Shares of Corcept Therapeutics Inc. (NASDAQ:CORT) have been assigned an average broker rating score of 1.75 (Buy) from the four brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a sell rating and three have assigned a strong buy rating to the company.
Brokers have set a one year consensus target price of $9.25 for the company and are expecting that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also given Corcept Therapeutics an industry rank of 96 out of 265 based on the ratings given to its competitors.
A number of brokerages recently weighed in on CORT. Zacks Investment Research downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. FBR & Co reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Thursday, August 4th.
A number of hedge funds and other institutional investors have recently modified their holdings of CORT. Ingalls & Snyder LLC acquired a new position in shares of Corcept Therapeutics during the second quarter worth approximately $50,059,000. Boston Partners acquired a new position in shares of Corcept Therapeutics during the second quarter worth approximately $1,834,000. BlackRock Fund Advisors boosted its position in shares of Corcept Therapeutics by 20.4% in the second quarter. BlackRock Fund Advisors now owns 1,942,735 shares of the company’s stock worth $10,607,000 after buying an additional 329,731 shares during the last quarter. State Street Corp boosted its position in shares of Corcept Therapeutics by 28.9% in the second quarter. State Street Corp now owns 1,162,939 shares of the company’s stock worth $6,350,000 after buying an additional 260,699 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Corcept Therapeutics by 7.0% in the second quarter. Vanguard Group Inc. now owns 2,979,735 shares of the company’s stock worth $16,269,000 after buying an additional 193,729 shares during the last quarter. Institutional investors and hedge funds own 41.33% of the company’s stock.
Shares of Corcept Therapeutics (NASDAQ:CORT) traded down 1.35% during mid-day trading on Thursday, reaching $6.60. 140,241 shares of the company’s stock traded hands. The firm has a 50-day moving average of $5.89 and a 200 day moving average of $5.47. Corcept Therapeutics has a 12-month low of $3.22 and a 12-month high of $6.88. The company has a market cap of $729.92 million, a P/E ratio of 733.33 and a beta of 1.41.
Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The business had revenue of $19.70 million for the quarter, compared to the consensus estimate of $18.36 million. Corcept Therapeutics had a net margin of 2.06% and a return on equity of 19.40%. Equities analysts forecast that Corcept Therapeutics will post $0.04 EPS for the current year.
About Corcept Therapeutics
Corcept Therapeutics Inc 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’s focus is on those disorders that are associated with a steroid hormone cortisol. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders.
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