Black Diamond Financial LLC Purchases 200 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Black Diamond Financial LLC grew its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,200 shares of the biotechnology company’s stock after buying an additional 200 shares during the quarter. Black Diamond Financial LLC’s holdings in Corcept Therapeutics were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CORT. Creative Planning lifted its holdings in shares of Corcept Therapeutics by 7.2% during the 3rd quarter. Creative Planning now owns 12,467 shares of the biotechnology company’s stock valued at $577,000 after buying an additional 841 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Corcept Therapeutics during the 3rd quarter valued at $238,000. Nisa Investment Advisors LLC lifted its holdings in shares of Corcept Therapeutics by 83.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 9,851 shares of the biotechnology company’s stock valued at $456,000 after buying an additional 4,483 shares during the period. Smith Group Asset Management LLC increased its stake in shares of Corcept Therapeutics by 25.3% in the 3rd quarter. Smith Group Asset Management LLC now owns 15,256 shares of the biotechnology company’s stock worth $706,000 after purchasing an additional 3,081 shares in the last quarter. Finally, abrdn plc increased its stake in shares of Corcept Therapeutics by 27.1% in the 3rd quarter. abrdn plc now owns 666,952 shares of the biotechnology company’s stock worth $30,867,000 after purchasing an additional 142,310 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CORT has been the subject of several analyst reports. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Friday, February 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $88.25.

Corcept Therapeutics Trading Down 2.4 %

Shares of CORT stock opened at $63.54 on Monday. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $75.00. 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 firm has a market capitalization of $6.66 billion, a PE ratio of 50.43 and a beta of 0.58. The stock has a fifty day simple moving average of $59.13 and a two-hundred day simple moving average of $50.68.

Insiders Place Their Bets

In other news, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 85,318 shares in the company, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s 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 disclosure for this sale can be found here. In the last quarter, insiders sold 26,600 shares of company stock worth $1,399,576. Corporate insiders own 20.50% of the company’s stock.

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.