Corcept Therapeutics Incorporated (NASDAQ:CORT – Free Report) – Stock analysts at HC Wainwright increased their FY2023 earnings per share estimates for shares of Corcept Therapeutics in a research report issued to clients and investors on Thursday, November 2nd. HC Wainwright analyst S. Ramakanth now forecasts that the biotechnology company will post earnings of $0.88 per share for the year, up from their prior estimate of $0.73. HC Wainwright has a “Buy” rating and a $34.00 price objective on the stock. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $0.80 per share. HC Wainwright also issued estimates for Corcept Therapeutics’ Q4 2023 earnings at $0.21 EPS, Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.15 EPS, FY2026 earnings at $1.75 EPS and FY2027 earnings at $2.17 EPS.
Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. The company had revenue of $123.60 million for the quarter, compared to analyst estimates of $119.71 million. Corcept Therapeutics had a return on equity of 18.76% and a net margin of 20.20%. Corcept Therapeutics’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share.
Corcept Therapeutics Stock Up 1.3 %
Shares of Corcept Therapeutics stock opened at $25.62 on Friday. The stock’s fifty day moving average is $29.84 and its 200-day moving average is $26.47. The firm has a market capitalization of $2.63 billion, a PE ratio of 31.63 and a beta of 0.43. Corcept Therapeutics has a 12-month low of $17.86 and a 12-month high of $34.28.
Insider Buying and Selling
In other Corcept Therapeutics news, insider Hazel Hunt sold 20,455 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $30.89, for a total value of $631,854.95. Following the completion of the transaction, the insider now owns 73,146 shares of the company’s stock, valued at approximately $2,259,479.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Hazel Hunt sold 20,455 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $30.89, for a total value of $631,854.95. Following the completion of the transaction, the insider now directly owns 73,146 shares of the company’s stock, valued at approximately $2,259,479.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel N. Swisher, Jr. sold 1,550 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $32.73, for a total value of $50,731.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,544 shares of company stock valued at $3,941,330. Insiders own 19.80% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Linden Thomas Advisory Services LLC boosted its position in shares of Corcept Therapeutics by 0.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 56,116 shares of the biotechnology company’s stock worth $1,529,000 after purchasing an additional 368 shares during the last quarter. Barclays PLC boosted its position in shares of Corcept Therapeutics by 0.5% in the 1st quarter. Barclays PLC now owns 85,961 shares of the biotechnology company’s stock worth $1,862,000 after purchasing an additional 427 shares during the last quarter. Sei Investments Co. boosted its position in shares of Corcept Therapeutics by 3.0% in the 2nd quarter. Sei Investments Co. now owns 14,565 shares of the biotechnology company’s stock worth $394,000 after purchasing an additional 427 shares during the last quarter. Campbell Newman Asset Management Inc. raised its stake in Corcept Therapeutics by 1.0% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 48,645 shares of the biotechnology company’s stock worth $1,054,000 after buying an additional 459 shares during the period. Finally, Captrust Financial Advisors raised its stake in Corcept Therapeutics by 0.3% during the 2nd quarter. Captrust Financial Advisors now owns 228,167 shares of the biotechnology company’s stock worth $5,077,000 after buying an additional 621 shares during the period. 78.80% of the stock is currently owned by institutional investors.
Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe metabolic, oncologic, endocrine, and neurological disorders in the United States. It 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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