Y Intercept Hong Kong Ltd Buys Shares of 42,018 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Y Intercept Hong Kong Ltd bought a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 42,018 shares of the biotechnology company’s stock, valued at approximately $2,117,000.

A number of other large investors also recently added to or reduced their stakes in CORT. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics during the 3rd quarter valued at about $25,000. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics during the 4th quarter valued at about $27,000. USA Financial Formulas bought a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $54,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $58,000. Finally, Principal Securities Inc. increased its stake in shares of Corcept Therapeutics by 63.6% in the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 483 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Corcept Therapeutics Price Performance

NASDAQ CORT opened at $61.81 on Tuesday. The business has a 50 day simple moving average of $59.26 and a 200 day simple moving average of $50.88. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week 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 stock has a market cap of $6.48 billion, a price-to-earnings ratio of 49.06 and a beta of 0.58.

Insider Buying and Selling

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,600 shares of company stock valued at $1,399,576. 20.50% of the stock is owned by corporate insiders.

About Corcept Therapeutics

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.