American Century Companies Inc. increased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 205.4% during the 4th quarter, HoldingsChannel reports. The firm owned 425,554 shares of the biotechnology company’s stock after purchasing an additional 286,194 shares during the period. American Century Companies Inc.’s holdings in Corcept Therapeutics were worth $7,686,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at about $373,000. Comerica Bank acquired a new stake in Corcept Therapeutics in the 4th quarter valued at approximately $2,438,000. Engineers Gate Manager LP acquired a new stake in Corcept Therapeutics in the 4th quarter valued at approximately $1,547,000. Denali Advisors LLC acquired a new stake in Corcept Therapeutics in the 4th quarter valued at approximately $4,930,000. Finally, Texas Permanent School Fund acquired a new stake in Corcept Therapeutics in the 4th quarter valued at approximately $757,000. Institutional investors and hedge funds own 74.00% of the company’s stock.
A number of equities research analysts recently issued reports on the company. BidaskClub lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 7th. Stifel Nicolaus dropped their target price on Corcept Therapeutics from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Piper Jaffray Companies set a $30.00 target price on Corcept Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, Zacks Investment Research lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $21.00.
In related news, insider Robert S. Fishman sold 8,000 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $16.72, for a total value of $133,760.00. Following the sale, the insider now owns 8,000 shares of the company’s stock, valued at approximately $133,760. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 24,000 shares of company stock worth $415,920. 19.20% of the stock is owned by insiders.
Shares of Corcept Therapeutics Incorporated (NASDAQ CORT) opened at $15.35 on Wednesday. Corcept Therapeutics Incorporated has a 1 year low of $8.14 and a 1 year high of $25.96. The stock has a market capitalization of $1,750.00, a P/E ratio of 52.93 and a beta of 1.68.
Corcept Therapeutics Company Profile
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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