Piper Sandler Issues Positive Forecast for Corcept Therapeutics (NASDAQ:CORT) Stock Price

Corcept Therapeutics (NASDAQ:CORT) had its target price upped by Piper Sandler from $67.00 to $78.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target indicates a potential upside of 23.09% from the company’s current price.

Several other equities research analysts also recently commented on CORT. HC Wainwright reissued a “buy” rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a report on Thursday. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Finally, Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $99.75.

Corcept Therapeutics Stock Up 3.5 %

Shares of CORT stock opened at $63.37 on Thursday. The firm’s fifty day moving average price is $59.60 and its two-hundred day moving average price is $51.16. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $75.00. The firm has a market capitalization of $6.64 billion, a P/E ratio of 50.29 and a beta of 0.58.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. On average, equities analysts predict that Corcept Therapeutics will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Maduck sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the transaction, the insider now owns 85,318 shares in the company, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,600 shares of company stock valued at $1,399,576. 20.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CORT. Kestra Investment Management LLC acquired a new stake in Corcept Therapeutics in the 4th quarter worth about $27,000. Capital Performance Advisors LLP bought a new position in shares of Corcept Therapeutics during the third quarter worth approximately $25,000. Canada Pension Plan Investment Board acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at approximately $40,000. National Bank of Canada FI bought a new stake in shares of Corcept Therapeutics in the fourth quarter valued at approximately $42,000. Finally, USA Financial Formulas bought a new stake in shares of Corcept Therapeutics in the fourth quarter valued at approximately $54,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.