Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $16.17.

Several equities research analysts have weighed in on CORT shares. Ladenburg Thalmann Financial Services set a $20.00 price target on Corcept Therapeutics and gave the stock a “buy” rating in a report on Tuesday, July 18th. Zacks Investment Research upgraded Corcept Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Stifel Nicolaus started coverage on Corcept Therapeutics in a research note on Thursday, August 31st. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Piper Jaffray Companies boosted their price objective on Corcept Therapeutics from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 8th.

Shares of Corcept Therapeutics (NASDAQ:CORT) traded up 0.10% during midday trading on Wednesday, reaching $19.57. The company had a trading volume of 1,040,696 shares. The company has a market capitalization of $2.22 billion, a P/E ratio of 97.36 and a beta of 2.12. The company’s 50 day moving average price is $16.93 and its 200-day moving average price is $12.82. Corcept Therapeutics has a 52 week low of $6.11 and a 52 week high of $19.83.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $35.56 million for 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%. The company’s revenue for the quarter was up 80.3% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. On average, equities research analysts predict that Corcept Therapeutics will post $0.42 earnings per share for the current fiscal year.

In related news, Director David L. Mahoney sold 23,006 shares of the company’s 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David L. Mahoney sold 6,510 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were 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 sold 42,601 shares of company stock worth $532,513 in the last three months. 19.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Suntrust Banks Inc. raised its holdings in Corcept Therapeutics by 4.0% during the second quarter. Suntrust Banks Inc. now owns 12,308 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 471 shares in the last quarter. Strs Ohio lifted its position in shares of Corcept Therapeutics by 2.0% during the 2nd quarter. Strs Ohio now owns 72,900 shares of the biotechnology company’s stock worth $860,000 after buying an additional 1,400 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Corcept Therapeutics by 0.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 347,171 shares of the biotechnology company’s stock worth $4,097,000 after buying an additional 2,360 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Corcept Therapeutics by 5.6% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 56,303 shares of the biotechnology company’s stock worth $617,000 after buying an additional 2,992 shares during the last quarter. Finally, American International Group Inc. lifted its position in shares of Corcept Therapeutics by 7.1% during the 1st quarter. American International Group Inc. now owns 46,000 shares of the biotechnology company’s stock worth $504,000 after buying an additional 3,042 shares during the last quarter. Institutional investors own 61.48% of the company’s stock.

WARNING: “Corcept Therapeutics Incorporated (CORT) Given Average Rating of “Buy” by Brokerages” was originally published by American Banking News and is owned by of American Banking News. If you are viewing this article on another domain, it was illegally copied and republished in violation of U.S. and international trademark and copyright law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/10/04/corcept-therapeutics-incorporated-cort-given-average-rating-of-buy-by-brokerages.html.

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)

Receive News & Ratings for Corcept Therapeutics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corcept Therapeutics Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.