Corcept Therapeutics Inc (CORT) Gets a Hold Rating from Cantor Fitzgerald

Cantor Fitzgerald analyst Charles Duncan reiterated a Hold rating on Corcept Therapeutics Inc (CORTResearch Report) today and set a price target of $14. The company’s shares closed yesterday at $11.41.

Duncan wrote:

“. We reiterate our Neutral rating and our PT of $14 per share on CORT. Corcept reported 1Q19 revenues of $64.8M, which were below our estimate ($67.5M) and FactSet consensus ($69.3M). Korlym revenue growth was 12% YoY, and sequentially it was -3%. The company ended 1Q19 with current cash of ~$216M, and we project that cash and Korlym revs/profits can fund Corcept well through the P3 study of Relacorilant in Cushing’s.”

According to TipRanks.com, Duncan is a 4-star analyst with an average return of 6.8% and a 49.2% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and KalVista Pharmaceuticals Inc.

Corcept Therapeutics Inc has an analyst consensus of Hold, with a price target consensus of $13.

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Corcept Therapeutics Inc’s market cap is currently $1.31B and has a P/E ratio of 19.15. The company has a Price to Book ratio of 4.76.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CORT in relation to earlier this year. Most recently, in March 2019, James N. Wilson, a Director at CORT bought 105,782 shares for a total of $243,299.

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Corcept Therapeutics, Inc. is a commercial-stage pharmaceutical company, which engages in the discovery, development and commercialization of medications to treat severe metabolic, oncologic and psychiatric disorders. It focuses on the development of drugs for disorders that are associated with a steroid hormone called cortisol.