Corcept Therapeutics (NASDAQ:CORT) Reaches New 12-Month High – What’s Next?

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) reached a new 52-week high on Thursday . The company traded as high as $71.88 and last traded at $71.92, with a volume of 150564 shares trading hands. The stock had previously closed at $70.15.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research note on Friday, February 7th. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report 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 an average target price of $88.25.

Corcept Therapeutics Price Performance

The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 57.82 and a beta of 0.58. The company’s 50 day moving average is $57.45 and its 200-day moving average is $48.88. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 1,411 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 8,494 shares in the company, valued at $481,779.68. This trade represents a 14.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total transaction of $130,812.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,011 shares of company stock worth $1,479,608. Insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in shares of Corcept Therapeutics during the third quarter worth approximately $25,000. Kestra Investment Management LLC bought a new position in shares of Corcept Therapeutics during the fourth quarter worth approximately $27,000. National Bank of Canada FI bought a new position in shares of Corcept Therapeutics during the fourth quarter worth approximately $42,000. USA Financial Formulas bought a new position in shares of Corcept Therapeutics during the fourth quarter worth approximately $54,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Corcept Therapeutics during the fourth quarter worth approximately $58,000. 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.