Black Diamond Financial LLC Increases Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Black Diamond Financial LLC boosted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,200 shares of the biotechnology company’s stock after purchasing an additional 200 shares during the period. Black Diamond Financial LLC’s holdings in Corcept Therapeutics were worth $262,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp increased its holdings in Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after purchasing an additional 19,893 shares during the period. Geode Capital Management LLC grew its holdings in shares of Corcept Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock worth $110,108,000 after acquiring an additional 99,470 shares during the period. FMR LLC grew its holdings in shares of Corcept Therapeutics by 24.6% during the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after acquiring an additional 269,074 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Corcept Therapeutics by 40.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock worth $56,637,000 after acquiring an additional 352,947 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Corcept Therapeutics by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,487 shares of the biotechnology company’s stock worth $47,506,000 after acquiring an additional 53,191 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CORT shares. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. 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. Finally, 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Buy” and a consensus target price of $88.25.

Insider Buying and Selling

In related 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 directly owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.54, for a total value of $111,188.00. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock worth $1,399,576 in the last 90 days. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $63.54 on Monday. 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 company has a market capitalization of $6.66 billion, a P/E ratio of 50.43 and a beta of 0.58. The stock’s 50 day moving average is $59.13 and its 200 day moving average is $50.68. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $75.00.

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.