Zacks Research Analysts Boost Earnings Estimates for Corcept Therapeutics Incorporated (NASDAQ:CORT)
Posted by MarketBeat News on Apr 11th, 2024
Corcept Therapeutics Incorporated (NASDAQ:CORT – Free Report) – Equities research analysts at Zacks Research upped their Q2 2025 earnings estimates for Corcept Therapeutics in a report released on Monday, April 8th. Zacks Research analyst K. Das now expects that the biotechnology company will post earnings per share of $0.26 for the quarter, up from their previous estimate of $0.25. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $0.92 per share. Zacks Research also issued estimates for Corcept Therapeutics’ Q3 2025 earnings at $0.25 EPS, Q4 2025 earnings at $0.38 EPS and FY2025 earnings at $1.10 EPS.
Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $135.41 million for the quarter, compared to analyst estimates of $129.27 million. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The business’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 earnings per share.
A number of other analysts have also commented on CORT. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 24th. Canaccord Genuity Group increased their price objective on Corcept Therapeutics from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 13th. Truist Financial increased their price objective on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, HC Wainwright dropped their price objective on Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.79.
Check Out Our Latest Research Report on Corcept Therapeutics
Corcept Therapeutics Stock Performance
Corcept Therapeutics stock opened at $23.80 on Tuesday. The company has a 50-day simple moving average of $23.77 and a 200-day simple moving average of $25.81. The firm has a market capitalization of $2.46 billion, a P/E ratio of 25.05 and a beta of 0.48. Corcept Therapeutics has a one year low of $20.87 and a one year high of $34.28.
Institutional Trading of Corcept Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of CORT. Linden Thomas Advisory Services LLC raised its stake in Corcept Therapeutics by 0.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 56,116 shares of the biotechnology company’s stock worth $1,529,000 after purchasing an additional 368 shares in the last quarter. AQR Capital Management LLC grew its holdings in Corcept Therapeutics by 0.5% during the 3rd quarter. AQR Capital Management LLC now owns 79,945 shares of the biotechnology company’s stock worth $2,178,000 after acquiring an additional 416 shares during the last quarter. Sei Investments Co. grew its holdings in Corcept Therapeutics by 3.0% during the 2nd quarter. Sei Investments Co. now owns 14,565 shares of the biotechnology company’s stock worth $394,000 after acquiring an additional 427 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Corcept Therapeutics by 27.0% in the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 448 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Corcept Therapeutics by 9.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.
Insiders Place Their Bets
In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,443 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total value of $141,518.00. Following the sale, the insider now directly owns 7,314 shares in the company, valued at $190,164. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Joseph Douglas Lyon sold 5,443 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total value of $141,518.00. Following the completion of the transaction, the insider now owns 7,314 shares of the company’s stock, valued at $190,164. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,783 shares of company stock worth $2,118,996. Company insiders own 18.60% of the company’s stock.
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.
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