Zacks Research Has Bullish Forecast for CORT Q3 Earnings

Key Points

• Zacks Research raised Corcept Therapeutics’ Q3 2026 EPS estimate to $0.34 from $0.26, while maintaining a “Hold” rating. The full-year consensus EPS estimate is $1.13.
• Corcept exceeded expectations in its latest quarter, reporting $0.36 EPS versus the $0.02 consensus and revenue of $256.15 million, up 31.7% year over year.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $138.17, although insiders have sold $36.65 million of stock over the past 90 days.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) - Zacks Research increased their Q3 2026 earnings per share (EPS) estimates for shares of Corcept Therapeutics in a report issued on Wednesday, August 19th. Zacks Research analyst Team now expects that the biotechnology company will post earnings of $0.34 per share for the quarter, up from their previous estimate of $0.26. Zacks Research has a "Hold" rating on the stock. The consensus estimate for Corcept Therapeutics' current full-year earnings is $1.13 per share. Zacks Research also issued estimates for Corcept Therapeutics' Q3 2027 earnings at $0.66 EPS and Q4 2027 earnings at $0.63 EPS.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.34. The business had revenue of $256.15 million during the quarter, compared to analysts' expectations of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business's revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 earnings per share.

CORT has been the subject of several other reports. Canaccord Genuity Group increased their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. UBS Group set a $135.00 target price on shares of Corcept Therapeutics in a research note on Thursday, May 28th. Wall Street Zen raised shares of Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 1st. HC Wainwright increased their target price on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Truist Financial initiated coverage on shares of Corcept Therapeutics in a research note on Tuesday. They issued a "buy" rating and a $164.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $138.17.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $119.02 on Thursday. Corcept Therapeutics has a 1 year low of $28.66 and a 1 year high of $122.21. The firm has a market capitalization of $12.87 billion, a PE ratio of 283.39 and a beta of 0.45. The business's 50 day moving average price is $95.84 and its 200-day moving average price is $63.62.

Insider Buying and Selling

In other Corcept Therapeutics news, Director David L. Mahoney sold 20,000 shares of the company's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $84.53, for a total value of $1,690,600.00. Following the completion of the sale, the director directly owned 26,147 shares in the company, valued at $2,210,205.91. This represents a 43.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Atabak Mokari sold 80,000 shares of the firm's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $114.71, for a total value of $9,176,800.00. Following the completion of the sale, the chief financial officer directly owned 16,130 shares of the company's stock, valued at $1,850,272.30. This trade represents a 83.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 416,540 shares of company stock worth $36,652,354. 20.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Alberta Investment Management Corp acquired a new position in Corcept Therapeutics in the 2nd quarter valued at about $9,843,000. Avidity Partners Management LP purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at approximately $766,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $8,757,000. Norges Bank acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $24,213,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Corcept Therapeutics during the 4th quarter valued at approximately $2,021,000. Institutional investors and hedge funds own 93.61% of the company's stock.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source