New York State Teachers Retirement System Acquires 3,789 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

New York State Teachers Retirement System raised its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 128,232 shares of the biotechnology company’s stock after buying an additional 3,789 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Corcept Therapeutics worth $6,462,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $25,000. USA Financial Formulas purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at approximately $54,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at approximately $58,000. KBC Group NV raised its stake in Corcept Therapeutics by 21.3% during the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 496 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Corcept Therapeutics by 20.3% during the fourth quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock valued at $151,000 after buying an additional 506 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CORT has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research note on Friday, February 7th. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Finally, Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $88.25.

Insider Activity at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.08, for a total value of $149,776.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Douglas Lyon sold 1,411 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total value of $80,031.92. Following the completion of the sale, the insider now owns 8,494 shares in the company, valued at approximately $481,779.68. The trade was a 14.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,011 shares of company stock valued at $1,479,608. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $73.53 on Thursday. The stock has a 50-day moving average price of $58.79 and a 200 day moving average price of $50.15. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $75.00. The stock has a market capitalization of $7.70 billion, a P/E ratio of 58.36 and a beta of 0.58. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.