Corcept Therapeutics (NASDAQ:CORT – Get Rating) was downgraded by investment analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a note issued to investors on Tuesday.
Separately, HC Wainwright reduced their price objective on Corcept Therapeutics from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, December 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Corcept Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $31.25.
Get Corcept Therapeutics alerts:Corcept Therapeutics Stock Up 2.2 %
Shares of CORT traded up $0.49 during midday trading on Tuesday, hitting $22.93. The company's stock had a trading volume of 575,478 shares, compared to its average volume of 575,558. Corcept Therapeutics has a one year low of $16.47 and a one year high of $30.14. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 22.93 and a beta of 0.60. The company's fifty day simple moving average is $22.79 and its two-hundred day simple moving average is $25.48.
Corcept Therapeutics (NASDAQ:CORT – Get Rating) last released its earnings results on Thursday, November 3rd. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.07. The firm had revenue of $101.73 million for the quarter, compared to analysts' expectations of $107.73 million. Corcept Therapeutics had a return on equity of 27.49% and a net margin of 29.37%. On average, research analysts predict that Corcept Therapeutics will post 0.89 earnings per share for the current year.Insider Activity
In other Corcept Therapeutics news, insider Gary Charles Robb sold 4,814 shares of Corcept Therapeutics stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $26.03, for a total transaction of $125,308.42. Following the transaction, the insider now directly owns 21,329 shares of the company's stock, valued at approximately $555,193.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Sean Maduck sold 25,000 shares of the company's stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $25.57, for a total value of $639,250.00. Following the sale, the insider now directly owns 56,462 shares of the company's stock, valued at approximately $1,443,733.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gary Charles Robb sold 4,814 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $26.03, for a total transaction of $125,308.42. Following the sale, the insider now owns 21,329 shares of the company's stock, valued at $555,193.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,439 shares of company stock valued at $1,040,958. Insiders own 18.60% of the company's stock.
Institutional Trading of Corcept Therapeutics
Institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. bought a new stake in Corcept Therapeutics in the fourth quarter worth approximately $408,000. State of Alaska Department of Revenue lifted its position in shares of Corcept Therapeutics by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 66,614 shares of the biotechnology company's stock valued at $1,352,000 after acquiring an additional 619 shares during the period. Bank of New York Mellon Corp boosted its stake in Corcept Therapeutics by 4.0% during the third quarter. Bank of New York Mellon Corp now owns 998,792 shares of the biotechnology company's stock worth $25,609,000 after acquiring an additional 38,453 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Corcept Therapeutics in the third quarter worth $804,000. Finally, Captrust Financial Advisors increased its stake in Corcept Therapeutics by 143.1% in the third quarter. Captrust Financial Advisors now owns 18,555 shares of the biotechnology company's stock valued at $476,000 after purchasing an additional 10,923 shares in the last quarter. Institutional investors own 80.08% of the company's stock.
About Corcept Therapeutics
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Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric 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.
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