BidaskClub upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a hold rating to a buy rating in a research report sent to investors on Saturday.
CORT has been the subject of a number of other reports. B. Riley started coverage on Corcept Therapeutics in a report on Thursday, March 8th. They set a buy rating and a $30.00 target price for the company. Stifel Nicolaus lowered their target price on Corcept Therapeutics from $25.00 to $20.00 and set a buy rating for the company in a report on Monday, February 5th. Seaport Global Securities started coverage on Corcept Therapeutics in a report on Friday, April 13th. They set a buy rating and a $32.00 target price for the company. ValuEngine upgraded Corcept Therapeutics from a hold rating to a buy rating in a report on Monday, May 14th. Finally, Zacks Investment Research upgraded Corcept Therapeutics from a hold rating to a buy rating and set a $19.00 target price for the company in a report on Friday, April 27th. Eight equities research analysts have rated the stock with a buy rating, The company has an average rating of Buy and an average price target of $25.17.
Shares of Corcept Therapeutics stock opened at $18.56 on Friday. Corcept Therapeutics has a 12 month low of $10.40 and a 12 month high of $25.96. The stock has a market cap of $2.14 billion, a P/E ratio of 35.69 and a beta of 1.92.
Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, May 8th. The biotechnology company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Corcept Therapeutics had a return on equity of 46.78% and a net margin of 75.05%. The company had revenue of $57.66 million during the quarter, compared to analysts’ expectations of $58.18 million. During the same period last year, the business posted $0.06 EPS. Corcept Therapeutics’s revenue for the quarter was up 108.9% on a year-over-year basis. equities analysts anticipate that Corcept Therapeutics will post 0.73 earnings per share for the current fiscal year.
In related news, Director Renee D. Gala acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was acquired at an average price of $15.51 per share, for a total transaction of $155,100.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $15,510. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director G Leonard Baker, Jr. sold 30,000 shares of Corcept Therapeutics stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $16.01, for a total value of $480,300.00. The disclosure for this sale can be found here. Insiders sold a total of 54,000 shares of company stock valued at $876,860 in the last quarter. Company insiders own 15.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CORT. Dimensional Fund Advisors LP boosted its stake in shares of Corcept Therapeutics by 41.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,204,325 shares of the biotechnology company’s stock valued at $23,242,000 after buying an additional 355,006 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth about $737,000. Bank of Montreal Can raised its position in shares of Corcept Therapeutics by 188.3% during the 4th quarter. Bank of Montreal Can now owns 78,310 shares of the biotechnology company’s stock worth $1,415,000 after acquiring an additional 51,149 shares in the last quarter. Creative Planning raised its position in shares of Corcept Therapeutics by 79.7% during the 4th quarter. Creative Planning now owns 27,161 shares of the biotechnology company’s stock worth $491,000 after acquiring an additional 12,049 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Corcept Therapeutics by 16.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 480,924 shares of the biotechnology company’s stock worth $8,686,000 after acquiring an additional 66,749 shares in the last quarter. Institutional investors and hedge funds own 75.98% of the company’s stock.
Corcept Therapeutics Company Profile
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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