Corcept Therapeutics Incorporated (CORT) Given a $30.00 Price Target by Piper Jaffray Companies Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT) received a $30.00 price objective from research analysts at Piper Jaffray Companies in a report released on Tuesday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 52.36% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Zacks Investment Research lowered shares of Corcept Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Ladenburg Thalmann Financial Services set a $20.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Finally, Stifel Nicolaus assumed coverage on shares of Corcept Therapeutics in a research note on Thursday, August 31st. They set a “buy” rating and a $20.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Corcept Therapeutics has a consensus rating of “Buy” and an average price target of $17.17.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02. Corcept Therapeutics had a net margin of 22.28% and a return on equity of 51.45%. The company had revenue of $35.56 million during the quarter, compared to analyst estimates of $31.37 million. During the same quarter last year, the business posted $0.01 EPS. Corcept Therapeutics’s quarterly revenue was up 80.3% compared to the same quarter last year.

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Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new position in Corcept Therapeutics in the 3rd quarter valued at approximately $108,000. BNP Paribas Arbitrage SA grew its position in shares of Corcept Therapeutics by 2,942.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 9,388 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Corcept Therapeutics by 52.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock valued at $116,000 after purchasing an additional 3,390 shares in the last quarter. Sand Hill Global Advisors LLC purchased a new position in shares of Corcept Therapeutics during the 2nd quarter valued at $118,000. Finally, Jasper Ridge Partners L.P. purchased a new position in shares of Corcept Therapeutics during the 2nd quarter valued at $118,000. Institutional investors and hedge funds own 62.22% 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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