Kestra Investment Management LLC Makes New Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Kestra Investment Management LLC purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 532 shares of the biotechnology company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CORT. Jacobs Levy Equity Management Inc. lifted its position in shares of Corcept Therapeutics by 40.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock worth $56,637,000 after purchasing an additional 352,947 shares during the last quarter. Braun Stacey Associates Inc. acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth approximately $14,935,000. FMR LLC lifted its holdings in shares of Corcept Therapeutics by 24.6% during the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after buying an additional 269,074 shares during the last quarter. Synergy Asset Management LLC boosted its position in shares of Corcept Therapeutics by 131.3% in the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after acquiring an additional 262,503 shares during the period. Finally, M&G PLC acquired a new stake in shares of Corcept Therapeutics in the third quarter worth $11,173,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock opened at $63.54 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $75.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm has a market cap of $6.66 billion, a P/E ratio of 50.43 and a beta of 0.58. The firm’s 50-day simple moving average is $59.13 and its 200-day simple moving average is $50.57.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CORT shares. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research note on Friday, February 7th. Finally, StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $88.25.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was 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 in the company, valued at $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.54, for a total value of $111,188.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,600 shares of company stock valued at $1,399,576. Corporate insiders own 20.50% of the company’s stock.

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.