Corcept Therapeutics Incorporated (NASDAQ:CORT) has received an average rating of “Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.20.

CORT has been the topic of several recent research reports. Ladenburg Thalmann Financial Services set a $20.00 price objective on Corcept Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Zacks Investment Research upgraded Corcept Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. TheStreet upgraded Corcept Therapeutics from a “c+” rating to a “b” rating in a research report on Monday, May 22nd. Finally, Piper Jaffray Companies set a $18.00 price objective on Corcept Therapeutics and gave the stock a “buy” rating in a research report on Monday, May 15th.

Shares of Corcept Therapeutics (NASDAQ:CORT) traded up 6.21% on Tuesday, hitting $14.87. 1,645,895 shares of the company traded hands. The firm’s 50-day moving average is $12.74 and its 200 day moving average is $10.75. Corcept Therapeutics has a 1-year low of $5.24 and a 1-year high of $15.26. The firm has a market capitalization of $1.69 billion, a P/E ratio of 73.98 and a beta of 2.06.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. Corcept Therapeutics had a return on equity of 51.45% and a net margin of 22.28%. The firm had revenue of $35.56 million for the quarter, compared to analyst estimates of $31.37 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 80.3% on a year-over-year basis. On average, analysts anticipate that Corcept Therapeutics will post $0.43 earnings per share for the current fiscal year.

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In other news, Director David L. Mahoney sold 23,006 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David L. Mahoney sold 6,510 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $12.50, for a total value of $81,375.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,601 shares of company stock worth $532,513 in the last quarter. Insiders own 19.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CORT. BNP Paribas Arbitrage SA raised its position in shares of Corcept Therapeutics by 2,942.9% in the second quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the biotechnology company’s stock worth $115,000 after buying an additional 9,388 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Corcept Therapeutics by 52.6% in the second quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock worth $116,000 after buying an additional 3,390 shares during the period. Sand Hill Global Advisors LLC acquired a new position in shares of Corcept Therapeutics during the second quarter worth about $118,000. Jasper Ridge Partners L.P. acquired a new position in shares of Corcept Therapeutics during the second quarter worth about $118,000. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of Corcept Therapeutics during the second quarter worth about $127,000. Hedge funds and other institutional investors own 55.96% of the company’s stock.

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).

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