Several other equities research analysts have also issued reports on the stock. TheStreet lowered shares of Corcept Therapeutics from a “b” rating to a “c+” rating in a research note on Friday, May 10th. Cantor Fitzgerald reiterated a “hold” rating and issued a $14.00 price target on shares of Corcept Therapeutics in a research note on Wednesday, May 1st. ValuEngine upgraded shares of Corcept Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a research note on Friday, April 5th. Six research analysts have rated the stock with a hold rating, Corcept Therapeutics currently has an average rating of “Hold” and a consensus price target of $12.50.
Shares of CORT stock opened at $10.41 on Friday. Corcept Therapeutics has a 1 year low of $9.14 and a 1 year high of $19.82. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 17.35 and a beta of 1.54.
Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). Corcept Therapeutics had a net margin of 29.52% and a return on equity of 28.66%. The business had revenue of $64.80 million during the quarter, compared to analyst estimates of $69.29 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts anticipate that Corcept Therapeutics will post 0.78 earnings per share for the current fiscal year.
In related news, Director G Leonard Baker, Jr. sold 30,000 shares of Corcept Therapeutics stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $9.78, for a total transaction of $293,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in Corcept Therapeutics by 8,942.0% during the third quarter. JPMorgan Chase & Co. now owns 111,409 shares of the biotechnology company’s stock valued at $1,561,000 after acquiring an additional 112,669 shares during the period. Bank of Montreal Can lifted its holdings in shares of Corcept Therapeutics by 33.1% in the fourth quarter. Bank of Montreal Can now owns 4,831 shares of the biotechnology company’s stock worth $64,000 after buying an additional 1,202 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Corcept Therapeutics by 25.5% in the fourth quarter. Rhumbline Advisers now owns 230,966 shares of the biotechnology company’s stock worth $3,086,000 after buying an additional 46,944 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of Corcept Therapeutics in the fourth quarter worth about $31,000. Finally, LSV Asset Management purchased a new stake in shares of Corcept Therapeutics in the fourth quarter worth about $1,508,000. 75.58% of the stock is owned by institutional investors and hedge funds.
Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated 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.
Further Reading: What are retained earnings?
Receive News & Ratings for Corcept Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corcept Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.