Equities research analysts expect that Corcept Therapeutics Incorporated (NASDAQ:CORT) will post sales of $71.60 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Corcept Therapeutics’ earnings. The highest sales estimate is $72.30 million and the lowest is $70.89 million. Corcept Therapeutics posted sales of $53.28 million in the same quarter last year, which would indicate a positive year over year growth rate of 34.4%. The firm is scheduled to announce its next earnings report on Thursday, February 28th.

According to Zacks, analysts expect that Corcept Therapeutics will report full-year sales of $256.02 million for the current financial year, with estimates ranging from $255.31 million to $256.72 million. For the next financial year, analysts forecast that the firm will report sales of $319.18 million, with estimates ranging from $295.22 million to $343.14 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Corcept Therapeutics.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Thursday, November 1st. The biotechnology company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). Corcept Therapeutics had a return on equity of 32.96% and a net margin of 63.79%. The company had revenue of $64.45 million during the quarter, compared to the consensus estimate of $67.42 million. During the same quarter in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 50.7% compared to the same quarter last year.

CORT has been the subject of several analyst reports. BidaskClub upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, September 1st. B. Riley reduced their price target on Corcept Therapeutics from $30.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, August 13th. Stifel Nicolaus reiterated a “hold” rating and issued a $11.00 price target (down from $20.00) on shares of Corcept Therapeutics in a report on Friday, August 10th. ValuEngine upgraded Corcept Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. Finally, Zacks Investment Research upgraded Corcept Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, September 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.83.

NASDAQ CORT traded down $0.37 during trading hours on Wednesday, hitting $13.01. The company had a trading volume of 1,231,630 shares, compared to its average volume of 1,269,341. Corcept Therapeutics has a 52 week low of $11.21 and a 52 week high of $25.96. The company has a market cap of $1.60 billion, a P/E ratio of 29.57 and a beta of 1.80.

In other news, Director G Leonard Baker, Jr. acquired 179,686 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were bought at an average price of $12.48 per share, with a total value of $2,242,481.28. Following the completion of the purchase, the director now directly owns 876,838 shares in the company, valued at $10,942,938.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G Leonard Baker, Jr. acquired 105,792 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was purchased at an average cost of $12.50 per share, for a total transaction of $1,322,400.00. Following the purchase, the director now owns 876,838 shares of the company’s stock, valued at $10,960,475. The disclosure for this purchase can be found here. In the last three months, insiders purchased 321,159 shares of company stock worth $4,025,880 and sold 24,000 shares worth $332,000. 15.00% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Corcept Therapeutics by 10.9% in the third quarter. BlackRock Inc. now owns 15,745,397 shares of the biotechnology company’s stock worth $220,750,000 after purchasing an additional 1,545,671 shares in the last quarter. Ingalls & Snyder LLC raised its position in Corcept Therapeutics by 7.3% in the second quarter. Ingalls & Snyder LLC now owns 7,316,990 shares of the biotechnology company’s stock valued at $115,023,000 after purchasing an additional 499,450 shares during the period. Dimensional Fund Advisors LP raised its position in Corcept Therapeutics by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,653,862 shares of the biotechnology company’s stock valued at $25,999,000 after purchasing an additional 77,213 shares during the period. Bank of New York Mellon Corp raised its position in Corcept Therapeutics by 8.5% in the third quarter. Bank of New York Mellon Corp now owns 1,299,714 shares of the biotechnology company’s stock valued at $18,222,000 after purchasing an additional 101,762 shares during the period. Finally, Northern Trust Corp raised its position in Corcept Therapeutics by 11.7% in the second quarter. Northern Trust Corp now owns 1,247,442 shares of the biotechnology company’s stock valued at $19,610,000 after purchasing an additional 130,839 shares during the period. 75.20% of the stock is currently owned by institutional investors.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated, a pharmaceutical company, discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric 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, as well as develops CLIA-validated assay to measure FKBP5 gene expression.

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