Corcept Therapeutics Incorporated (NASDAQ:CORT) Upgraded at BidaskClub
BidaskClub upgraded shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning.
Other analysts have also issued research reports about the stock. TheStreet raised shares of Corcept Therapeutics from a c+ rating to a b rating in a research report on Monday, May 22nd. Ladenburg Thalmann Financial Services set a $20.00 target price on Corcept Therapeutics and gave the company a buy rating in a research report on Tuesday, July 18th. Piper Jaffray Companies set a $18.00 target price on Corcept Therapeutics and gave the company a buy rating in a research report on Monday, May 15th. Finally, Zacks Investment Research lowered Corcept Therapeutics from a buy rating to a hold rating in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $14.20.
Corcept Therapeutics (NASDAQ CORT) traded up 0.41% on Tuesday, hitting $12.17. The stock had a trading volume of 572,136 shares. The stock has a market cap of $1.38 billion, a PE ratio of 111.65 and a beta of 2.05. Corcept Therapeutics has a 12 month low of $5.24 and a 12 month high of $13.25. The firm’s 50 day moving average price is $11.94 and its 200-day moving average price is $10.25.
Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Monday, May 1st. The biotechnology company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $27.60 million for the quarter, compared to analyst estimates of $25.53 million. Corcept Therapeutics had a net margin of 13.51% and a return on equity of 33.97%. The business’s revenue was up 71.9% on a year-over-year basis. On average, analysts forecast that Corcept Therapeutics will post $0.26 EPS for the current year.
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In other Corcept Therapeutics news, CFO Gary Charles Robb purchased 5,600 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was acquired at an average price of $9.75 per share, for a total transaction of $54,600.00. Following the completion of the purchase, the chief financial officer now directly owns 6,858 shares in the company, valued at approximately $66,865.50. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director David L. Mahoney sold 23,006 shares of the business’s stock in a transaction 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. In the last 90 days, insiders sold 42,601 shares of company stock valued at $532,513. Insiders own 19.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of CORT. Essex Investment Management Co. LLC increased its position in Corcept Therapeutics by 15.0% in the second quarter. Essex Investment Management Co. LLC now owns 378,846 shares of the biotechnology company’s stock valued at $4,470,000 after buying an additional 49,541 shares during the period. Eidelman Virant Capital acquired a new position in Corcept Therapeutics during the second quarter valued at approximately $613,000. Strs Ohio increased its position in Corcept Therapeutics by 2.0% in the second quarter. Strs Ohio now owns 72,900 shares of the biotechnology company’s stock valued at $860,000 after buying an additional 1,400 shares during the period. Acadian Asset Management LLC increased its position in Corcept Therapeutics by 53.0% in 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 buying an additional 588,462 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Corcept Therapeutics by 1,101.5% in the second quarter. Russell Investments Group Ltd. now owns 607,427 shares of the biotechnology company’s stock valued at $7,167,000 after buying an additional 556,871 shares during the period. Institutional investors and hedge funds own 53.49% 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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