Analysts Set Corcept Therapeutics Incorporated (NASDAQ:CORT) Price Target at $135.25

Corcept Therapeutics Incorporated (NASDAQ:CORT) has earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $135.25.

Several equities analysts recently commented on the stock. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Piper Sandler cut their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a report on Friday, August 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $140.00 price target on shares of Corcept Therapeutics in a report on Thursday, September 25th. Wall Street Zen cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $145.00 price objective on shares of Corcept Therapeutics in a research report on Monday, October 20th.

Insider Transactions at Corcept Therapeutics

In related news, CEO Joseph K. Belanoff sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $85.08, for a total transaction of $3,403,200.00. Following the completion of the transaction, the chief executive officer owned 2,781,370 shares in the company, valued at $236,638,959.60. The trade was a 1.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $85.06, for a total transaction of $1,701,200.00. Following the transaction, the insider owned 7,904 shares in the company, valued at $672,314.24. The trade was a 71.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 211,607 shares of company stock worth $16,342,490. Insiders own 20.80% of the company’s stock.

Institutional Trading of Corcept Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CORT. Dimensional Fund Advisors LP lifted its holdings in Corcept Therapeutics by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company’s stock valued at $243,708,000 after purchasing an additional 57,942 shares in the last quarter. Invesco Ltd. increased its position in Corcept Therapeutics by 76.5% during the first quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company’s stock worth $142,345,000 after purchasing an additional 540,101 shares during the last quarter. Northern Trust Corp increased its position in Corcept Therapeutics by 0.6% during the first quarter. Northern Trust Corp now owns 1,022,001 shares of the biotechnology company’s stock worth $116,733,000 after purchasing an additional 6,486 shares during the last quarter. Norges Bank acquired a new stake in Corcept Therapeutics during the second quarter worth about $72,048,000. Finally, TD Asset Management Inc acquired a new stake in Corcept Therapeutics during the second quarter worth about $60,179,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Up 1.0%

Shares of NASDAQ:CORT opened at $74.17 on Tuesday. Corcept Therapeutics has a 52 week low of $47.63 and a 52 week high of $117.33. The stock has a market capitalization of $7.82 billion, a P/E ratio of 65.64 and a beta of 0.46. The firm has a fifty day simple moving average of $76.51 and a two-hundred day simple moving average of $73.32.

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.