Corcept Therapeutics Incorporated [CORT] Stock trading around $19.26 per share: What’s Next?


Corcept Therapeutics Incorporated [NASDAQ: CORT] closed the trading session at $19.26 on 12/29/21. The day’s price range saw the stock hit a low of $18.76, while the highest price level was $19.46. The company report on December 20, 2021 that Corcept Therapeutics Announces Final Results of Previously Announced Tender Offer.

Corcept Therapeutics Incorporated (NASDAQ: CORT) (“Corcept”), 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 cortisol, today announced the final results of its previously announced tender offer to purchase up to 10,000,000 shares of its common stock, par value $0.001 per share, at a price not greater than $23.75 nor less than $20.75 per share, in cash, less any applicable withholding taxes and without interest (the “Tender Offer”), which expired one minute after 11:59 p.m., New York City time, on December 15, 2021.

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Based on the final count by Continental Stock Transfer & Trust Company, the depositary for the Tender Offer (the “Depositary”), 31,661,302 shares of Corcept’s common stock were validly tendered and not properly withdrawn at or below a purchase price of $23.75 per share.

The stocks have a year to date performance of -26.38 percent and weekly performance of -6.23 percent. The stock has been moved at -12.45 percent over the last six months. The stock has performed -8.81 percent around the most recent 30 days and changed -3.36 percent over the most recent 3-months.

If compared to the average trading volume of 1.59M shares, CORT reached to a volume of 2772954 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $24.75 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 1.20, with the Price to Sales ratio for CORT stock in the period of the last 12 months amounting to 6.29. The Price to Book ratio for the last quarter was 4.12, with the Price to Cash per share for the same quarter was set at 3.13. Price to Free Cash Flow for CORT in the course of the last twelve months was 14.55 with Quick ratio for the last quarter at 8.90.

CORT stock trade performance evaluation

Corcept Therapeutics Incorporated [CORT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.23. With this latest performance, CORT shares dropped by -8.81% in over the last four-week period, additionally sinking by -12.45% over the last 6 months – not to mention a drop of -26.07% 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 45.58, with the RSI for the last a single of trading hit 45.07, and the three-weeks RSI is set at 46.16 for Corcept Therapeutics Incorporated [CORT]. The present Moving Average for the last 50 days of trading for this stock 20.33, while it was recorded at 19.55 for the last single week of trading, and 21.35 for the last 200 days.

Corcept Therapeutics Incorporated [CORT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Corcept Therapeutics Incorporated [CORT] shares currently have an operating margin of +36.23 and a Gross Margin at +98.42. Corcept Therapeutics Incorporated’s Net Margin is presently recorded at +29.96.

Return on Total Capital for CORT is now 28.47, given the latest momentum, and Return on Invested Capital for the company is 23.64. Return on Equity for this stock inclined to 23.70, with Return on Assets sitting at 21.55. When it comes to the capital structure of this company, Corcept Therapeutics Incorporated [CORT] has a Total Debt to Total Equity ratio set at 0.49. Additionally, CORT Total Debt to Total Capital is recorded at 0.49, with Total Debt to Total Assets ending up at 0.45. Long-Term Debt to Equity for the company is recorded at 0.10, with the Long-Term Debt to Total Capital now at 0.10.

Reflecting on the efficiency of the workforce at the company, Corcept Therapeutics Incorporated [CORT] managed to generate an average of $449,199 per employee. Receivables Turnover for the company is 15.34 with a Total Asset Turnover recorded at a value of 0.72.Corcept Therapeutics Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.90 and a Current Ratio set at 9.00.

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Corcept Therapeutics Incorporated [CORT]: Insider Ownership positions

There are presently around $1,559 million, or 71.40% of CORT stock, in the hands of institutional investors. The top three institutional holders of CORT stocks are: BLACKROCK INC. with ownership of 15,593,876, which is approximately -0.171% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 11,870,518 shares of the stock with an approximate value of $227.68 million in CORT stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $158.19 million in CORT stock with ownership of nearly -3.219% of the company’s market capitalization.

Positions in Corcept Therapeutics Incorporated stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 87 institutional holders increased their position in Corcept Therapeutics Incorporated [NASDAQ:CORT] by around 3,904,399 shares. Additionally, 100 investors decreased positions by around 3,923,483 shares, while 39 investors held positions by with 73,456,251 shares. The mentioned changes placed institutional holdings at 81,284,133 shares, according to the latest SEC report filing. CORT stock had 26 new institutional investments in for a total of 624,281 shares, while 20 institutional investors sold positions of 622,200 shares during the same period.