Trade Report: The Corcept Therapeutics Inc. (CORT) PT Set at $12.00 by FBR & Co

The Corcept Therapeutics Inc. (CORT) PT Set at $12.00 by FBR & Co

Corcept Therapeutics Inc. (NASDAQ:CORT) has been assigned a $12.00 price objective by stock analysts at FBR & Co in a research note issued on Wednesday. The firm currently has a “buy” rating on the stock. FBR & Co’s target price would indicate a potential upside of 30.72% from the stock’s current price.

CORT has been the subject of several other research reports. Zacks Investment Research upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $7.25 target price for the company in a research report on Tuesday, October 18th. Piper Jaffray Cos. set a $12.00 price target on Corcept Therapeutics and gave the company a “buy” rating in a report on Wednesday, October 19th.

Shares of Corcept Therapeutics (NASDAQ:CORT) traded down 1.18% during mid-day trading on Wednesday, hitting $9.18. The stock had a trading volume of 357,529 shares. The firm’s 50-day moving average price is $7.78 and its 200 day moving average price is $6.22. Corcept Therapeutics has a 12-month low of $3.22 and a 12-month high of $10.00. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 235.38 and a beta of 1.64.

In other news, CEO Joseph K. Belanoff sold 500,000 shares of Corcept Therapeutics stock in a transaction on Monday, November 7th. The stock was sold at an average price of $8.31, for a total value of $4,155,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,257,728 shares of the company’s stock, valued at approximately $18,761,719.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick G. Enright sold 36,941 shares of Corcept Therapeutics stock in a transaction on Friday, November 25th. The shares were sold at an average price of $9.34, for a total value of $345,028.94. The disclosure for this sale can be found here. 33.30% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. boosted its stake in Corcept Therapeutics by 119.8% in the third quarter. D.A. Davidson & CO. now owns 192,634 shares of the company’s stock valued at $1,252,000 after buying an additional 105,000 shares during the period. Panagora Asset Management Inc. boosted its stake in Corcept Therapeutics by 352.8% in the third quarter. Panagora Asset Management Inc. now owns 47,032 shares of the company’s stock valued at $305,000 after buying an additional 36,645 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in Corcept Therapeutics by 30.8% in the third quarter. D. E. Shaw & Co. Inc. now owns 141,784 shares of the company’s stock valued at $921,000 after buying an additional 33,351 shares during the period. Gotham Asset Management LLC boosted its stake in Corcept Therapeutics by 39.2% in the third quarter. Gotham Asset Management LLC now owns 20,908 shares of the company’s stock valued at $136,000 after buying an additional 5,884 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in Corcept Therapeutics during the third quarter valued at approximately $351,000. 41.24% of the stock is owned by institutional investors.

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