Corcept Therapeutics’ (CORT) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Corcept Therapeutics (NASDAQ:CORT) in a report published on Friday,Benzinga reports. The firm currently has a $80.00 price target on the biotechnology company’s stock.

A number of other analysts have also issued reports on CORT. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $88.25.

Corcept Therapeutics Trading Down 0.0 %

Shares of NASDAQ CORT opened at $68.01 on Friday. The stock has a fifty day simple moving average of $56.72 and a 200-day simple moving average of $47.85. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $71.29. 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 $7.13 billion, a PE ratio of 53.98 and a beta of 0.58.

Insider Buying and Selling

In other news, insider Sean Maduck sold 20,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the transaction, the insider now owns 85,318 shares in the company, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. Insiders sold 28,011 shares of company stock worth $1,461,568 over the last 90 days. 20.50% of the stock is owned by insiders.

Institutional Trading of Corcept Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Corcept Therapeutics by 0.6% in the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after buying an additional 19,893 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Corcept Therapeutics by 4.4% during the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock worth $110,108,000 after purchasing an additional 99,470 shares during the last quarter. FMR LLC increased its position in shares of Corcept Therapeutics by 24.6% during the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after purchasing an additional 269,074 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Corcept Therapeutics by 40.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after purchasing an additional 352,947 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Corcept Therapeutics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company’s stock valued at $52,988,000 after purchasing an additional 25,073 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.