Texas Permanent School Fund Takes Position in Corcept Therapeutics Incorporated (CORT)

Texas Permanent School Fund purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 41,928 shares of the biotechnology company’s stock, valued at approximately $757,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strs Ohio grew its stake in shares of Corcept Therapeutics by 4.1% during the fourth quarter. Strs Ohio now owns 60,800 shares of the biotechnology company’s stock valued at $1,098,000 after buying an additional 2,400 shares during the last quarter. Ingalls & Snyder LLC grew its stake in shares of Corcept Therapeutics by 0.6% during the fourth quarter. Ingalls & Snyder LLC now owns 6,923,695 shares of the biotechnology company’s stock valued at $125,042,000 after buying an additional 44,597 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at about $314,000. State of Alaska Department of Revenue bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at about $320,000. Finally, Acadian Asset Management LLC grew its stake in shares of Corcept Therapeutics by 8.1% during the fourth quarter. Acadian Asset Management LLC now owns 2,480,848 shares of the biotechnology company’s stock valued at $44,803,000 after buying an additional 185,454 shares during the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

Corcept Therapeutics Incorporated (CORT) opened at $15.98 on Friday. Corcept Therapeutics Incorporated has a 12 month low of $8.14 and a 12 month high of $25.96. The stock has a market capitalization of $1,775.77, a PE ratio of 53.65 and a beta of 1.68.

A number of brokerages have recently issued reports on CORT. BidaskClub raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 23rd. Piper Jaffray Companies set a $30.00 price objective on Corcept Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Stifel Nicolaus reduced their price objective on Corcept Therapeutics from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $21.00.

In other news, insider Robert S. Fishman sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $18.67, for a total transaction of $149,360.00. Following the transaction, the insider now directly owns 8,000 shares of the company’s stock, valued at $149,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 24,000 shares of company stock worth $415,920 over the last ninety days. Insiders own 19.20% of the company’s stock.

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About Corcept Therapeutics

Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).

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Institutional Ownership by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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