Zacks Research Brokers Increase Earnings Estimates for CORT

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for shares of Corcept Therapeutics in a research report issued to clients and investors on Wednesday, November 20th. Zacks Research analyst K. Das now anticipates that the biotechnology company will earn $1.26 per share for the year, up from their prior 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) last posted 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. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same period in the prior year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was up 47.7% compared to the same quarter last year.

Other equities analysts have also recently issued reports about the stock. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Piper Sandler lifted their target price 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. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has a consensus rating of “Buy” and an average price target of $65.25.

Corcept Therapeutics Stock Performance

CORT opened at $59.03 on Monday. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The stock 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 12-month low of $20.84 and a 12-month high of $61.66. The business has a 50 day moving average of $48.41 and a 200-day moving average of $38.07.

Insiders Place Their Bets

In other news, insider Gary Charles Robb sold 11,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 22,772 shares in the company, valued at approximately $1,053,888.16. The trade was a 32.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.88, for a total transaction of $131,736.00. The disclosure for this sale can be found here. Insiders sold 33,200 shares of company stock worth $1,483,516 in the last quarter. 20.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CORT. Vanguard Group Inc. raised its holdings in shares of Corcept Therapeutics by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock worth $240,962,000 after buying an additional 28,250 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Corcept Therapeutics by 27.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,344 shares of the biotechnology company’s stock valued at $210,000 after purchasing an additional 1,808 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Corcept Therapeutics by 950.2% in the 1st quarter. Advisors Asset Management Inc. now owns 5,587 shares of the biotechnology company’s stock valued at $141,000 after purchasing an additional 5,055 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Corcept Therapeutics in the first quarter valued at approximately $703,000. Finally, Janus Henderson Group PLC grew its stake in shares of Corcept Therapeutics by 482.6% during the first quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock worth $6,677,000 after buying an additional 219,551 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.