Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been assigned an average recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $83.50.

CORT has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 29th. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research note on Wednesday, December 31st. UBS Group started coverage on shares of Corcept Therapeutics in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 target price on the stock. Wall Street Zen cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, HC Wainwright increased their price target on Corcept Therapeutics from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd.

Insider Transactions at Corcept Therapeutics

In other news, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $40.87, for a total transaction of $817,400.00. Following the sale, the insider directly owned 1,235 shares of the company’s stock, valued at approximately $50,474.45. This trade represents a 94.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph K. Belanoff sold 40,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $79.77, for a total value of $3,190,800.00. Following the sale, the chief executive officer owned 2,701,370 shares in the company, valued at approximately $215,488,284.90. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 129,500 shares of company stock valued at $8,665,500 over the last three months. Company insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Several large investors have recently modified their holdings of CORT. AQR Capital Management LLC grew its stake in shares of Corcept Therapeutics by 546.9% in the third quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after purchasing an additional 1,274,215 shares during the last quarter. Norges Bank bought a new position in Corcept Therapeutics during the 2nd quarter worth $72,048,000. TD Asset Management Inc acquired a new position in Corcept Therapeutics during the 2nd quarter worth about $60,179,000. Epoch Investment Partners Inc. bought a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at about $56,181,000. Finally, Geode Capital Management LLC grew its position in shares of Corcept Therapeutics by 38.0% in the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after buying an additional 734,646 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Trading Up 1.2%

Shares of CORT opened at $41.31 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14. Corcept Therapeutics has a 52-week low of $32.99 and a 52-week high of $117.33. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 46.94 and a beta of 0.25. The business’s fifty day moving average is $57.40 and its 200-day moving average is $68.89.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.