Van ECK Associates Corp Takes $4.48 Million Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Van ECK Associates Corp purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 88,966 shares of the biotechnology company’s stock, valued at approximately $4,483,000.

A number of other institutional investors also recently modified their holdings of CORT. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics in the third quarter valued at about $25,000. USA Financial Formulas bought a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $54,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $58,000. KBC Group NV lifted its holdings in shares of Corcept Therapeutics by 21.3% in the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 496 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Corcept Therapeutics by 20.3% in the fourth quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 506 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of the company’s 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 transaction, the insider now owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Douglas Lyon sold 1,411 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.72, for a total value of $80,031.92. Following the completion of the transaction, the insider now directly owns 8,494 shares in the company, valued at $481,779.68. The trade was a 14.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,011 shares of company stock worth $1,479,608 over the last 90 days. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $72.60 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $58.24 and its two-hundred day moving average price is $49.72. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 57.62 and a beta of 0.58. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $74.61.

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.