Corcept Therapeutics Incorporated (CORT) Receives Average Rating of “Hold” from Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT) has been given an average recommendation of “Hold” by the eight research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $22.40.

A number of equities analysts recently issued reports on CORT shares. ValuEngine upgraded Corcept Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. Zacks Investment Research cut Corcept Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. BidaskClub upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, September 1st. Stifel Nicolaus restated a “hold” rating and set a $11.00 price objective (down previously from $20.00) on shares of Corcept Therapeutics in a report on Friday, August 10th. Finally, B. Riley dropped their price objective on Corcept Therapeutics from $30.00 to $22.00 and set a “buy” rating for the company in a report on Monday, August 13th.

CORT remained flat at $$13.04 during trading hours on Monday. The company had a trading volume of 641,187 shares, compared to its average volume of 837,876. Corcept Therapeutics has a one year low of $11.21 and a one year high of $25.96. The stock has a market cap of $1.51 billion, a PE ratio of 29.64 and a beta of 1.74.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, November 1st. The biotechnology company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). Corcept Therapeutics had a net margin of 63.79% and a return on equity of 32.96%. The business had revenue of $64.45 million for the quarter, compared to analysts’ expectations of $67.42 million. During the same quarter in the previous year, the firm earned $0.10 EPS. Corcept Therapeutics’s revenue was up 50.7% compared to the same quarter last year. As a group, equities analysts anticipate that Corcept Therapeutics will post 0.6 EPS for the current fiscal year.

In other Corcept Therapeutics news, insider Robert S. Fishman sold 8,000 shares of the company’s stock in a transaction on Monday, October 8th. The stock was sold at an average price of $13.19, for a total value of $105,520.00. Following the completion of the sale, the insider now directly owns 8,000 shares in the company, valued at approximately $105,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director G Leonard Baker, Jr. bought 17,428 shares of the stock in a transaction on Friday, November 9th. The stock was purchased at an average price of $13.00 per share, with a total value of $226,564.00. Following the completion of the acquisition, the director now directly owns 894,266 shares in the company, valued at approximately $11,625,458. The disclosure for this purchase can be found here. Insiders acquired a total of 317,428 shares of company stock valued at $4,089,564 over the last quarter. Company insiders own 15.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Intrust Bank NA lifted its holdings in shares of Corcept Therapeutics by 32.0% in the 2nd quarter. Intrust Bank NA now owns 15,286 shares of the biotechnology company’s stock worth $240,000 after buying an additional 3,704 shares during the period. Teachers Advisors LLC lifted its holdings in shares of Corcept Therapeutics by 1.3% in the 3rd quarter. Teachers Advisors LLC now owns 294,763 shares of the biotechnology company’s stock worth $4,133,000 after buying an additional 3,917 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in shares of Corcept Therapeutics by 34.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 17,360 shares of the biotechnology company’s stock worth $273,000 after buying an additional 4,400 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Corcept Therapeutics by 3.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 127,166 shares of the biotechnology company’s stock worth $1,782,000 after purchasing an additional 4,413 shares during the last quarter. Finally, Texas Permanent School Fund lifted its stake in shares of Corcept Therapeutics by 7.6% during the 3rd quarter. Texas Permanent School Fund now owns 66,448 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 4,718 shares during the last quarter. Institutional investors and hedge funds own 77.02% 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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Analyst Recommendations for Corcept Therapeutics (NASDAQ:CORT)

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