Investment analysts at Cantor Fitzgerald initiated coverage on shares of Corcept Therapeutics (NASDAQ:CORT) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a “neutral” rating and a $17.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 25.18% from the company’s current price.

Several other research analysts also recently commented on CORT. Zacks Investment Research upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Friday, April 27th. BidaskClub downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, May 11th. ValuEngine upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, May 14th. Stifel Nicolaus downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a research note on Thursday, May 31st. Finally, B. Riley cut their target price on Corcept Therapeutics from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.83.

Shares of CORT opened at $13.58 on Thursday. Corcept Therapeutics has a fifty-two week low of $11.55 and a fifty-two week high of $25.96. The stock has a market capitalization of $1.60 billion, a P/E ratio of 24.66 and a beta of 1.70.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Thursday, August 9th. The biotechnology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). Corcept Therapeutics had a return on equity of 38.53% and a net margin of 68.32%. The company had revenue of $62.31 million during the quarter, compared to the consensus estimate of $68.49 million. During the same quarter in the prior year, the business earned $0.13 EPS. The firm’s revenue for the quarter was up 75.2% compared to the same quarter last year. analysts forecast that Corcept Therapeutics will post 0.6 earnings per share for the current year.

In other Corcept Therapeutics news, Director G Leonard Baker, Jr. purchased 179,686 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was purchased at an average price of $12.48 per share, for a total transaction of $2,242,481.28. Following the transaction, the director now owns 876,838 shares in the company, valued at approximately $10,942,938.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director G Leonard Baker, Jr. purchased 105,792 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were acquired at an average price of $12.50 per share, with a total value of $1,322,400.00. Following the transaction, the director now owns 876,838 shares in the company, valued at approximately $10,960,475. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 321,159 shares of company stock valued at $4,025,880 and sold 24,000 shares valued at $379,760. 15.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of CORT. Tyers Asset Management LLC bought a new stake in shares of Corcept Therapeutics during the 1st quarter valued at about $136,000. Asset Management One Co. Ltd. bought a new stake in shares of Corcept Therapeutics during the 1st quarter valued at about $150,000. Riverhead Capital Management LLC bought a new stake in shares of Corcept Therapeutics during the 1st quarter valued at about $155,000. Flinton Capital Management LLC bought a new stake in shares of Corcept Therapeutics during the 1st quarter valued at about $173,000. Finally, Stifel Financial Corp bought a new stake in shares of Corcept Therapeutics during the 1st quarter valued at about $182,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

About Corcept Therapeutics

Corcept Therapeutics Incorporated, a pharmaceutical company, discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric 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, as well as develops CLIA-validated assay to measure FKBP5 gene expression.

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Analyst Recommendations for Corcept Therapeutics (NASDAQ:CORT)

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