Corcept Therapeutics Incorporated Forecasted to Earn Q2 2024 Earnings of $0.21 Per Share (NASDAQ:CORT)

Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) - Investment analysts at HC Wainwright boosted their Q2 2024 EPS estimates for shares of Corcept Therapeutics in a research note issued on Thursday, May 2nd. HC Wainwright analyst S. Ramakanth now forecasts that the biotechnology company will earn $0.21 per share for the quarter, up from their prior forecast of $0.20. HC Wainwright has a "Buy" rating and a $40.00 price objective on the stock. The consensus estimate for Corcept Therapeutics' current full-year earnings is $0.99 per share. HC Wainwright also issued estimates for Corcept Therapeutics' Q3 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.95 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.36 EPS and Q4 2025 earnings at $0.41 EPS.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. Corcept Therapeutics had a return on equity of 25.29% and a net margin of 22.38%. The firm had revenue of $146.80 million for the quarter, compared to analyst estimates of $141.19 million. During the same period in the previous year, the company posted $0.14 earnings per share. The company's quarterly revenue was up 38.9% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the company. Truist Financial raised their target price on Corcept Therapeutics from $42.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday. StockNews.com cut Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $40.10.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock traded down $0.54 during trading on Friday, hitting $24.52. 1,697,865 shares of the company's stock traded hands, compared to its average volume of 1,475,064. The company has a market cap of $2.55 billion, a PE ratio of 23.64 and a beta of 0.50. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $34.28. The firm's fifty day moving average price is $23.93 and its 200 day moving average price is $25.25.

Insiders Place Their Bets

In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the transaction, the chief accounting officer now owns 6,774 shares in the company, valued at approximately $176,124. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at $176,124. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $23.59, for a total transaction of $51,898.00. The disclosure for this sale can be found here. Insiders sold 81,583 shares of company stock worth $2,070,596 in the last quarter. 20.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of large investors have recently modified their holdings of the business. Handelsbanken Fonder AB grew its position in Corcept Therapeutics by 11.2% in the third quarter. Handelsbanken Fonder AB now owns 19,881 shares of the biotechnology company's stock valued at $542,000 after acquiring an additional 2,000 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth approximately $202,000. Cambridge Investment Research Advisors Inc. bought a new position in Corcept Therapeutics in the 3rd quarter valued at approximately $4,726,000. FinTrust Capital Advisors LLC acquired a new stake in Corcept Therapeutics in the third quarter valued at approximately $27,000. Finally, New York State Teachers Retirement System grew its stake in shares of Corcept Therapeutics by 2.7% during the third quarter. New York State Teachers Retirement System now owns 140,461 shares of the biotechnology company's stock worth $3,827,000 after buying an additional 3,734 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Company Profile

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.