Corcept Therapeutics Incorporated (NASDAQ:CORT) Expected to Announce Quarterly Sales of $100.85 Million

Brokerages expect Corcept Therapeutics Incorporated (NASDAQ:CORTGet Rating) to report $100.85 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Corcept Therapeutics’ earnings, with the lowest sales estimate coming in at $100.00 million and the highest estimate coming in at $101.30 million. Corcept Therapeutics posted sales of $91.59 million in the same quarter last year, which suggests a positive year over year growth rate of 10.1%. The business is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Corcept Therapeutics will report full year sales of $408.77 million for the current fiscal year, with estimates ranging from $400.70 million to $415.62 million. For the next fiscal year, analysts expect that the business will post sales of $451.39 million, with estimates ranging from $443.67 million to $465.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Corcept Therapeutics.

Corcept Therapeutics (NASDAQ:CORTGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The biotechnology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). Corcept Therapeutics had a return on equity of 24.23% and a net margin of 29.42%. The company had revenue of $93.70 million during the quarter, compared to the consensus estimate of $103.23 million. During the same quarter last year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis.

Several research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $29.00 price objective on shares of Corcept Therapeutics in a research report on Wednesday, February 16th. Canaccord Genuity Group assumed coverage on shares of Corcept Therapeutics in a research report on Wednesday, February 2nd. They issued a “buy” rating and a $30.00 price objective for the company. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 6th. Finally, 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. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $27.25.

In other Corcept Therapeutics news, insider Gary Charles Robb sold 7,512 shares of the company’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $24.68, for a total transaction of $185,396.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 42,384 shares of company stock valued at $867,266 in the last quarter. Corporate insiders own 16.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Wealth Architects LLC acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at $225,000. Point72 Hong Kong Ltd grew its holdings in shares of Corcept Therapeutics by 17.1% in the 1st quarter. Point72 Hong Kong Ltd now owns 9,022 shares of the biotechnology company’s stock valued at $203,000 after buying an additional 1,315 shares during the period. Eaton Vance Management grew its holdings in shares of Corcept Therapeutics by 1.1% in the 1st quarter. Eaton Vance Management now owns 102,629 shares of the biotechnology company’s stock valued at $2,311,000 after buying an additional 1,141 shares during the period. Guggenheim Capital LLC grew its holdings in shares of Corcept Therapeutics by 9.7% in the 1st quarter. Guggenheim Capital LLC now owns 23,976 shares of the biotechnology company’s stock valued at $540,000 after buying an additional 2,116 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Corcept Therapeutics by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 348,586 shares of the biotechnology company’s stock valued at $7,850,000 after buying an additional 13,940 shares during the period. 80.03% of the stock is owned by institutional investors.

CORT stock traded up $0.17 during trading on Thursday, hitting $20.11. The company had a trading volume of 424,083 shares, compared to its average volume of 931,670. The firm has a 50-day moving average price of $22.22 and a 200-day moving average price of $21.31. Corcept Therapeutics has a 12 month low of $15.82 and a 12 month high of $25.68. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 2.08 and a beta of 0.54.

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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