FourThought Financial Partners LLC Makes New $625,000 Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

FourThought Financial Partners LLC acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, Holdings Channel reports. The firm acquired 12,406 shares of the biotechnology company’s stock, valued at approximately $625,000.

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Corcept Therapeutics during the 3rd quarter worth $25,000. Kestra Investment Management LLC bought a new position in Corcept Therapeutics during the 4th quarter worth $27,000. USA Financial Formulas bought a new position in Corcept Therapeutics during the 4th quarter worth $54,000. Newbridge Financial Services Group Inc. bought a new position in Corcept Therapeutics during the 4th quarter worth $58,000. Finally, Principal Securities Inc. increased its position in shares of Corcept Therapeutics by 63.6% in the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 483 shares during the period. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $61.23 on Wednesday. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $75.00. 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 business’s 50-day moving average price is $59.38 and its two-hundred day moving average price is $51.07. The stock has a market cap of $6.42 billion, a PE ratio of 48.60 and a beta of 0.58.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction 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. This trade represents a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,600 shares of company stock worth $1,399,576 over the last 90 days. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics 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.