Piper Sandler Boosts Corcept Therapeutics (NASDAQ:CORT) Price Target to $67.00

Corcept Therapeutics (NASDAQ:CORT) had its price target upped by Piper Sandler from $38.00 to $67.00 in a research note issued to investors on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the biotechnology company’s stock.

A number of other brokerages also recently weighed in on CORT. Truist Financial reaffirmed a buy rating and set a $65.00 target price on shares of Corcept Therapeutics in a research note on Monday, June 17th. Canaccord Genuity Group reaffirmed a buy rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Finally, HC Wainwright boosted their target price on Corcept Therapeutics from $40.00 to $45.00 and gave the stock a buy rating in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $53.75.

Corcept Therapeutics Stock Up 3.3 %

Shares of CORT stock opened at $42.25 on Wednesday. The business’s fifty day moving average is $35.38 and its 200 day moving average is $29.99. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 39.86 and a beta of 0.45. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $43.74.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The firm had revenue of $163.80 million for the quarter, compared to the consensus estimate of $155.14 million. During the same period in the prior year, the firm earned $0.25 EPS. The company’s revenue was up 39.1% compared to the same quarter last year. Equities research analysts expect that Corcept Therapeutics will post 1.1 earnings per share for the current fiscal year.

Insider Activity at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $32.81, for a total value of $72,182.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $32.81, for a total value of $72,182.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Charles Robb sold 3,101 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the transaction, the insider now directly owns 23,190 shares of the company’s stock, valued at approximately $828,114.90. The disclosure for this sale can be found here. Insiders sold 30,451 shares of company stock valued at $1,090,844 over the last 90 days. Corporate insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after buying an additional 579 shares during the last quarter. Park Place Capital Corp bought a new position in Corcept Therapeutics in the second quarter valued at about $32,000. Atwood & Palmer Inc. purchased a new position in Corcept Therapeutics in the second quarter worth about $35,000. FinTrust Capital Advisors LLC boosted its position in Corcept Therapeutics by 318.7% in the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,348 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Corcept Therapeutics by 27.0% during the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 448 shares during the period. Institutional investors own 93.61% of the company’s stock.

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.