FY2024 Earnings Estimate for CORT Issued By Zacks Research

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Stock analysts at Zacks Research upped their FY2024 EPS estimates for Corcept Therapeutics in a research note issued on Wednesday, November 20th. Zacks Research analyst K. Das now forecasts that the biotechnology company will post earnings of $1.26 per share for the year, up from their prior estimate of $1.03. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $1.31 per share. Zacks Research also issued estimates for Corcept Therapeutics’ Q1 2025 earnings at $0.29 EPS and Q2 2026 earnings at $0.53 EPS.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. During the same period last year, the company earned $0.28 EPS. Corcept Therapeutics’s revenue for the quarter was up 47.7% compared to the same quarter last year.

CORT has been the subject of several other reports. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Truist Financial upped their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Corcept Therapeutics has an average rating of “Buy” and an average price target of $65.25.

Corcept Therapeutics Trading Up 2.9 %

Shares of CORT stock opened at $57.54 on Monday. Corcept Therapeutics has a fifty-two week low of $20.84 and a fifty-two week high of $61.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The company has a market cap of $6.03 billion, a P/E ratio of 45.67 and a beta of 0.45. The stock has a 50 day simple moving average of $48.41 and a two-hundred day simple moving average of $38.07.

Insider Buying and Selling at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William Guyer sold 3,394 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $48.97, for a total transaction of $166,204.18. Following the completion of the sale, the insider now owns 5,796 shares of the company’s stock, valued at $283,830.12. This trade represents a 36.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,200 shares of company stock valued at $1,483,516 in the last 90 days. Insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds have recently made changes to their positions in the company. Oak Ridge Investments LLC purchased a new stake in Corcept Therapeutics in the second quarter worth about $984,000. M&G PLC purchased a new stake in Corcept Therapeutics during the 3rd quarter valued at $11,173,000. Milestone Asset Management LLC lifted its holdings in Corcept Therapeutics by 47.4% in the second quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock valued at $1,676,000 after acquiring an additional 16,593 shares during the period. Vanguard Group Inc. lifted its stake in shares of Corcept Therapeutics by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock worth $240,962,000 after purchasing an additional 28,250 shares during the period. Finally, Empowered Funds LLC bought a new position in Corcept Therapeutics in the third quarter worth approximately $1,784,000. 93.61% 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 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.