Principal Financial Group Inc. Acquires 21,674 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Principal Financial Group Inc. raised its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 517,332 shares of the biotechnology company’s stock after acquiring an additional 21,674 shares during the period. Principal Financial Group Inc. owned about 0.49% of Corcept Therapeutics worth $26,068,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. M&G PLC acquired a new position in Corcept Therapeutics in the 3rd quarter valued at approximately $11,173,000. Synergy Asset Management LLC raised its holdings in Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after acquiring an additional 262,503 shares in the last quarter. Empowered Funds LLC acquired a new position in Corcept Therapeutics in the 3rd quarter valued at approximately $1,784,000. Victory Capital Management Inc. raised its holdings in Corcept Therapeutics by 49.2% in the 3rd quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock valued at $1,936,000 after acquiring an additional 13,787 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new position in Corcept Therapeutics in the 4th quarter valued at approximately $4,483,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Activity at Corcept Therapeutics

In related news, insider Sean Maduck sold 20,000 shares of the firm’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 sale, the insider now directly owns 85,318 shares of the company’s stock, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction 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 sold 26,600 shares of company stock valued at $1,399,576 in the last three months. Corporate insiders own 20.50% of the company’s stock.

Analyst Ratings Changes

CORT has been the subject of several recent research reports. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a report on Friday, February 7th. Finally, Canaccord Genuity Group increased 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, Corcept Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $88.25.

Corcept Therapeutics Trading Down 2.4 %

Shares of CORT opened at $63.54 on Friday. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $75.00. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $59.13 and a 200-day simple moving average of $50.57. The stock has a market cap of $6.66 billion, a PE ratio of 50.43 and a beta of 0.58.

Corcept Therapeutics 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.