State of Alaska Department of Revenue bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 17,740 shares of the biotechnology company’s stock, valued at approximately $320,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CORT. Victory Capital Management Inc. acquired a new stake in Corcept Therapeutics during the third quarter worth approximately $108,000. Macquarie Group Ltd. acquired a new stake in Corcept Therapeutics during the third quarter worth approximately $137,000. FNY Managed Accounts LLC acquired a new stake in Corcept Therapeutics during the third quarter worth approximately $173,000. PNC Financial Services Group Inc. grew its position in Corcept Therapeutics by 52.6% during the second quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock worth $116,000 after buying an additional 3,390 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in Corcept Therapeutics during the third quarter worth approximately $199,000. Institutional investors own 65.31% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Piper Jaffray Companies reissued a “buy” rating and set a $24.00 price target on shares of Corcept Therapeutics in a research report on Wednesday, October 11th. BidaskClub downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Finally, Stifel Nicolaus reduced their target price on Corcept Therapeutics from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Monday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $21.00.
In other Corcept Therapeutics news, insider Robert S. Fishman sold 8,000 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $18.67, for a total value of $149,360.00. Following the sale, the insider now owns 8,000 shares of the company’s stock, valued at approximately $149,360. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director G Leonard Baker, Jr. sold 30,000 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $17.59, for a total value of $527,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock worth $810,820. Company insiders own 19.20% of the company’s stock.
Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) opened at $17.26 on Tuesday. The firm has a market capitalization of $2,677.35, a price-to-earnings ratio of 59.52 and a beta of 1.68. Corcept Therapeutics Incorporated has a twelve month low of $7.58 and a twelve month high of $25.96.
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About Corcept Therapeutics
Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).
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