Investment Analysts’ Recent Ratings Updates for Corcept Therapeutics (CORT)

A number of research firms have changed their ratings and price targets for Corcept Therapeutics (NASDAQ: CORT):

  • 7/2/2020 – Corcept Therapeutics was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 7/2/2020 – Corcept Therapeutics was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/24/2020 – Corcept Therapeutics was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/23/2020 – Corcept Therapeutics was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. They now have a $20.00 price target on the stock. According to Zacks, “Corcept is making a good progress with its Cushing's syndrome drug, Korlym, which has witnessed higher sales and a strong uptake since its approval. Korlym’s label expansion programs are promising and should boost its commercial potential in the future. Corcept's most advanced candidate relacorilant is currently under evaluation in a phase III study for Cushing's syndrome. The successful development of its pipeline candidates will further drive the company’s growth, leading to increased sales. However, Corcept is solely dependent on Korlym for growth. A decline in Korlym sales will impede the company’s prospects. Shares of the company have outperformed the industry so far this year.”
  • 6/17/2020 – Corcept Therapeutics was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 6/5/2020 – Corcept Therapeutics was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 6/5/2020 – Corcept Therapeutics was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 5/19/2020 – Corcept Therapeutics was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 5/15/2020 – Corcept Therapeutics was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.

Shares of Corcept Therapeutics stock traded up $0.09 during midday trading on Thursday, hitting $17.18. The company had a trading volume of 797,540 shares, compared to its average volume of 1,048,585. The stock has a market cap of $1.93 billion, a PE ratio of 19.52 and a beta of 1.15. Corcept Therapeutics Incorporated has a 1-year low of $9.70 and a 1-year high of $18.52. The business’s 50 day simple moving average is $15.29 and its two-hundred day simple moving average is $13.14.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Monday, May 4th. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.03. The company had revenue of $93.25 million for the quarter, compared to analyst estimates of $87.01 million. Corcept Therapeutics had a net margin of 31.64% and a return on equity of 30.00%. The business’s quarterly revenue was up 43.8% on a year-over-year basis. During the same period last year, the business posted $0.20 EPS. Equities analysts predict that Corcept Therapeutics Incorporated will post 0.83 earnings per share for the current fiscal year.

In related news, Director G Leonard Baker, Jr. sold 30,000 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $15.70, for a total value of $471,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 5,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $16.10, for a total value of $80,500.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $80,500. The disclosure for this sale can be found here. 15.50% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Corcept Therapeutics by 36.2% in the first quarter. FMR LLC now owns 764,795 shares of the biotechnology company’s stock valued at $8,979,000 after acquiring an additional 203,200 shares during the period. First Trust Advisors LP bought a new stake in shares of Corcept Therapeutics in the 1st quarter valued at approximately $1,959,000. Swiss National Bank raised its holdings in shares of Corcept Therapeutics by 1.0% in the 4th quarter. Swiss National Bank now owns 195,900 shares of the biotechnology company’s stock worth $2,370,000 after buying an additional 2,000 shares in the last quarter. State Street Corp lifted its position in shares of Corcept Therapeutics by 3.8% during the 4th quarter. State Street Corp now owns 3,027,521 shares of the biotechnology company’s stock worth $36,633,000 after buying an additional 112,000 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Corcept Therapeutics by 13.8% in the 4th quarter. Victory Capital Management Inc. now owns 67,233 shares of the biotechnology company’s stock valued at $814,000 after buying an additional 8,146 shares in the last quarter. 76.16% of the stock is owned by institutional investors.

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.

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