O Neil Global Advisors Inc. Takes $1.70 Million Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

O Neil Global Advisors Inc. purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 33,763 shares of the biotechnology company’s stock, valued at approximately $1,701,000. Corcept Therapeutics comprises approximately 0.5% of O Neil Global Advisors Inc.’s holdings, making the stock its 18th largest holding.

A number of other large investors also recently modified their holdings of CORT. Hancock Whitney Corp lifted its stake in Corcept Therapeutics by 1.2% during the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after buying an additional 270 shares in the last quarter. Principal Securities Inc. boosted its stake in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after buying an additional 483 shares in the last quarter. KBC Group NV grew its position in 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 acquiring an additional 496 shares during the period. GAMMA Investing LLC raised its stake in shares of Corcept Therapeutics by 20.3% in the fourth quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock valued at $151,000 after acquiring an additional 506 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in shares of Corcept Therapeutics in the fourth quarter valued at about $27,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Canaccord Genuity Group increased their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research note on Friday, February 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics presently 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 the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total value of $130,812.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,600 shares of company stock valued at $1,399,576. 20.50% of the stock is currently owned by company insiders.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $65.48 on Friday. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $75.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The stock’s 50 day moving average is $58.97 and its 200 day moving average is $50.25. The firm has a market cap of $6.86 billion, a P/E ratio of 51.96 and a beta of 0.58.

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.