Corcept Therapeutics Incorporated (NASDAQ:CORT) has been assigned a consensus recommendation of “Buy” from the seven research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $19.25.
A number of research firms have commented on CORT. Ladenburg Thalmann Financial Services set a $20.00 target price on shares of Corcept Therapeutics and gave the company a “buy” rating in a research report on Tuesday, July 18th. Zacks Investment Research raised shares of Corcept Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Piper Jaffray Companies set a $30.00 price objective on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research report on Tuesday. Finally, Stifel Nicolaus began coverage on shares of Corcept Therapeutics in a research report on Thursday, August 31st. They set a “buy” rating and a $20.00 target price on the stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Corcept Therapeutics by 18.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,440,064 shares of the biotechnology company’s stock valued at $52,394,000 after acquiring an additional 689,554 shares during the period. Renaissance Technologies LLC lifted its stake in Corcept Therapeutics by 44.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,683,400 shares of the biotechnology company’s stock valued at $31,664,000 after acquiring an additional 824,900 shares during the period. State Street Corp lifted its stake in Corcept Therapeutics by 26.1% during the 2nd quarter. State Street Corp now owns 2,028,013 shares of the biotechnology company’s stock valued at $23,931,000 after acquiring an additional 420,139 shares during the period. Acadian Asset Management LLC lifted its stake in Corcept Therapeutics by 53.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,698,971 shares of the biotechnology company’s stock valued at $20,049,000 after acquiring an additional 588,462 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in Corcept Therapeutics during the 2nd quarter valued at approximately $13,942,000. Institutional investors and hedge funds own 62.22% of the company’s stock.
Shares of Corcept Therapeutics (NASDAQ CORT) traded down $1.79 on Friday, hitting $17.31. The company’s stock had a trading volume of 3,153,882 shares, compared to its average volume of 1,654,092. The company has a market capitalization of $2,235.07, a price-to-earnings ratio of 67.97 and a beta of 2.04.
Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Corcept Therapeutics had a net margin of 27.28% and a return on equity of 67.59%. The company had revenue of $42.70 million for the quarter, compared to the consensus estimate of $41.64 million. During the same quarter in the previous year, the business earned $0.02 EPS. The company’s quarterly revenue was up 96.8% compared to the same quarter last year. equities analysts forecast that Corcept Therapeutics will post 0.44 EPS for the current year.
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About Corcept Therapeutics
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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