Corcept Therapeutics (NASDAQ:CORT – Get Rating) was downgraded by investment analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a note issued to investors on Tuesday.

Separately, HC Wainwright reduced their price objective on Corcept Therapeutics from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, December 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Corcept Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $31.25.

Corcept Therapeutics Stock Up 2.2 %

Shares of CORT traded up $0.49 during midday trading on Tuesday, hitting $22.93. The company's stock had a trading volume of 575,478 shares, compared to its average volume of 575,558. Corcept Therapeutics has a one year low of $16.47 and a one year high of $30.14. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 22.93 and a beta of 0.60. The company's fifty day simple moving average is $22.79 and its two-hundred day simple moving average is $25.48.

Insider Activity

In other Corcept Therapeutics news, insider Gary Charles Robb sold 4,814 shares of Corcept Therapeutics stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $26.03, for a total transaction of $125,308.42. Following the transaction, the insider now directly owns 21,329 shares of the company's stock, valued at approximately $555,193.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Sean Maduck sold 25,000 shares of the company's stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $25.57, for a total value of $639,250.00. Following the sale, the insider now directly owns 56,462 shares of the company's stock, valued at approximately $1,443,733.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gary Charles Robb sold 4,814 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $26.03, for a total transaction of $125,308.42. Following the sale, the insider now owns 21,329 shares of the company's stock, valued at $555,193.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,439 shares of company stock valued at $1,040,958. Insiders own 18.60% of the company's stock.

Institutional Trading of Corcept Therapeutics

Institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. bought a new stake in Corcept Therapeutics in the fourth quarter worth approximately $408,000. State of Alaska Department of Revenue lifted its position in shares of Corcept Therapeutics by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 66,614 shares of the biotechnology company's stock valued at $1,352,000 after acquiring an additional 619 shares during the period. Bank of New York Mellon Corp boosted its stake in Corcept Therapeutics by 4.0% during the third quarter. Bank of New York Mellon Corp now owns 998,792 shares of the biotechnology company's stock worth $25,609,000 after acquiring an additional 38,453 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Corcept Therapeutics in the third quarter worth $804,000. Finally, Captrust Financial Advisors increased its stake in Corcept Therapeutics by 143.1% in the third quarter. Captrust Financial Advisors now owns 18,555 shares of the biotechnology company's stock valued at $476,000 after purchasing an additional 10,923 shares in the last quarter. Institutional investors own 80.08% of the company's stock.

About Corcept Therapeutics

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Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.

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