Equities analysts expect Corcept Therapeutics Incorporated (NASDAQ:CORT) to announce $97.75 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Corcept Therapeutics’ earnings, with the highest sales estimate coming in at $98.00 million and the lowest estimate coming in at $97.49 million. Corcept Therapeutics reported sales of $86.33 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.2%. The firm is expected to issue its next quarterly earnings report on Tuesday, November 2nd.
On average, analysts expect that Corcept Therapeutics will report full-year sales of $374.21 million for the current financial year, with estimates ranging from $371.41 million to $377.00 million. For the next year, analysts expect that the firm will report sales of $438.33 million, with estimates ranging from $435.85 million to $440.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Corcept Therapeutics.
Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Thursday, July 29th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.07. Corcept Therapeutics had a net margin of 28.45% and a return on equity of 19.08%. The company had revenue of $91.59 million during the quarter, compared to the consensus estimate of $85.83 million.
Shares of CORT traded up $0.35 on Monday, hitting $20.64. 265,393 shares of the stock traded hands, compared to its average volume of 549,354. Corcept Therapeutics has a one year low of $16.52 and a one year high of $31.18. The business has a 50 day simple moving average of $20.86 and a 200 day simple moving average of $21.96. The company has a market capitalization of $2.39 billion, a PE ratio of 27.16, a P/E/G ratio of 1.80 and a beta of 0.69.
In other Corcept Therapeutics news, insider Sean Maduck sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 7th. The shares were sold at an average price of $22.19, for a total value of $554,750.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 7,500 shares of the stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $21.70, for a total transaction of $162,750.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at $162,750. The disclosure for this sale can be found here. Insiders sold a total of 136,694 shares of company stock worth $2,894,971 over the last quarter. 16.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CORT. Ameriprise Financial Inc. grew its holdings in shares of Corcept Therapeutics by 5.5% during the first quarter. Ameriprise Financial Inc. now owns 470,555 shares of the biotechnology company’s stock worth $11,194,000 after buying an additional 24,585 shares in the last quarter. UBS Group AG lifted its position in shares of Corcept Therapeutics by 1.5% during the first quarter. UBS Group AG now owns 41,569 shares of the biotechnology company’s stock worth $989,000 after purchasing an additional 621 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Corcept Therapeutics by 0.3% during the first quarter. Principal Financial Group Inc. now owns 746,416 shares of the biotechnology company’s stock worth $17,757,000 after purchasing an additional 2,400 shares in the last quarter. Burney Co. lifted its position in shares of Corcept Therapeutics by 2.3% during the second quarter. Burney Co. now owns 386,608 shares of the biotechnology company’s stock worth $8,506,000 after purchasing an additional 8,781 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Corcept Therapeutics by 4.1% during the second quarter. Victory Capital Management Inc. now owns 53,489 shares of the biotechnology company’s stock worth $1,176,000 after purchasing an additional 2,093 shares in the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.
About Corcept Therapeutics
Corcept Therapeutics, Inc is a commercial-stage pharmaceutical company, which engages in the discovery, development and commercialization of medications to treat severe metabolic, oncologic and psychiatric disorders. It focuses on the development of drugs for disorders that are associated with a steroid hormone called cortisol.
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