Corcept Therapeutics Incorporated (NASDAQ:CORT) Position Trimmed by Legato Capital Management LLC

Legato Capital Management LLC lessened its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 5.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,316 shares of the biotechnology company’s stock after selling 1,725 shares during the quarter. Legato Capital Management LLC’s holdings in Corcept Therapeutics were worth $1,628,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Hancock Whitney Corp lifted its position in shares of Corcept Therapeutics by 1.2% in the 3rd quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after acquiring an additional 270 shares in the last quarter. KBC Group NV lifted its position in shares of Corcept Therapeutics by 21.3% in the 3rd 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of Corcept Therapeutics by 20.3% in the 4th 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 in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $25,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Corcept Therapeutics by 8.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,665 shares of the biotechnology company’s stock valued at $537,000 after acquiring an additional 814 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research report on Friday, February 7th. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $88.25.

Corcept Therapeutics Trading Up 0.8 %

Shares of NASDAQ:CORT opened at $68.11 on Wednesday. The firm has a fifty day moving average of $57.27 and a two-hundred day moving average of $48.73. The firm has a market capitalization of $7.14 billion, a P/E ratio of 54.06 and a beta of 0.58. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $71.29. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01.

Insider Activity at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Thursday, January 2nd. The shares were 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 approximately $4,299,174.02. The trade was a 18.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,811 shares of company stock valued at $1,329,832. Insiders own 20.50% 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.