What is Zacks Research's Forecast for CORT FY2025 Earnings?

Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) - Equities researchers at Zacks Research dropped their FY2025 EPS estimates for shares of Corcept Therapeutics in a note issued to investors on Wednesday, December 18th. Zacks Research analyst K. Das now forecasts that the biotechnology company will post earnings of $1.55 per share for the year, down from their previous estimate of $1.56. The consensus estimate for Corcept Therapeutics' current full-year earnings is $1.35 per share.

A number of other brokerages have also commented on CORT. StockNews.com lowered Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 25th. Truist Financial lifted 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. HC Wainwright reiterated a "buy" rating and set a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. Sandler O'Neill restated a "buy" rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, Piper Sandler raised their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $65.25.

Corcept Therapeutics Price Performance

CORT stock traded down $0.50 during midday trading on Monday, reaching $50.90. 662,169 shares of the stock were exchanged, compared to its average volume of 1,156,132. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $62.22. The company has a fifty day moving average price of $53.94 and a 200 day moving average price of $42.15. 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 stock has a market capitalization of $5.33 billion, a PE ratio of 40.40 and a beta of 0.51.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.14. The firm had revenue of $182.55 million for 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% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. M&G PLC acquired a new position in shares of Corcept Therapeutics during the third quarter valued at about $11,173,000. Empowered Funds LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth approximately $1,784,000. Victory Capital Management Inc. boosted its holdings in Corcept Therapeutics by 49.2% in the third quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company's stock worth $1,936,000 after acquiring an additional 13,787 shares in the last quarter. State Street Corp grew its stake in Corcept Therapeutics by 0.6% in the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock valued at $162,871,000 after acquiring an additional 19,893 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Corcept Therapeutics by 20.0% in 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 acquiring an additional 143,507 shares during the period. 93.61% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Gary Charles Robb sold 11,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the sale, the insider now owns 22,772 shares of the company's stock, valued at $1,053,888.16. This trade represents a 32.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total value of $130,812.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,811 shares of company stock valued at $1,341,360. 20.50% of the stock is currently owned by insiders.

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.