Equities analysts expect Corcept Therapeutics (NASDAQ:CORT) to report earnings per share (EPS) of $0.17 for the current quarter, according to Zacks. Two analysts have provided estimates for Corcept Therapeutics’ earnings. Corcept Therapeutics posted earnings of $0.04 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 325%. The business is expected to report its next earnings report on Monday, May 7th.
According to Zacks, analysts expect that Corcept Therapeutics will report full-year earnings of $1.05 per share for the current financial year. For the next fiscal year, analysts expect that the business will report earnings of $1.70 per share. Zacks’ EPS calculations are an average based on a survey of research firms that follow Corcept Therapeutics.
Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $53.30 million during the quarter, compared to analysts’ expectations of $53.30 million. Corcept Therapeutics had a return on equity of 53.35% and a net margin of 81.11%. The company’s revenue for the quarter was up 123.9% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share.
Several equities research analysts have recently commented on the company. BidaskClub upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 23rd. Zacks Investment Research lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Piper Jaffray set a $30.00 price target on Corcept Therapeutics and gave the stock a “buy” rating in a research note on Monday, February 5th. Stifel Nicolaus cut their price target on Corcept Therapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Finally, B. Riley initiated coverage on Corcept Therapeutics in a research note on Thursday, March 8th. They issued a “buy” rating and a $30.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.80.
NASDAQ:CORT opened at $16.15 on Thursday. The firm has a market capitalization of $1,854.50, a PE ratio of 38.45 and a beta of 1.88. Corcept Therapeutics has a one year low of $8.90 and a one year high of $25.96.
In other Corcept Therapeutics news, Director Renee D. Gala purchased 10,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was acquired at an average price of $15.51 per share, for a total transaction of $155,100.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $15,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert S. Fishman sold 8,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $15.67, for a total value of $125,360.00. Following the completion of the sale, the insider now owns 8,000 shares of the company’s stock, valued at approximately $125,360. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock valued at $407,520 in the last quarter. 19.20% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. We Are One Seven LLC purchased a new stake in Corcept Therapeutics in the 4th quarter worth $106,000. Macquarie Group Ltd. purchased a new position in shares of Corcept Therapeutics during the third quarter valued at about $137,000. Caxton Associates LP purchased a new position in shares of Corcept Therapeutics during the third quarter valued at about $199,000. CAPROCK Group Inc. purchased a new position in shares of Corcept Therapeutics during the fourth quarter valued at about $214,000. Finally, OppenheimerFunds Inc. purchased a new position in shares of Corcept Therapeutics during the fourth quarter valued at about $230,000. Institutional investors and hedge funds own 77.22% of the company’s stock.
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Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated, a pharmaceutical company, discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery, as well as develops CLIA-validated assay to measure FKBP5 gene expression.
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