Zacks Research Issues Optimistic Forecast for CORT Earnings

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Zacks Research lifted their FY2024 earnings per share estimates for shares of Corcept Therapeutics in a research report issued 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 prior estimate 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) last posted its earnings results 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. The business 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 firm’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS.

Other equities analysts have also issued research reports about the company. Truist Financial boosted 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. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics currently has an average rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Stock Up 2.6 %

Shares of CORT opened at $59.03 on Monday. The company has a market capitalization of $6.19 billion, a P/E 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 business’s 50 day simple moving average is $48.41 and its 200-day simple moving average is $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.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Corcept Therapeutics during the first quarter worth about $18,426,000. FMR LLC raised its holdings in Corcept Therapeutics by 24.6% during the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after buying an additional 269,074 shares during the period. M&G PLC bought a new position in Corcept Therapeutics in the third quarter valued at approximately $11,173,000. Janus Henderson Group PLC boosted its holdings in shares of 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 buying an additional 219,551 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of 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 worth $39,781,000 after acquiring an additional 143,507 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In other news, insider William Guyer sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the completion of the transaction, the insider now directly owns 6,039 shares in the company, valued at approximately $213,176.70. The trade was a 62.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’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 disclosure for this sale can be found here. Insiders sold a total of 33,200 shares of company stock worth $1,483,516 in the last quarter. 20.50% of the stock is owned by company 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.