Which Way is The Street Betting Corcept Therapeutics Incorporated (NASDAQ:CORT) Will Go?

Based on the latest information, investors are looking at Corcept Therapeutics Incorporated (NASDAQ:CORT)’s short data and trying to figure out market sentiment on which way the market thinks the stock is moving. The firm has 16.08% of total shares float short, yielding a short ratio of 13.48.

Strictly technical traders typically don’t pay a whole lot of attention to fundamental factors such as value, competition, or company management. Technical analysts want to figure out trends based on indicators, charts, and prior price data. These types of traders are usually highly active and hold positions for short periods of time in order to capitalize on short-term price fluctuations. Active traders may be quick to unload a position if it does not pan out as expected. Technicians often pay a great deal of attention to support and resistance levels. These are levels where traders believe a specific stock will either see a bounce or a pullback. 

When investors engage in short selling or “shorting a stock”, they actually borrow shares from an existing owner, sell the borrowed shares at market price, and take the cash.  The short sellers then promise to replace the stock in the future and makes dividend payments out of their own pockets to cover the dividend income that is no longer exists on the original, now borrowed and sold, shares.

They hope that the stock price will fall or that the company will fail and go bankrupt, leading the equity holders to ruin.  The short sellers will then buy the stock back at a much lower price and replace the borrowed shares, pocketing the difference. 

Shorting a stock can be very risky if the price doesn’t decline like planned and, in fact, increases.  It’s important for any investor to understand the dangers and potentially catastrophic financial losses of short selling.

RECENT PERFORMANCE AND RECOMMENDATION

Let’s take a look at how the stock has been performing recently.  Over the past twelve months, Corcept Therapeutics Incorporated (NASDAQ:CORT)’s stock was -22.59%.  Over the last week of the month, it was 3.79%, -11.35% over the last quarter, and  -7.36% for the past six months. 

Over the past 50 days, Corcept Therapeutics Incorporated stock’s -41.33% off of the high and -7.00% removed from the low.  Their 52-Week High and Low are noted here.  -55.22% away from the high and -7.00% from the low. 

The consensus analysts recommendation at this point stands at 2.40 on Corcept Therapeutics Incorporated (NASDAQ:CORT).  This is based on a 1-5 scale where 1 indicates a Strong Buy and 5 a Strong Sell. The same analysts are predicting that the company shares will trade to $23.60 within the next 12-18 months. 

Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.