By otakuyassine3@gmail.com 
Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) shares fell 5% during mid-day trading on Friday . The stock traded as low as $67.42 and last traded at $66.40. 609,016 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 837,389 shares. The stock had previously closed at $69.90.
Analysts Set New Price Targets
A number of research analysts have issued reports on CORT shares. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $88.25.
View Our Latest Stock Report on Corcept Therapeutics
Corcept Therapeutics Stock Down 4.0 %
The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock’s fifty day simple moving average is $55.83 and its two-hundred day simple moving average is $46.67. The stock has a market capitalization of $7.03 billion, a P/E ratio of 53.26 and a beta of 0.56.
Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million for the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Corcept Therapeutics’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. As a group, research analysts expect that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.
Insider Activity at Corcept Therapeutics
In related news, insider William Guyer sold 3,394 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $48.97, for a total transaction of $166,204.18. Following the transaction, the insider now owns 5,796 shares in the company, valued at $283,830.12. The trade was a 36.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the sale, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,405 shares of company stock worth $1,627,772 over the last ninety days. Insiders own 20.50% of the company’s stock.
Hedge Funds Weigh In On Corcept Therapeutics
Large investors have recently modified their holdings of the company. Kestra Investment Management LLC bought a new position in Corcept Therapeutics in the 4th quarter valued at about $27,000. Capital Performance Advisors LLP purchased a new position in Corcept Therapeutics during the 3rd quarter worth $25,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Corcept Therapeutics in the 3rd quarter worth $36,000. USA Financial Formulas bought a new stake in Corcept Therapeutics in the 4th quarter worth about $54,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $58,000. 93.61% of the stock is currently owned by institutional investors.
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.
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