Corcept Therapeutics (NASDAQ:CORT) Hits New 1-Year High - Here's Why

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $71.88 and last traded at $71.92, with a volume of 150564 shares. The stock had previously closed at $70.15.

Analyst Ratings Changes

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

Corcept Therapeutics Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock has a market capitalization of $7.62 billion, a P/E ratio of 57.71 and a beta of 0.58. The stock has a 50-day moving average price of $57.97 and a two-hundred day moving average price of $49.47.

Insider Activity at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $59.46, for a total value of $130,812.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the sale, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,011 shares of company stock worth $1,479,608 over the last quarter. Corporate insiders own 20.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CORT. Vanguard Group Inc. increased its stake in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock valued at $509,726,000 after purchasing an additional 109,294 shares in the last quarter. Parallel Advisors LLC raised its stake in Corcept Therapeutics by 0.4% during the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company's stock valued at $192,975,000 after buying an additional 15,908 shares during the last quarter. State Street Corp lifted its holdings in Corcept Therapeutics by 0.6% in the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock valued at $162,871,000 after acquiring an additional 19,893 shares during the period. Geode Capital Management LLC lifted its stake in shares of Corcept Therapeutics by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company's stock worth $110,108,000 after purchasing an additional 99,470 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Corcept Therapeutics by 4.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock worth $82,889,000 after buying an additional 64,321 shares during the last quarter. 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.