Corcept Therapeutics Incorporated $CORT Stock Bought by Profund Advisors LLC

Profund Advisors LLC lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 130.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,351 shares of the biotechnology company’s stock after acquiring an additional 8,700 shares during the period. Profund Advisors LLC’s holdings in Corcept Therapeutics were worth $1,769,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CORT. BlackRock Inc. acquired a new position in shares of Corcept Therapeutics during the 2nd quarter valued at about $1,080,964,000. Parallel Advisors LLC lifted its holdings in Corcept Therapeutics by 2.5% in the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after purchasing an additional 96,763 shares during the last quarter. First Trust Advisors LP lifted its holdings in Corcept Therapeutics by 213.5% in the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after purchasing an additional 1,480,059 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Corcept Therapeutics in the 2nd quarter worth approximately $49,185,000. Finally, Principal Financial Group Inc. boosted its position in Corcept Therapeutics by 2.5% during the first quarter. Principal Financial Group Inc. now owns 455,248 shares of the biotechnology company’s stock worth $18,351,000 after purchasing an additional 11,156 shares during the period. Institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CORT. HC Wainwright reiterated a “buy” rating and set a $165.00 price target on shares of Corcept Therapeutics in a report on Friday, September 18th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Zacks Research cut shares of Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Weiss Ratings raised shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Finally, Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $138.17.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $80.46 on Tuesday. The stock’s 50-day moving average is $111.14 and its 200-day moving average is $74.84. The company has a market cap of $8.70 billion, a P/E ratio of 191.58 and a beta of 0.40. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $126.38.

Insiders Place Their Bets

In other Corcept Therapeutics news, Director James N. Wilson sold 10,000 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $114.81, for a total value of $1,148,100.00. Following the transaction, the director directly owned 1,054,543 shares of the company’s stock, valued at $121,072,081.83. The trade was a 0.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph Lyon sold 9,190 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $116.13, for a total value of $1,067,234.70. Following the transaction, the insider owned 5,683 shares of the company’s stock, valued at approximately $659,966.79. This trade represents a 61.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 349,203 shares of company stock worth $40,686,076 in the last 90 days. 20.70% of the stock is owned by company insiders.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.