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

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Analysts at HC Wainwright upped their FY2024 EPS estimates for Corcept Therapeutics in a research note issued on Thursday, October 31st. HC Wainwright analyst S. Ramakanth now anticipates that the biotechnology company will post earnings per share of $1.44 for the year, up from their prior forecast 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.

Other analysts also recently issued reports about the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Truist Financial raised their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Piper Sandler boosted their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $65.25.

Corcept Therapeutics Stock Performance

CORT stock opened at $52.14 on Monday. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $52.35. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 41.38 and a beta of 0.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock’s fifty day moving average is $43.05 and its two-hundred day moving average is $35.12.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) 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 the consensus estimate of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business’s revenue was up 47.7% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics during the 3rd quarter worth $25,000. Park Place Capital Corp acquired a new stake in Corcept Therapeutics during the 2nd quarter worth about $32,000. Atwood & Palmer Inc. purchased a new stake in Corcept Therapeutics during the second quarter valued at about $35,000. Kathleen S. Wright Associates Inc. purchased a new stake in Corcept Therapeutics during the third quarter valued at about $36,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 318.7% in the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,348 shares during the period. Institutional investors own 93.61% of the company’s stock.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $213,176.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction that occurred 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 transaction, the insider now owns 22,772 shares of the company’s stock, valued at $1,053,888.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William Guyer sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the sale, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,101 shares of company stock worth $1,462,517 over the last quarter. 20.50% of the stock is currently owned by company 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.