CORT Stock Earnings Estimates Decreased by HC Wainwright

Key Points

• HC Wainwright cut its Q1 2027 EPS estimate for Corcept Therapeutics to $0.60 from $0.74, while keeping a Buy rating and $165 price target.
• Corcept’s latest quarter beat analyst expectations, with EPS of $1.01 and revenue of $340.47 million, up 64% year over year.
• Despite the strong results, shares came under pressure amid concerns about company guidance; analysts’ overall consensus rating remains “Moderate Buy,” with a $139.50 average price target.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) - Research analysts at HC Wainwright lowered their Q1 2027 earnings per share estimates for Corcept Therapeutics in a research note issued to investors on Wednesday, November 4th. HC Wainwright analyst S. Ramakanth now expects that the biotechnology company will post earnings per share of $0.60 for the quarter, down from their previous estimate of $0.74. HC Wainwright has a "Buy" rating and a $165.00 price objective on the stock. The consensus estimate for Corcept Therapeutics' current full-year earnings is $1.83 per share.

Several other research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Wolfe Research cut shares of Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 price target on the stock. in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Corcept Therapeutics from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, September 24th. Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Finally, Truist Financial assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They issued a "buy" rating and a $164.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $139.50.

Corcept Therapeutics Stock Down 3.3%

CORT opened at $79.22 on Thursday. The firm has a market cap of $8.56 billion, a P/E ratio of 64.51 and a beta of 0.54. The business's fifty day simple moving average is $109.43 and its 200 day simple moving average is $75.28. Corcept Therapeutics has a 52 week low of $28.66 and a 52 week high of $126.38.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.17. Corcept Therapeutics had a return on equity of 24.00% and a net margin of 16.53%. The company had revenue of $340.47 million during the quarter, compared to analysts' expectations of $339.12 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The business's revenue for the quarter was up 64.0% compared to the same quarter last year.

Insider Activity at Corcept Therapeutics

In other news, Director David Mahoney sold 103,606 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $118.25, for a total transaction of $12,251,409.50. Following the completion of the transaction, the director owned 1,133,539 shares of the company's stock, valued at $134,040,986.75. This represents a 8.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimberly Park sold 26,685 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $122.55, for a total transaction of $3,270,246.75. Following the transaction, the director owned 30,000 shares in the company, valued at approximately $3,676,500. The trade was a 47.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 382,536 shares of company stock worth $43,406,554. Corporate insiders own 20.70% of the company's stock.

Hedge Funds Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Corcept Therapeutics during the second quarter worth about $1,080,964,000. Parallel Advisors LLC raised its holdings in shares of Corcept Therapeutics by 2.5% in the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company's stock worth $160,329,000 after purchasing an additional 96,763 shares during the period. First Trust Advisors LP lifted its stake in shares of Corcept Therapeutics by 213.5% in the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company's stock valued at $87,609,000 after purchasing an additional 1,480,059 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Corcept Therapeutics in the 2nd quarter valued at about $49,185,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Corcept Therapeutics by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 455,248 shares of the biotechnology company's stock worth $18,351,000 after purchasing an additional 11,156 shares during the period. Institutional investors and hedge funds own 93.61% of the company's stock.

Key Headlines Impacting Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Q3 revenue rose 64% year over year to $340.5 million, topping the $336.4 million consensus estimate. Earnings of $1.01 per share also beat the $0.79 estimate. Stronger Korlym sales and growing Lifyorli uptake helped drive the results. Article: CORT's Q3 Earnings Beat
• Positive Sentiment: Piper Sandler reaffirmed its “overweight” rating and raised its price target to $173 from $165, signaling confidence in the company’s prospects. Article: Piper Sandler stock recommendations
• Neutral Sentiment: Corcept is awaiting a December 17 FDA decision on relacorilant and has projected $3 billion to $5 billion in Cushing’s syndrome revenue by 2030. The decision and longer-term sales target could be meaningful catalysts, but depend on regulatory and commercial success. Article: Corcept’s relacorilant decision and revenue target
• Negative Sentiment: Despite the earnings and revenue beats, shares sold off as investors reacted to company guidance, which appeared to disappoint or fall short of expectations. That forward-looking concern outweighed the strong quarterly results. Article: Corcept falls on guidance despite earnings beat

About Corcept Therapeutics

Corcept Therapeutics Incorporated NASDAQ: CORT is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company's research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept's primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing's syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.

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