Corcept Therapeutics Incorporated (NASDAQ:CORT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday. The brokerage currently has a $14.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 7.94% from the stock’s previous close.

According to Zacks, “Corcept is evaluating its most advanced candidate CORT125134 in a phase I/II study to treat patients with solid-tumor cancers. Corcept’s share price movement shows that the stock has outperformed the Zacks classified Medical-Drugs industry year to date. The company is striving to commercialize Korlym successfully by deploying medical liaisons and sales representatives. The company has increased the size of its sales force significantly and is targeting Cushing’s disease patients who would benefit from the drug but are yet to be on the medication. Notably, its efforts to expand Korlym’s label are encouraging and should boost the drug’s commercial potential significantly. Estimates have remained mostly stable lately ahead of the Q2 results. Corcept has a mixed record of earnings surprises in the recent quarters.”

CORT has been the subject of a number of other reports. Piper Jaffray Companies set a $18.00 target price on shares of Corcept Therapeutics and gave the company a “buy” rating in a research note on Monday, May 15th. BidaskClub lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. TheStreet lowered shares of Corcept Therapeutics from a “b-” rating to a “c+” rating in a research note on Monday, May 1st. Finally, Ladenburg Thalmann Financial Services set a $20.00 target price on shares of Corcept Therapeutics and gave the company a “buy” rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.20.

Shares of Corcept Therapeutics (NASDAQ:CORT) traded up 0.15% during midday trading on Wednesday, reaching $12.97. 660,723 shares of the company’s stock traded hands. Corcept Therapeutics has a one year low of $5.24 and a one year high of $13.25. The company has a 50-day moving average of $11.86 and a 200-day moving average of $10.06. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 118.99 and a beta of 2.05.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Monday, May 1st. The biotechnology company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $27.60 million during the quarter, compared to analyst estimates of $25.53 million. Corcept Therapeutics had a net margin of 13.51% and a return on equity of 33.97%. Corcept Therapeutics’s revenue was up 71.9% compared to the same quarter last year. Equities research analysts anticipate that Corcept Therapeutics will post $0.26 EPS for the current year.

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In other Corcept Therapeutics news, CFO Gary Charles Robb acquired 5,600 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was bought at an average cost of $9.75 per share, with a total value of $54,600.00. Following the completion of the purchase, the chief financial officer now directly owns 6,858 shares in the company, valued at $66,865.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David L. Mahoney sold 6,510 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $12.50, for a total transaction of $81,375.00. The disclosure for this sale can be found here. Insiders have sold 42,601 shares of company stock valued at $532,513 over the last three months. Insiders own 19.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Corcept Therapeutics during the fourth quarter worth $1,401,000. Teachers Advisors LLC raised its stake in Corcept Therapeutics by 45.8% in the fourth quarter. Teachers Advisors LLC now owns 184,460 shares of the biotechnology company’s stock worth $1,339,000 after buying an additional 57,985 shares during the period. Trexquant Investment LP acquired a new stake in Corcept Therapeutics during the first quarter worth $202,000. USA Financial Portformulas Corp acquired a new stake in Corcept Therapeutics during the fourth quarter worth $280,000. Finally, Driehaus Capital Management LLC acquired a new stake in Corcept Therapeutics during the first quarter worth $4,392,000. 53.52% of the stock is owned by institutional investors.

About Corcept Therapeutics

Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).

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