FY2024 Earnings Estimate for CORT Issued By Zacks Research

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Equities researchers at Zacks Research lifted their FY2024 EPS estimates for Corcept Therapeutics in a report released on Wednesday, November 20th. Zacks Research analyst K. Das now anticipates 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 posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. The business had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS.

Several other equities research analysts also recently weighed in on CORT. StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Piper Sandler lifted their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $65.25.

Corcept Therapeutics Trading Up 2.9 %

NASDAQ:CORT opened at $57.54 on Monday. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 45.67 and a beta of 0.45. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $61.66. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $48.41 and a 200 day moving average of $38.07.

Insiders Place Their Bets

In other Corcept Therapeutics 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 value of $131,736.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total value of $509,080.00. Following the completion of the transaction, the insider now owns 22,772 shares in the company, valued at $1,053,888.16. This represents a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,200 shares of company stock valued at $1,483,516 in the last ninety days. 20.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CORT. Oak Ridge Investments LLC purchased a new stake in Corcept Therapeutics during the 2nd quarter worth approximately $984,000. M&G PLC purchased a new position in Corcept Therapeutics in the 3rd quarter valued at approximately $11,173,000. Milestone Asset Management LLC grew its stake in shares of Corcept Therapeutics by 47.4% in the second quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock worth $1,676,000 after acquiring an additional 16,593 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Corcept Therapeutics by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock worth $240,962,000 after acquiring an additional 28,250 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of Corcept Therapeutics in the third quarter valued at $1,784,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

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.