Principal Financial Group Inc. Purchases 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% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 517,332 shares of the biotechnology company’s stock after buying an additional 21,674 shares during the period. Principal Financial Group Inc.’s holdings in Corcept Therapeutics were worth $26,068,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of Corcept Therapeutics in the 3rd quarter worth $25,000. USA Financial Formulas bought a new position in shares of Corcept Therapeutics in the 4th quarter worth $54,000. Newbridge Financial Services Group Inc. bought a new position in shares of Corcept Therapeutics in the 4th quarter worth $58,000. Principal Securities Inc. boosted its position in shares of Corcept Therapeutics by 63.6% in the 4th 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 last quarter. Finally, KBC Group NV boosted 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 worth $131,000 after purchasing an additional 496 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics 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 sale, the insider now 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 through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,600 shares of company stock worth $1,399,576. Corporate insiders own 20.50% of the company’s stock.

Analyst Ratings Changes

CORT has been the topic of several recent research reports. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Finally, 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. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $88.25.

Corcept Therapeutics Stock Performance

CORT stock opened at $63.54 on Friday. The business’s 50-day moving average price is $59.13 and its two-hundred day moving average price is $50.57. 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 firm has a market cap of $6.66 billion, a PE ratio of 50.43 and a beta of 0.58. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $75.00.

Corcept Therapeutics Company 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.