Sanctuary Advisors LLC lifted its position in Corcept Therapeutics Incorporated (NASDAQ:CORT – Free Report) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,258 shares of the biotechnology company’s stock after purchasing an additional 905 shares during the quarter. Sanctuary Advisors LLC’s holdings in Corcept Therapeutics were worth $1,474,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics in the 3rd quarter worth approximately $25,000. USA Financial Formulas acquired a new stake in shares of Corcept Therapeutics in the fourth quarter worth $54,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Corcept Therapeutics in the fourth quarter worth $58,000. Principal Securities Inc. raised its holdings in shares of Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 483 shares during the last quarter. Finally, KBC Group NV lifted its position 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 purchasing an additional 496 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Canaccord Genuity Group raised their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research report on Friday, February 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $88.25.
Insider Activity at Corcept Therapeutics
In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $59.46, for a total value of $130,812.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,600 shares of company stock worth $1,399,576 in the last 90 days. Corporate insiders own 20.50% of the company’s stock.
Corcept Therapeutics Trading Down 2.7 %
Shares of Corcept Therapeutics stock opened at $61.81 on Tuesday. The firm has a 50-day simple moving average of $59.26 and a two-hundred day simple moving average of $50.88. 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 fifty-two week low of $20.84 and a fifty-two week high of $75.00. The company has a market cap of $6.48 billion, a P/E ratio of 49.06 and a beta of 0.58.
Corcept Therapeutics Company Profile
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.
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