Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $135.25 Consensus Target Price from Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $135.25.

CORT has been the topic of several research analyst reports. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Piper Sandler reduced their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a report on Friday, August 1st. Canaccord Genuity Group restated a “buy” rating and set a $140.00 price objective on shares of Corcept Therapeutics in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Saturday, September 27th. Finally, Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, September 26th.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $88.15 on Friday. Corcept Therapeutics has a 52 week low of $42.01 and a 52 week high of $117.33. The firm has a market capitalization of $9.29 billion, a PE ratio of 78.01 and a beta of 0.46. The business’s 50-day simple moving average is $73.82 and its 200-day simple moving average is $72.33.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The firm had revenue of $194.43 million for the quarter, compared to analyst estimates of $199.40 million. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The company’s revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. Corcept Therapeutics has set its FY 2025 guidance at EPS. Research analysts forecast that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In related news, insider William Guyer sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $70.49, for a total value of $1,409,800.00. Following the completion of the transaction, the insider directly owned 5,487 shares in the company, valued at approximately $386,778.63. This represents a 78.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.75, for a total transaction of $423,750.00. Following the sale, the insider owned 10,277 shares in the company, valued at $870,975.75. This represents a 32.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 286,810 shares of company stock valued at $21,071,092 in the last quarter. 20.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new stake in Corcept Therapeutics during the second quarter valued at approximately $28,000. Huntington National Bank boosted its stake in Corcept Therapeutics by 54.0% in the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 168 shares in the last quarter. Brooklyn Investment Group grew its position in Corcept Therapeutics by 99.5% in the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 186 shares during the period. Employees Retirement System of Texas acquired a new position in Corcept Therapeutics during the second quarter worth $52,000. Finally, USA Financial Formulas bought a new position in shares of Corcept Therapeutics during the second quarter valued at $56,000. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Company Profile

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.