Newbridge Financial Services Group Inc. Acquires New Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Newbridge Financial Services Group Inc. bought a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,155 shares of the biotechnology company’s stock, valued at approximately $58,000.

A number of other large investors have also bought and sold shares of CORT. Capital Performance Advisors LLP bought a new position in shares of Corcept Therapeutics during the 3rd quarter worth $25,000. Kathleen S. Wright Associates Inc. purchased a new stake in Corcept Therapeutics during the third quarter valued at about $36,000. USA Financial Formulas bought a new position in Corcept Therapeutics during the fourth quarter worth about $54,000. GAMMA Investing LLC increased its stake in shares of Corcept Therapeutics by 85.4% in the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 1,147 shares in the last quarter. Finally, KBC Group NV raised its position 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 during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 1,411 shares of Corcept Therapeutics stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the completion of the sale, the insider now directly owns 8,494 shares of the company’s stock, valued at approximately $481,779.68. The trade was a 14.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,007,800.00. Following the completion of the transaction, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,811 shares of company stock valued at $1,329,832. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Down 0.7 %

CORT opened at $67.54 on Tuesday. The firm has a market capitalization of $7.08 billion, a P/E ratio of 53.60 and a beta of 0.58. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $71.29. The company has a fifty day moving average price of $57.10 and a 200-day moving average price of $48.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research note on Friday. Finally, Canaccord Genuity Group raised their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $88.25.

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.