Zacks Research Has Bullish Estimate for CORT FY2024 Earnings

Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) - Equities researchers at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Corcept Therapeutics in a research note issued to investors on Wednesday, November 20th. Zacks Research analyst K. Das now forecasts that the biotechnology company will earn $1.26 per share for the year, up from their previous forecast of $1.03. The consensus estimate for Corcept Therapeutics' current full-year earnings is $1.35 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share 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 firm 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 posted $0.28 EPS. The business's quarterly revenue was up 47.7% on a year-over-year basis.

CORT has been the subject of a number of other reports. Truist Financial boosted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Piper Sandler increased their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a research report on Wednesday, September 18th. 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 report on Thursday, October 31st. Finally, StockNews.com raised shares of Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 31st. Five equities 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, the company has a consensus rating of "Buy" and a consensus target price of $65.25.

Corcept Therapeutics Stock Up 2.6 %

Shares of CORT stock traded up $1.49 on Monday, reaching $59.03. 1,501,173 shares of the company were exchanged, compared to its average volume of 1,179,222. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 46.85 and a beta of 0.45. Corcept Therapeutics has a one year low of $20.84 and a one year high of $61.66. The company has a 50-day moving average of $48.41 and a 200-day moving average of $38.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.88, for a total transaction of $131,736.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Charles Robb sold 11,000 shares of the business's stock in a transaction 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 sale, the insider now owns 22,772 shares in the company, valued at approximately $1,053,888.16. The trade was a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,200 shares of company stock worth $1,483,516. 20.50% of the stock is owned by company insiders.

Institutional Trading of Corcept Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Corcept Therapeutics in the first quarter worth $18,426,000. FMR LLC grew its holdings in shares of Corcept Therapeutics by 24.6% during the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company's stock worth $63,122,000 after purchasing an additional 269,074 shares in the last quarter. M&G PLC bought a new position in shares of Corcept Therapeutics in the third quarter worth approximately $11,173,000. Janus Henderson Group PLC raised its stake in Corcept Therapeutics by 482.6% in the first quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company's stock valued at $6,677,000 after purchasing an additional 219,551 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Corcept Therapeutics by 20.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company's stock valued at $39,781,000 after purchasing an additional 143,507 shares during the last quarter. 93.61% of the stock is currently owned by 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.