Van ECK Associates Corp Makes New Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Van ECK Associates Corp purchased a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 88,966 shares of the biotechnology company’s stock, valued at approximately $4,483,000. Van ECK Associates Corp owned about 0.08% of Corcept Therapeutics at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics in the 3rd quarter worth about $25,000. USA Financial Formulas acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $54,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $58,000. KBC Group NV lifted its stake in shares of Corcept Therapeutics by 21.3% in the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 496 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Corcept Therapeutics by 20.3% in the 4th quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 506 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total value of $130,812.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the sale, the insider now directly owns 85,318 shares of the company’s stock, valued at $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,011 shares of company stock worth $1,479,608. 20.50% of the stock is currently owned by insiders.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $72.60 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $74.61. The stock’s 50 day moving average price is $58.24 and its 200 day moving average price is $49.72. The firm has a market capitalization of $7.61 billion, a PE ratio of 57.62 and a beta of 0.58.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CORT shares. Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Friday, February 7th. Finally, StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $88.25.

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.