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

Corcept Therapeutics Incorporated (NASDAQ:CORT) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $71.88 and last traded at $71.92, with a volume of 150564 shares. The stock had previously closed at $70.15.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a report on Friday, February 7th. Finally, Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $88.25.

Corcept Therapeutics Stock Down 1.2 %

The firm has a market cap of $7.62 billion, a P/E ratio of 57.71 and a beta of 0.58. The company’s 50-day simple moving average is $57.97 and its 200 day simple moving average is $49.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 1,411 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the transaction, the insider now owns 8,494 shares in the company, valued at $481,779.68. The trade was a 14.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,011 shares of company stock valued at $1,479,608. Insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CORT. Capital Performance Advisors LLP acquired a new stake in shares of Corcept Therapeutics during the third quarter worth about $25,000. Kestra Investment Management LLC purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at $27,000. Canada Pension Plan Investment Board acquired a new stake in shares of Corcept Therapeutics in the fourth quarter worth $40,000. National Bank of Canada FI purchased a new position in shares of Corcept Therapeutics during the fourth quarter worth $42,000. Finally, USA Financial Formulas acquired a new position in Corcept Therapeutics during the fourth quarter valued at $54,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Company Profile

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.