Piper Jaffray Companies set a $30.00 target price on Corcept Therapeutics Incorporated (NASDAQ:CORT) in a report released on Tuesday morning. The firm currently has a buy rating on the biotechnology company’s stock.

CORT has been the topic of several other research reports. Zacks Investment Research lowered Corcept Therapeutics from a buy rating to a hold rating in a research report on Tuesday, October 10th. BidaskClub lowered Corcept Therapeutics from a strong-buy rating to a buy rating in a research report on Friday, August 4th. Stifel Nicolaus began coverage on Corcept Therapeutics in a research report on Thursday, August 31st. They set a buy rating and a $20.00 target price on the stock. Finally, Ladenburg Thalmann Financial Services set a $20.00 target price on Corcept Therapeutics and gave the stock a buy rating in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $17.17.

Corcept Therapeutics (NASDAQ CORT) traded down 3.30% during trading on Tuesday, hitting $19.04. 575,911 shares of the stock traded hands. The company has a market cap of $2.16 billion, a P/E ratio of 94.73 and a beta of 2.12. The company’s 50 day moving average price is $18.81 and its 200 day moving average price is $14.02. Corcept Therapeutics has a 12 month low of $6.68 and a 12 month high of $20.77.

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, topping the consensus estimate of $0.08 by $0.02. Corcept Therapeutics had a return on equity of 51.45% and a net margin of 22.28%. The business had revenue of $35.56 million for the quarter, compared to analyst estimates of $31.37 million. During the same quarter last year, the company earned $0.01 EPS. The business’s quarterly revenue was up 80.3% on a year-over-year basis. On average, equities research analysts anticipate that Corcept Therapeutics will post $0.43 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. acquired a new position in Corcept Therapeutics during the third quarter worth approximately $108,000. BNP Paribas Arbitrage SA increased its position in Corcept Therapeutics by 2,942.9% during the second quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the biotechnology company’s stock worth $115,000 after buying an additional 9,388 shares during the period. PNC Financial Services Group Inc. increased its position in Corcept Therapeutics by 52.6% during the second quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock worth $116,000 after buying an additional 3,390 shares during the period. Sand Hill Global Advisors LLC acquired a new position in Corcept Therapeutics during the second quarter worth approximately $118,000. Finally, Jasper Ridge Partners L.P. acquired a new position in Corcept Therapeutics during the second quarter worth approximately $118,000. 62.22% of the stock is currently owned by institutional investors.

Corcept Therapeutics Company Profile

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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