at an average price of $15.51 per share, for a total transaction of $155,100.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $15,510. The disclosure for this purchase can be found here. Insiders sold a total of 24,000 shares of company stock worth $387,920 in the last 90 days. 19.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. We Are One Seven LLC acquired a new position in Corcept Therapeutics during the 4th quarter worth approximately $106,000. Macquarie Group Ltd. acquired a new position in Corcept Therapeutics during the 3rd quarter worth approximately $137,000. CAPROCK Group Inc. acquired a new position in Corcept Therapeutics during the 4th quarter worth approximately $214,000. OppenheimerFunds Inc. acquired a new position in Corcept Therapeutics during the 4th quarter worth approximately $230,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Corcept Therapeutics during the 4th quarter worth approximately $234,000. Institutional investors own 77.81% of the company’s stock.
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About Corcept Therapeutics
Corcept Therapeutics Incorporated, a pharmaceutical company, discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery, as well as develops CLIA-validated assay to measure FKBP5 gene expression.
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