Piper Jaffray Companies reiterated their overweight rating on shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in a research report sent to investors on Wednesday. The brokerage currently has a $18.00 target price on the stock, up from their previous target price of $12.00.
A number of other equities research analysts also recently issued reports on the stock. TheStreet upgraded shares of Corcept Therapeutics from a c+ rating to a b rating in a research note on Friday, March 10th. Zacks Investment Research downgraded shares of Corcept Therapeutics from a hold rating to a sell rating in a research note on Thursday, February 2nd. Ladenburg Thalmann Financial Services initiated coverage on shares of Corcept Therapeutics in a research note on Thursday, February 2nd. They issued a buy rating and a $14.00 price target on the stock. Finally, Janney Montgomery Scott initiated coverage on shares of Corcept Therapeutics in a research note on Tuesday, December 20th. They issued a sell rating and a $7.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Corcept Therapeutics presently has an average rating of Hold and an average price target of $11.75.
Shares of Corcept Therapeutics (NASDAQ:CORT) opened at 9.90 on Wednesday. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 141.43 and a beta of 1.72. Corcept Therapeutics has a 1-year low of $4.01 and a 1-year high of $11.40. The company has a 50-day moving average price of $8.77 and a 200-day moving average price of $7.74.
Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Monday, March 6th. The company reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. Corcept Therapeutics had a net margin of 6.21% and a return on equity of 28.11%. On average, equities analysts expect that Corcept Therapeutics will post $0.26 earnings per share for the current fiscal year.
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In other Corcept Therapeutics news, Director Patrick G. Enright sold 2,500,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $8.81, for a total transaction of $22,025,000.00. Following the completion of the transaction, the director now owns 204,210 shares in the company, valued at approximately $1,799,090.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Patrick G. Enright sold 600,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $10.15, for a total transaction of $6,090,000.00. Following the transaction, the director now owns 204,210 shares of the company’s stock, valued at approximately $2,072,731.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,850,000 shares of company stock valued at $35,427,500. Company insiders own 33.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC raised its stake in Corcept Therapeutics by 35.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 21,446 shares of the company’s stock valued at $139,000 after buying an additional 5,652 shares in the last quarter. Alambic Investment Management L.P. raised its stake in Corcept Therapeutics by 67.5% in the third quarter. Alambic Investment Management L.P. now owns 28,300 shares of the company’s stock valued at $184,000 after buying an additional 11,400 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Corcept Therapeutics during the fourth quarter valued at $210,000. Old Mutual Global Investors UK Ltd. bought a new stake in Corcept Therapeutics during the third quarter valued at $217,000. Finally, Two Sigma Securities LLC bought a new stake in Corcept Therapeutics during the third quarter valued at $223,000. Institutional investors own 43.57% of the company’s stock.
Corcept Therapeutics Company Profile
Corcept Therapeutics Inc 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’s focus is on those disorders that are associated with a steroid hormone cortisol. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders.
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