Corcept Therapeutics Incorporated (NASDAQ:CORT) had its price objective lifted by Piper Jaffray Companies from $18.00 to $24.00 in a research note issued to investors on Friday. Piper Jaffray Companies’ target price suggests a potential upside of 41.26% from the company’s previous close.

CORT has been the subject of a number of other research reports. Stifel Nicolaus initiated coverage on Corcept Therapeutics in a research report on Thursday, August 31st. They set a “buy” rating and a $20.00 price target for the company. Ladenburg Thalmann Financial Services set a $20.00 price target on Corcept Therapeutics and gave the company a “buy” rating in a research report on Tuesday, July 18th. BidaskClub raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. TheStreet raised Corcept Therapeutics from a “c+” rating to a “b” rating in a research report on Monday, May 22nd. Finally, Zacks Investment Research raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $16.17.

Corcept Therapeutics (NASDAQ CORT) traded up 0.59% on Friday, hitting $17.09. The company had a trading volume of 610,000 shares. The firm has a market capitalization of $1.94 billion, a PE ratio of 85.02 and a beta of 2.07. Corcept Therapeutics has a 12-month low of $5.42 and a 12-month high of $17.24. The firm has a 50-day moving average price of $14.30 and a 200-day moving average price of $11.64.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $35.56 million during the quarter, compared to analysts’ expectations of $31.37 million. Corcept Therapeutics had a return on equity of 51.45% and a net margin of 22.28%. Corcept Therapeutics’s quarterly revenue was up 80.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 EPS. On average, equities research analysts anticipate that Corcept Therapeutics will post $0.42 earnings per share for the current fiscal year.

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In other news, Director David L. Mahoney sold 23,006 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $12.50, for a total value of $287,575.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Mahoney sold 6,510 shares of the stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $12.50, for a total value of $81,375.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,601 shares of company stock valued at $532,513 in the last ninety days. 19.20% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Corcept Therapeutics by 18.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,440,064 shares of the biotechnology company’s stock worth $52,394,000 after acquiring an additional 689,554 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Corcept Therapeutics by 44.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,683,400 shares of the biotechnology company’s stock worth $31,664,000 after acquiring an additional 824,900 shares in the last quarter. State Street Corp raised its position in shares of Corcept Therapeutics by 26.1% in the 2nd quarter. State Street Corp now owns 2,028,013 shares of the biotechnology company’s stock worth $23,931,000 after acquiring an additional 420,139 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Corcept Therapeutics by 53.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,698,971 shares of the biotechnology company’s stock worth $20,049,000 after acquiring an additional 588,462 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Corcept Therapeutics in the 2nd quarter worth approximately $13,942,000. 61.48% of the stock is owned by hedge funds and other 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).

Analyst Recommendations for Corcept Therapeutics (NASDAQ:CORT)

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