Dimensional Fund Advisors LP recently announced the acquisition of new stake in Corcept Therapeutics Inc (NASDAQ:CORT). The institutional investor has increased its shareholding in the Healthcare company by 2.35% to 2.31 million shares with purchase of 52878.0 shares. This fresh investment now brings its stake to 2.24% valued currently at $58.77 million. In addition, Geode Capital Management LLC raised its holdings by 0.21 million to 1.96 million shares.
With over 7.35 million Corcept Therapeutics Inc (CORT) shares trading Tuesday and a closing price of $24.16 on the day, the dollar volume was approximately $177.51 million. The shares have shown a positive half year performance of 9.27% and its price on 01/02/24 lost nearly -25.62%. Currently, there are 107.83M common shares owned by the public and among those 87.89M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for CORT have a consensus price objective of $35.67. The analysts have set the share’s price value over the next 12 months at a high of $50.00 and a low of $27.00. The average price target is 32.27% above its recent price level and an upside to the estimated low will see the stock gain 10.52% over that period. But an upside of 51.68% will see the stock hit the forecast high price target while median target price for the stock is $35.50.
Insiders at the company have transacted a total of 100 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 60 of these insider trades were purchases, accounting for 393,890 shares. Insider sales of the common stock occurred on 40 occasions, with total insider shares sold totaling 370,199 shares.
The top 3 mutual fund holders in Corcept Therapeutics Inc are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 6.04 million shares of the company’s stock, all valued at over $153.81 million. The company bought an additional 2940.0 shares recently to bring their total holdings to about 5.86% of the shares outstanding. Vanguard Total Stock Market ETF bought 4530.0 shares to see its total holdings expand to 2.58 million shares valued at over $65.61 million and representing 2.50% of the shares outstanding. Vanguard Small Cap Index Fund bought 6527.0 shares to bring its total holdings to over 2.13 million shares at a value of $54.13 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.06% of the shares outstanding.
Shares of Corcept Therapeutics Inc (NASDAQ: CORT) opened at $22.11, down -$10.37 from a prior closing price of $32.48. However, the script later moved the day high at 25.73, down -25.62%. The company’s stock has a 5-day price change of -26.25% and -8.10% over the past three months. CORT shares are trading -25.62% year to date (YTD), with the 12-month market performance up to 17.97% higher. It has a 12-month low price of $17.86 and touched a high of $34.28 over the same period. CORT has an average intraday trading volume of 717.17K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -18.29%, -12.28%, and -7.72% respectively.
Institutional ownership of Corcept Therapeutics Inc (NASDAQ: CORT) shares accounts for 78.17% of the company’s 107.83M shares outstanding. Mutual fund holders own 35.77%, while other institutional holders and individual stakeholders account for 42.69% and 35.65% respectively.
It has a market capitalization of $2.49B and a beta (3y monthly) value of 0.39. The stock’s trailing 12-month PE ratio is 29.85, while the earnings-per-share (ttm) stands at $0.81. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.17% over the week and 3.72% over the month.
Analysts forecast that Corcept Therapeutics Inc (CORT) will achieve an EPS of $Corcept Therapeutics Incorporat for the current quarter, $24.16 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Maplebear Inc. while analysts give the company a high EPS estimate of $Corteva, Inc.. Comparatively, EPS for the current quarter was $Copart, Inc. a year ago. Earnings per share for the fiscal year are expected to increase by 4.98%, and -14.23% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Corcept Therapeutics Inc (CORT) as a “Strong Buy” at a consensus score of 1.33. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CORT, a number of firms have released research notes about the stock. Truist stated their Buy rating for the stock in a research note on November 06, 2023, with the firm’s price target at $29-$38.
