BidaskClub upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a sell rating to a hold rating in a research note issued to investors on Monday morning.
Several other equities research analysts have also recently issued reports on the company. B. Riley set a $11.00 target price on Corcept Therapeutics and gave the stock a hold rating in a report on Tuesday, February 5th. Zacks Investment Research cut Corcept Therapeutics from a hold rating to a sell rating in a report on Tuesday, February 5th. ValuEngine cut Corcept Therapeutics from a sell rating to a strong sell rating in a research note on Saturday, February 2nd. Finally, Cantor Fitzgerald cut Corcept Therapeutics from an overweight rating to a neutral rating and reduced their price objective for the stock from $20.00 to $14.00 in a research note on Friday, February 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $17.00.
Shares of CORT stock opened at $11.52 on Monday. Corcept Therapeutics has a 12-month low of $9.14 and a 12-month high of $20.00. The stock has a market capitalization of $1.37 billion, a PE ratio of 26.18 and a beta of 1.19.
In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 217,115 shares of the business’s stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $19.01, for a total transaction of $4,127,356.15. Following the sale, the chief executive officer now directly owns 2,381,310 shares of the company’s stock, valued at $45,268,703.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gary Charles Robb sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $19.01, for a total value of $475,250.00. Following the sale, the chief financial officer now directly owns 21,858 shares in the company, valued at $415,520.58. The disclosure for this sale can be found here. Insiders have sold 302,115 shares of company stock worth $5,743,206 over the last three months. 15.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Financial Gravity Companies Inc. bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at approximately $31,000. Private Capital Group LLC grew its stake in shares of Corcept Therapeutics by 291.7% during the fourth quarter. Private Capital Group LLC now owns 2,836 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 2,112 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at approximately $40,000. Bremer Trust National Association bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at approximately $54,000. Finally, Bank of Montreal Can grew its stake in shares of Corcept Therapeutics by 33.1% during the fourth quarter. Bank of Montreal Can now owns 4,831 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 1,202 shares during the last quarter. 77.63% of the stock is currently owned by institutional investors.
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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