Market Analysts see Corcept Therapeutics Incorporated [CORT] gaining to $30. Time to buy?

Corcept Therapeutics Incorporated [NASDAQ: CORT] slipped around -0.35 points on Friday, while shares priced at $25.63 at the close of the session, down -1.35%. The company report on August 3, 2022 that Corcept Therapeutics Announces Second Quarter Financial Results and Provides Corporate Update.

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Corcept Therapeutics Incorporated (NASDAQ: CORT), a commercial-stage company engaged in the discovery and development of medications to treat severe endocrine, oncologic, metabolic and neurological disorders by modulating the effects of the hormone cortisol, today reported its results for the quarter ended June 30, 2022.

Corcept Therapeutics Incorporated stock is now 29.44% up from its year-to-date (YTD) trading value. CORT Stock saw the intraday high of $26.19 and lowest of $25.485 per share. The company’s 52-week high price is 29.93, which means current price is +55.62% above from all time high which was touched on 07/27/22.

Compared to the average trading volume of 663.46K shares, CORT reached a trading volume of 396100 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $32.50 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 1.80. 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.

Truist have made an estimate for Corcept Therapeutics Incorporated shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 01, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price from $21 to $35. The new note on the price target was released on July 27, 2022, representing the official price target for Corcept Therapeutics Incorporated stock. Previously, the target price had yet another raise from $30 to $34, while Canaccord Genuity kept a Buy rating on CORT stock.

The Average True Range (ATR) for Corcept Therapeutics Incorporated is set at 0.96, with the Price to Sales ratio for CORT stock in the period of the last 12 months amounting to 7.25. The Price to Book ratio for the last quarter was 6.16, with the Price to Cash per share for the same quarter was set at 3.34. Price to Free Cash Flow for CORT in the course of the last twelve months was 18.80 with Quick ratio for the last quarter at 8.40.

How has CORT stock performed recently?

Corcept Therapeutics Incorporated [CORT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.08. With this latest performance, CORT shares dropped by -9.53% in over the last four-week period, additionally plugging by 8.28% over the last 6 months – not to mention a rise of 18.00% 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 39.57, with the RSI for the last a single of trading hit 33.01, and the three-weeks RSI is set at 44.51 for Corcept Therapeutics Incorporated [CORT]. The present Moving Average for the last 50 days of trading for this stock 26.97, while it was recorded at 25.91 for the last single week of trading, and 22.66 for the last 200 days.

Corcept Therapeutics Incorporated [CORT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Corcept Therapeutics Incorporated [CORT] shares currently have an operating margin of +34.01 and a Gross Margin at +98.56. Corcept Therapeutics Incorporated’s Net Margin is presently recorded at +30.74.

Return on Equity for this stock inclined to 25.03, with Return on Assets sitting at 22.60.

Corcept Therapeutics Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.40 and a Current Ratio set at 8.50.

Insider trade positions for Corcept Therapeutics Incorporated [CORT]

There are presently around $2,175 million, or 80.70% of CORT stock, in the hands of institutional investors. The top three institutional holders of CORT stocks are: BLACKROCK INC. with ownership of 15,467,633, which is approximately 0.278% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 9,873,663 shares of the stock with an approximate value of $253.06 million in CORT stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $200.78 million in CORT stock with ownership of nearly 0.815% of the company’s market capitalization.

Positions in Corcept Therapeutics Incorporated stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 104 institutional holders increased their position in Corcept Therapeutics Incorporated [NASDAQ:CORT] by around 7,842,200 shares. Additionally, 113 investors decreased positions by around 4,456,315 shares, while 37 investors held positions by with 72,563,298 shares. The mentioned changes placed institutional holdings at 84,861,813 shares, according to the latest SEC report filing. CORT stock had 27 new institutional investments in for a total of 3,437,597 shares, while 22 institutional investors sold positions of 422,487 shares during the same period.


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