Corcept Therapeutics (CORT) Sets New 12-Month High at $20.85
Corcept Therapeutics Incorporated (NASDAQ:CORT) hit a new 52-week high during trading on Wednesday . The company traded as high as $20.85 and last traded at $19.94, with a volume of 2987400 shares changing hands. The stock had previously closed at $18.80.
A number of equities research analysts have commented on CORT shares. Piper Jaffray Companies set a $30.00 price objective on shares of Corcept Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 31st. BidaskClub raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Finally, Zacks Investment Research downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $21.00.
The company has a market capitalization of $2,370.00, a PE ratio of 71.76 and a beta of 1.89.
In related news, insider Robert S. Fishman sold 8,000 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $18.67, for a total transaction of $149,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director G Leonard Baker, Jr. sold 30,000 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $17.59, for a total transaction of $527,700.00. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock worth $810,820 over the last ninety days. Insiders own 19.20% of the company’s stock.
Large investors have recently modified their holdings of the stock. California Public Employees Retirement System boosted its stake in Corcept Therapeutics by 3.6% during the 2nd quarter. California Public Employees Retirement System now owns 148,200 shares of the biotechnology company’s stock worth $1,749,000 after purchasing an additional 5,200 shares during the period. Rhumbline Advisers boosted its stake in Corcept Therapeutics by 21.5% during the 2nd quarter. Rhumbline Advisers now owns 87,672 shares of the biotechnology company’s stock worth $1,035,000 after purchasing an additional 15,494 shares during the period. Prudential Financial Inc. boosted its stake in Corcept Therapeutics by 3,409.5% during the 2nd quarter. Prudential Financial Inc. now owns 633,223 shares of the biotechnology company’s stock worth $7,472,000 after purchasing an additional 615,180 shares during the period. Shaker Investments LLC OH acquired a new stake in Corcept Therapeutics during the 3rd quarter worth $2,202,000. Finally, Voya Investment Management LLC boosted its stake in Corcept Therapeutics by 46.2% during the 2nd quarter. Voya Investment Management LLC now owns 41,598 shares of the biotechnology company’s stock worth $491,000 after purchasing an additional 13,145 shares during the period. Hedge funds and other institutional investors own 64.64% of the company’s stock.
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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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