Piper Jaffray Companies reissued their buy rating on shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in a research note published on Wednesday. The brokerage currently has a $24.00 price objective on the biotechnology company’s stock.

Several other equities research analysts have also commented on the company. Zacks Investment Research lowered Corcept Therapeutics from a buy rating to a hold rating in a research note on Tuesday, October 10th. Stifel Nicolaus began coverage on shares of Corcept Therapeutics in a report on Thursday, August 31st. They issued a buy rating and a $20.00 target price for the company. BidaskClub raised shares of Corcept Therapeutics from a buy rating to a strong-buy rating in a report on Friday, August 18th. Finally, Ladenburg Thalmann Financial Services set a $20.00 target price on shares of Corcept Therapeutics and gave the stock a buy rating in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $16.17.

Corcept Therapeutics (NASDAQ:CORT) opened at 17.92 on Wednesday. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 89.15 and a beta of 2.12. The firm’s 50-day moving average price is $18.16 and its 200 day moving average price is $13.33. Corcept Therapeutics has a one year low of $6.11 and a one year high of $20.77.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $35.56 million during the quarter, compared to analyst estimates of $31.37 million. Corcept Therapeutics had a net margin of 22.28% and a return on equity of 51.45%. The company’s quarterly revenue was up 80.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. On average, equities research analysts expect that Corcept Therapeutics will post $0.42 earnings per share for the current fiscal year.

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In other news, Director David L. Mahoney sold 6,091 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $12.50, for a total transaction of $76,137.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David L. Mahoney sold 23,006 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $12.50, for a total transaction of $287,575.00. The disclosure for this sale can be found here. Company insiders own 19.20% of the company’s stock.

Several large investors have recently modified their holdings of CORT. Vanguard Group Inc. boosted its stake in shares of Corcept Therapeutics by 18.4% during the second quarter. Vanguard Group Inc. now owns 4,440,064 shares of the biotechnology company’s stock valued at $52,394,000 after purchasing an additional 689,554 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Corcept Therapeutics by 44.4% during the second quarter. Renaissance Technologies LLC now owns 2,683,400 shares of the biotechnology company’s stock valued at $31,664,000 after purchasing an additional 824,900 shares in the last quarter. State Street Corp boosted its stake in shares of Corcept Therapeutics by 26.1% during the second quarter. State Street Corp now owns 2,028,013 shares of the biotechnology company’s stock valued at $23,931,000 after purchasing an additional 420,139 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Corcept Therapeutics by 53.0% during the second quarter. Acadian Asset Management LLC now owns 1,698,971 shares of the biotechnology company’s stock valued at $20,049,000 after purchasing an additional 588,462 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Corcept Therapeutics during the second quarter valued at approximately $13,942,000. 61.48% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).

Analyst Recommendations for Corcept Therapeutics (NASDAQ:CORT)

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