Calamos Advisors LLC Decreases Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Calamos Advisors LLC reduced its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 11.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,326 shares of the biotechnology company’s stock after selling 4,908 shares during the period. Calamos Advisors LLC’s holdings in Corcept Therapeutics were worth $1,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in Corcept Therapeutics by 5.0% in the second quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company’s stock valued at $395,000 after acquiring an additional 580 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Corcept Therapeutics by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,780 shares of the biotechnology company’s stock valued at $1,585,000 after purchasing an additional 932 shares during the last quarter. Algert Global LLC purchased a new position in shares of Corcept Therapeutics in the second quarter worth approximately $412,000. Creative Planning grew its position in Corcept Therapeutics by 18.2% during the second quarter. Creative Planning now owns 11,626 shares of the biotechnology company’s stock valued at $378,000 after buying an additional 1,794 shares during the period. Finally, Cetera Investment Advisers increased its holdings in Corcept Therapeutics by 6.2% during the second quarter. Cetera Investment Advisers now owns 38,292 shares of the biotechnology company’s stock valued at $1,244,000 after buying an additional 2,244 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Trading Up 0.5 %

Shares of CORT stock opened at $66.91 on Wednesday. The stock has a fifty day simple moving average of $56.34 and a two-hundred day simple moving average of $47.56. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $71.29. The firm has a market capitalization of $7.01 billion, a PE ratio of 53.10 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.54, for a total value of $111,188.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Douglas Lyon sold 1,411 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the transaction, the insider now directly owns 8,494 shares of the company’s stock, valued at $481,779.68. This trade represents a 14.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,011 shares of company stock worth $1,461,568. 20.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CORT has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, Canaccord Genuity Group boosted their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $88.25.

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.