Corcept Therapeutics (NASDAQ:CORT) Reaches New 1-Year High – Still a Buy?

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $62.46 and last traded at $62.50, with a volume of 624163 shares traded. The stock had previously closed at $59.03.

Wall Street Analysts Forecast Growth

CORT has been the topic of several research analyst reports. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Truist Financial lifted their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics currently has an average rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Price Performance

The company’s 50 day simple moving average is $55.16 and its 200 day simple moving average is $45.77. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $6.29 billion, a PE ratio of 47.61 and a beta of 0.56.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 EPS. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 6,606 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $48.97, for a total value of $323,495.82. Following the completion of the sale, the insider now owns 5,796 shares of the company’s stock, valued at $283,830.12. This trade represents a 53.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.54, for a total transaction of $111,188.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,011 shares of company stock worth $1,951,268 in the last three months. 20.50% of the stock is currently owned by company insiders.

Institutional Trading of Corcept Therapeutics

Several institutional investors have recently added to or reduced their stakes in CORT. Capital Performance Advisors LLP acquired a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at about $25,000. Kathleen S. Wright Associates Inc. acquired a new stake in Corcept Therapeutics during the third quarter valued at approximately $36,000. USA Financial Formulas acquired a new stake in Corcept Therapeutics during the fourth quarter valued at approximately $54,000. GAMMA Investing LLC raised its position in shares of Corcept Therapeutics by 85.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock valued at $115,000 after acquiring an additional 1,147 shares in the last quarter. Finally, KBC Group NV lifted its stake in Corcept Therapeutics by 21.3% during the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 496 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.