Corcept Therapeutics (NASDAQ:CORT) Sets New 52-Week High – Should You Buy?

Corcept Therapeutics Incorporated (NASDAQ:CORT) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $75.00 and last traded at $72.86, with a volume of 219338 shares trading hands. The stock had previously closed at $72.60.

Analysts Set New Price Targets

CORT has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research note on Friday, February 7th. Finally, StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $88.25.

Corcept Therapeutics Stock Up 2.1 %

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 firm’s 50-day moving average is $58.24 and its 200 day moving average is $49.72. The firm has a market capitalization of $7.77 billion, a PE ratio of 58.94 and a beta of 0.58.

Insider Activity

In related news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated 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 in the company, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Douglas Lyon sold 1,411 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the completion of the transaction, the insider now owns 8,494 shares in the company, valued at approximately $481,779.68. This trade represents a 14.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,011 shares of company stock worth $1,479,608 over the last ninety days. 20.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Kestra Investment Management LLC acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $27,000. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics in the 3rd quarter worth about $25,000. Canada Pension Plan Investment Board acquired a new stake in Corcept Therapeutics in the 4th quarter worth about $40,000. National Bank of Canada FI purchased a new stake in Corcept Therapeutics in the 4th quarter valued at about $42,000. Finally, USA Financial Formulas acquired a new position in shares of Corcept Therapeutics during the 4th quarter valued at about $54,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.