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

Corcept Therapeutics Incorporated (NASDAQ:CORT) shares reached a new 52-week high on Thursday . The company traded as high as $48.46 and last traded at $47.96, with a volume of 105298 shares traded. The stock had previously closed at $47.27.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CORT. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday. Piper Sandler lifted their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Truist Financial upped their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. HC Wainwright boosted their price target on shares of Corcept Therapeutics from $45.00 to $80.00 and gave the company a “buy” rating in a research report on Friday. Finally, Canaccord Genuity Group restated a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Stock Up 5.5 %

The business has a 50-day simple moving average of $39.65 and a 200-day simple moving average of $32.93. The company has a market cap of $5.18 billion, a PE ratio of 46.93 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The firm had revenue of $163.80 million for the quarter, compared to the consensus estimate of $155.14 million. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was up 39.1% compared to the same quarter last year. As a group, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.12 EPS for the current fiscal year.

Insider Activity

In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the sale, the insider now directly owns 23,190 shares in the company, valued at $828,114.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the sale, the insider now owns 6,039 shares in the company, valued at $233,528.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Charles Robb sold 3,101 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following the completion of the transaction, the insider now owns 23,190 shares of the company’s stock, valued at $828,114.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,251 shares of company stock valued at $1,365,292. 20.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in shares of Corcept Therapeutics by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company’s stock valued at $174,000 after acquiring an additional 510 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Corcept Therapeutics by 0.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company’s stock worth $4,138,000 after buying an additional 541 shares during the last quarter. GAMMA Investing LLC boosted its holdings 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 valued at $31,000 after buying an additional 579 shares in the last quarter. Bank of Montreal Can grew its position in shares of Corcept Therapeutics by 5.0% in the 2nd quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company’s stock valued at $395,000 after buying an additional 580 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Corcept Therapeutics during the 3rd quarter worth $36,000. 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.