Corcept Therapeutics (NASDAQ:CORT) Reaches New 52-Week High – Time to Buy?

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $75.00 and last traded at $72.86, with a volume of 219338 shares trading hands. The stock had previously closed at $72.60.

Analyst Ratings Changes

CORT has been the topic of a number of research reports. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Canaccord Genuity Group boosted their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, HC Wainwright restated a “buy” rating and issued 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, Based on data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Buy” and a consensus price target of $88.25.

Corcept Therapeutics Stock Down 2.4 %

The stock has a 50-day moving average of $58.97 and a 200 day moving average of $50.25. The company has a market capitalization of $6.66 billion, a PE ratio of 50.43 and a beta of 0.58. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were 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 $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 is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,600 shares of company stock worth $1,399,576. Insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Several institutional investors have recently made changes to their positions in CORT. Cache Advisors LLC bought a new stake in shares of Corcept Therapeutics during the 4th quarter valued at $378,000. Public Employees Retirement System of Ohio grew its holdings in Corcept Therapeutics by 269.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company’s stock valued at $144,000 after buying an additional 2,086 shares in the last quarter. Vise Technologies Inc. bought a new stake in shares of Corcept Therapeutics during the fourth quarter valued at about $204,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Corcept Therapeutics by 11.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 224,713 shares of the biotechnology company’s stock worth $11,323,000 after buying an additional 22,361 shares in the last quarter. Finally, Teza Capital Management LLC bought a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $212,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

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.