Corcept Therapeutics (NASDAQ:CORT - Get Free Report) released its quarterly earnings results on Wednesday. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14, Briefing.com reports. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The business had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. Corcept Therapeutics's revenue for the quarter was up 47.7% on a year-over-year basis. Corcept Therapeutics updated its FY 2024 guidance to EPS.
Corcept Therapeutics Price Performance
Shares of NASDAQ CORT traded up $2.08 during mid-day trading on Thursday, reaching $48.97. The company's stock had a trading volume of 2,709,627 shares, compared to its average volume of 1,188,019. The stock has a fifty day moving average of $41.85 and a two-hundred day moving average of $34.29. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $50.07. The firm has a market capitalization of $5.10 billion, a PE ratio of 44.55 and a beta of 0.46.
Insider Activity at Corcept Therapeutics
In related news, insider Gary Charles Robb sold 3,101 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following the completion of the transaction, the insider now directly owns 23,190 shares of the company's stock, valued at approximately $828,114.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider William Guyer sold 10,000 shares of the company's stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last three months, insiders sold 24,101 shares of company stock valued at $972,817. Insiders own 20.50% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on the company. Piper Sandler boosted their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a report on Wednesday, September 18th. Canaccord Genuity Group reissued a "buy" rating and set a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Truist Financial upped their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday. Finally, Sandler O'Neill reaffirmed a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics presently has an average rating of "Buy" and an average target price of $65.25.
Check Out Our Latest Stock Analysis on CORT
About Corcept Therapeutics
(
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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.
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