Corcept Therapeutics (NASDAQ:CORT) Downgraded to “Buy” Rating by StockNews.com

StockNews.com lowered shares of Corcept Therapeutics (NASDAQ:CORT) from a strong-buy rating to a buy rating in a research note issued to investors on Monday morning.

A number of other equities analysts also recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Piper Sandler boosted their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Truist Financial boosted their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. 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 a consensus target price of $65.25.

Corcept Therapeutics Trading Up 0.0 %

NASDAQ CORT opened at $58.60 on Monday. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $49.52 and a 200 day simple moving average of $38.66. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $61.66. The firm has a market capitalization of $6.14 billion, a P/E ratio of 46.51 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. On average, analysts predict that Corcept Therapeutics will post 1.35 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 1,411 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.72, for a total value of $80,031.92. Following the completion of the transaction, the insider now directly owns 8,494 shares of the company’s stock, valued at approximately $481,779.68. This trade represents a 14.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,611 shares of company stock worth $1,563,548. 20.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in Corcept Therapeutics in the 3rd quarter worth approximately $25,000. Park Place Capital Corp bought a new stake in shares of Corcept Therapeutics during the 2nd quarter worth $32,000. Atwood & Palmer Inc. purchased a new position in Corcept Therapeutics in the second quarter worth $35,000. Kathleen S. Wright Associates Inc. bought a new position in Corcept Therapeutics in the third quarter valued at $36,000. Finally, Blue Trust Inc. raised its position in Corcept Therapeutics by 125.4% during the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,962 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

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.