Corcept Therapeutics Incorporated (NASDAQ:CORT) Expected to Post Earnings of $0.23 Per Share

Equities analysts expect Corcept Therapeutics Incorporated (NASDAQ:CORTGet Rating) to announce earnings of $0.23 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Corcept Therapeutics’ earnings. The highest EPS estimate is $0.24 and the lowest is $0.22. Corcept Therapeutics posted earnings of $0.18 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 27.8%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Corcept Therapeutics will report full-year earnings of $0.87 per share for the current fiscal year, with EPS estimates ranging from $0.76 to $0.96. For the next fiscal year, analysts forecast that the business will report earnings of $1.04 per share, with EPS estimates ranging from $0.87 to $1.21. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that cover Corcept Therapeutics.

Corcept Therapeutics (NASDAQ:CORTGet Rating) last released its quarterly earnings data on Tuesday, February 15th. The biotechnology company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.04. The firm had revenue of $98.82 million for the quarter, compared to the consensus estimate of $101.17 million. Corcept Therapeutics had a net margin of 30.74% and a return on equity of 23.08%. During the same quarter in the prior year, the company posted $0.20 earnings per share.

Several brokerages have issued reports on CORT. Truist Financial assumed coverage on shares of Corcept Therapeutics in a research report on Friday, January 28th. They set a “buy” rating and a $30.00 target price for the company. StockNews.com assumed coverage on shares of Corcept Therapeutics in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Canaccord Genuity Group assumed coverage on shares of Corcept Therapeutics in a research report on Wednesday, February 2nd. They set a “buy” rating and a $30.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $29.00 price objective on shares of Corcept Therapeutics in a research report on Wednesday, February 16th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Corcept Therapeutics currently has an average rating of “Buy” and a consensus target price of $27.25.

In other news, insider Gary Charles Robb sold 7,512 shares of Corcept Therapeutics stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $24.68, for a total transaction of $185,396.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.50% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Guggenheim Capital LLC grew its stake in Corcept Therapeutics by 182.5% in the third quarter. Guggenheim Capital LLC now owns 63,980 shares of the biotechnology company’s stock valued at $1,259,000 after purchasing an additional 41,331 shares during the last quarter. Jefferies Group LLC lifted its holdings in shares of Corcept Therapeutics by 23.8% during the third quarter. Jefferies Group LLC now owns 59,800 shares of the biotechnology company’s stock worth $1,177,000 after purchasing an additional 11,500 shares during the period. Victory Capital Management Inc. lifted its holdings in Corcept Therapeutics by 144.7% in the third quarter. Victory Capital Management Inc. now owns 130,893 shares of the biotechnology company’s stock valued at $2,576,000 after acquiring an additional 77,404 shares during the period. Meritage Portfolio Management acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $208,000. Finally, Jupiter Asset Management Ltd. raised its stake in shares of Corcept Therapeutics by 100.8% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 241,939 shares of the biotechnology company’s stock worth $4,761,000 after buying an additional 121,452 shares during the period. Hedge funds and other institutional investors own 69.10% of the company’s stock.

CORT opened at $21.51 on Wednesday. The firm has a 50-day moving average price of $23.69 and a 200-day moving average price of $21.23. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 2.19 and a beta of 0.54. Corcept Therapeutics has a twelve month low of $15.82 and a twelve month high of $25.68.

Corcept Therapeutics Company Profile (Get Rating)

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric 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.

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Earnings History and Estimates for Corcept Therapeutics (NASDAQ:CORT)

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