State of New Jersey Common Pension Fund D Sells 15,019 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

State of New Jersey Common Pension Fund D reduced its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 26.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,655 shares of the biotechnology company’s stock after selling 15,019 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Corcept Therapeutics were worth $2,099,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CORT. Capital Performance Advisors LLP bought a new position in shares of Corcept Therapeutics during the third quarter valued at about $25,000. USA Financial Formulas purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $54,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $58,000. Principal Securities Inc. boosted its holdings in shares of 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 purchasing an additional 483 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Corcept Therapeutics by 21.3% during the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 496 shares during the period. 93.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, 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 transaction of $1,007,800.00. Following the completion of the transaction, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $59.46, for a total transaction of $130,812.00. The disclosure for this sale can be found here. Insiders sold 26,600 shares of company stock worth $1,399,576 over the last three months. Company insiders own 20.50% of the company’s stock.

Wall Street Analysts Forecast Growth

CORT has been the subject of a number of analyst reports. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a report on Friday, February 7th. Finally, Canaccord Genuity Group raised their price objective on shares of 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, the stock presently has a consensus rating of “Buy” and a consensus target price of $88.25.

Corcept Therapeutics Stock Performance

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