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


Cantor Fitzgerald analyst Charles Duncan reiterated a Hold rating on Corcept Therapeutics Inc (CORT) today and set a price target of $14. The company’s shares opened today at $11.59.

Duncan said:

“. We reiterate our Neutral rating and our PT of $14 per share of CORT. Corcept reported 4Q18 revenues of $66.8M which were in line with our estimate and slightly below consensus (FactSet) estimates. The company ended 4Q18 with cash of ~$206.8M. We model current cash and projected Korlym revenues to fund P3 study of Relacorilant in Cushing’s as well as signal-seeking studies underway with several earlier candidates. YoY growth for Korlym revenues was 58%. Questions on the call revolved around the slowdown in revenue growth implied by guidance for 2019 which includes the possibility of patients on Korlym entering clinical trials for rela’ or a competitor trial.”

According to TipRanks.com, Duncan is a 3-star analyst with an average return of 1.8% and a 47.6% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

Currently, the analyst consensus on Corcept Therapeutics Inc is a Moderate Buy with an average price target of $17.

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Based on Corcept Therapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $17.75 million. In comparison, last year the company had a net profit of $98.33 million.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2018, Joseph Belanoff, the CEO of CORT sold 217,115 shares for a total of $4,125,185.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Corcept Therapeutics, Inc. engages in the development of drugs for the treatment of severe psychiatric, neurological, and metabolic disorders. It focuses on the development of drugs for disorders that are associated with a steroid hormone called cortisol. Its products include korlym and korlym support. The company was founded by David B. Singer and Joseph K.

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