Market Analysts see Corcept Therapeutics Incorporated [CORT] gaining to $16. Time to buy?

Corcept Therapeutics Incorporated [NASDAQ: CORT] gained 3.44% or 0.62 points to close at $18.66 with a heavy trading volume of 2493234 shares. The company report on November 19, 2020 that U.S. Patent Trial and Appeals Board Affirms Validity of All Claims of Corcept’s U.S. Patent No.10,195,214.

Corcept Therapeutics Incorporated (NASDAQ: CORT), a commercial-stage company engaged in the discovery and development of drugs to treat severe metabolic, oncologic and psychiatric disorders by modulating the effects of the stress hormone cortisol, announced today that the Patent Trial and Appeal Board (PTAB) of the U.S. Patent and Trademark Office has issued a decision upholding the validity of all claims of U.S. Patent No. 10,195,214, “Concomitant Administration of Glucocorticoid Receptor Modulators and CYP3A Inhibitors” (the “‘214 patent”). The ‘214 patent expires in 2037.

“We are gratified by the PTAB’s decision,” said Joseph K. Belanoff, MD, Corcept’s Chief Executive Officer. “The ‘214 patent is directed to an important medical discovery – that, with dose-adjustment as set forth in its FDA-approved label, Korlym® can be safely co-administered with medications known as strong CYP3A inhibitors, including commonly-prescribed antiviral, antibiotic, antifungal and antidepressant medications. Patients with Cushing’s syndrome often experience significant co-morbidities. We are glad that our research has increased the array of medications available to the physicians who treat them.”.

It opened the trading session at $18.24, the shares rose to $20.87 and dropped to $17.36, the range by which the price of stock traded the whole day. The daily chart for CORT points out that the company has recorded 22.12% gains over the past six months. However, it is still -92.37% lower than its most recent low trading price.

If we look at the average trading volume of 2.77M shares, CORT reached to a volume of 2493234 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Corcept Therapeutics Incorporated [CORT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CORT shares is $18.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CORT stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Corcept Therapeutics Incorporated shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 05, 2020. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on September 24, 2019, representing the official price target for Corcept Therapeutics Incorporated stock. Previously, the target price had yet another raise to $18, while H.C. Wainwright analysts kept a Buy rating on CORT stock. On February 04, 2019, analysts decreased their price target for CORT shares from 22 to 12.

The Average True Range (ATR) for Corcept Therapeutics Incorporated is set at 0.98, with the Price to Sales ratio for CORT stock in the period of the last 12 months amounting to 6.17. The Price to Book ratio for the last quarter was 4.41, with the Price to Cash per share for the same quarter was set at 3.64. Price to Free Cash Flow for CORT in the course of the last twelve months was 13.35 with Quick ratio for the last quarter at 10.70.

Trading performance analysis for CORT stock

Corcept Therapeutics Incorporated [CORT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.74. With this latest performance, CORT shares gained by 4.95% in over the last four-week period, additionally plugging by 22.12% over the last 6 months – not to mention a rise of 10.02% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CORT stock in for the last two-week period is set at 58.41, with the RSI for the last a single of trading hit 61.55, and the three-weeks RSI is set at 57.38 for Corcept Therapeutics Incorporated [CORT]. The present Moving Average for the last 50 days of trading for this stock 17.81, while it was recorded at 18.24 for the last single week of trading, and 14.97 for the last 200 days.

Corcept Therapeutics Incorporated [CORT]: A deeper dive into fundamental analysis

Corcept Therapeutics Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.70 and a Current Ratio set at 10.80.

Corcept Therapeutics Incorporated [CORT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Corcept Therapeutics Incorporated posted 0.24/share EPS, while the average EPS was predicted by analysts to be reported at 0.25/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -4.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CORT.

An analysis of insider ownership at Corcept Therapeutics Incorporated [CORT]

There are presently around $1,671 million, or 77.90% of CORT stock, in the hands of institutional investors. The top three institutional holders of CORT stocks are: BLACKROCK INC. with ownership of 15,075,424, which is approximately -5.095% of the company’s market cap and around 1.20% of the total institutional ownership; VANGUARD GROUP INC, holding 11,731,804 shares of the stock with an approximate value of $218.91 million in CORT stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $179.25 million in CORT stock with ownership of nearly 7.691% of the company’s market capitalization.

105 institutional holders increased their position in Corcept Therapeutics Incorporated [NASDAQ:CORT] by around 7,119,386 shares. Additionally, 114 investors decreased positions by around 6,607,872 shares, while 39 investors held positions by with 75,846,078 shares. The mentioned changes placed institutional holdings at 89,573,336 shares, according to the latest SEC report filing. CORT stock had 33 new institutional investments in for a total of 2,670,002 shares, while 32 institutional investors sold positions of 903,311 shares during the same period.

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