Corcept Therapeutics Incorporated (NASDAQ:CORT) Expected to Announce Quarterly Sales of $99.13 Million

Brokerages predict that Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) will announce sales of $99.13 million for the current quarter, according to Zacks. Two analysts have made estimates for Corcept Therapeutics’ earnings. The lowest sales estimate is $96.20 million and the highest is $102.05 million. Corcept Therapeutics posted sales of $79.44 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 24.8%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Corcept Therapeutics will report full year sales of $415.05 million for the current financial year, with estimates ranging from $408.00 million to $421.76 million. For the next financial year, analysts expect that the company will post sales of $464.29 million, with estimates ranging from $443.67 million to $483.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Corcept Therapeutics.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last announced its earnings results on Tuesday, February 15th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. Corcept Therapeutics had a net margin of 30.74% and a return on equity of 23.08%. The company had revenue of $98.82 million during the quarter, compared to analyst estimates of $101.17 million. During the same period in the previous year, the business posted $0.20 earnings per share.

CORT has been the topic of several analyst reports. Truist Financial initiated coverage on Corcept Therapeutics in a research report on Friday, January 28th. They set a “buy” rating and a $30.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price objective on shares of Corcept Therapeutics in a research report on Wednesday, February 16th. Canaccord Genuity Group initiated coverage on shares of Corcept Therapeutics in a report on Wednesday, February 2nd. They issued a “buy” rating and a $30.00 target price for the company. Finally, StockNews.com initiated coverage on shares of Corcept Therapeutics in a report on Thursday, March 31st. They set a “strong-buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $27.25.

Shares of CORT stock opened at $21.25 on Friday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 2.32 and a beta of 0.54. Corcept Therapeutics has a 1 year low of $15.82 and a 1 year high of $25.68. The firm has a fifty day moving average price of $23.71 and a 200-day moving average price of $21.23.

In related news, insider Gary Charles Robb sold 7,512 shares of the business’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $24.68, for a total value of $185,396.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 16.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Guggenheim Capital LLC lifted its stake in Corcept Therapeutics by 182.5% in the 3rd quarter. Guggenheim Capital LLC now owns 63,980 shares of the biotechnology company’s stock worth $1,259,000 after purchasing an additional 41,331 shares in the last quarter. Jefferies Group LLC increased its holdings in shares of Corcept Therapeutics by 23.8% in the third quarter. Jefferies Group LLC now owns 59,800 shares of the biotechnology company’s stock worth $1,177,000 after purchasing an additional 11,500 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Corcept Therapeutics by 144.7% in the third quarter. Victory Capital Management Inc. now owns 130,893 shares of the biotechnology company’s stock worth $2,576,000 after buying an additional 77,404 shares in the last quarter. Meritage Portfolio Management bought a new position in Corcept Therapeutics during the fourth quarter valued at approximately $208,000. Finally, Jupiter Asset Management Ltd. grew its holdings in Corcept Therapeutics by 100.8% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 241,939 shares of the biotechnology company’s stock valued at $4,761,000 after buying an additional 121,452 shares in the last quarter. Institutional investors own 69.10% of the company’s stock.

About Corcept Therapeutics (Get Rating)

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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