What is HC Wainwright’s Estimate for CORT FY2024 Earnings?

Corcept Therapeutics Incorporated (NASDAQ:CORT) – HC Wainwright boosted their FY2024 EPS estimates for shares of Corcept Therapeutics in a research note issued to investors on Thursday, October 31st. HC Wainwright analyst S. Ramakanth now forecasts that the biotechnology company will earn $1.44 per share for the year, up from their previous estimate of $1.12. HC Wainwright has a “Buy” rating and a $80.00 price objective on the stock. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $1.25 per share. HC Wainwright also issued estimates for Corcept Therapeutics’ Q4 2024 earnings at $0.44 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.46 EPS and FY2025 earnings at $1.74 EPS.

Several other equities research analysts have also recently commented on CORT. Piper Sandler boosted their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Canaccord Genuity Group restated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, Truist Financial increased their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $65.25.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $52.14 on Monday. Corcept Therapeutics has a fifty-two week low of $20.84 and a fifty-two week high of $52.35. The stock’s 50-day moving average is $43.05 and its two-hundred day moving average is $35.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The firm has a market cap of $5.46 billion, a P/E ratio of 41.38 and a beta of 0.45.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics during the third quarter worth about $25,000. Park Place Capital Corp bought a new stake in shares of Corcept Therapeutics in the 2nd quarter worth approximately $32,000. Atwood & Palmer Inc. acquired a new stake in shares of Corcept Therapeutics during the 2nd quarter worth approximately $35,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Corcept Therapeutics during the third quarter valued at approximately $36,000. Finally, FinTrust Capital Advisors LLC increased its position in shares of Corcept Therapeutics by 318.7% during the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 1,348 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the completion of the sale, the insider now directly owns 23,190 shares in the company, valued at $828,114.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the sale, the insider now owns 6,039 shares in the company, valued at approximately $213,176.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Charles Robb sold 3,101 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the transaction, the insider now owns 23,190 shares of the company’s stock, valued at approximately $828,114.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,101 shares of company stock worth $1,462,517. 20.50% of the stock is owned by insiders.

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.