FY2030 Earnings Estimate for CORT Issued By HC Wainwright

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Equities researchers at HC Wainwright issued their FY2030 EPS estimates for Corcept Therapeutics in a research note issued on Friday, January 2nd. HC Wainwright analyst S. Ramakanth anticipates that the biotechnology company will earn $8.33 per share for the year. HC Wainwright currently has a “Buy” rating and a $90.00 target price on the stock. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $1.36 per share.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $207.64 million during the quarter, compared to the consensus estimate of $223.78 million. Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share.

A number of other research analysts also recently issued reports on CORT. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Wolfe Research lowered shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price target for the company. in a research report on Wednesday, December 31st. Truist Financial set a $50.00 price objective on shares of Corcept Therapeutics in a report on Wednesday, December 31st. UBS Group assumed coverage on shares of Corcept Therapeutics in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 target price on the stock. Finally, Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.83.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $35.85 on Monday. The stock has a 50 day moving average of $74.98 and a 200 day moving average of $74.32. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 40.74 and a beta of 0.23. Corcept Therapeutics has a 12 month low of $32.99 and a 12 month high of $117.33. The company has a current ratio of 3.14, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Abacus FCF Advisors LLC bought a new position in shares of Corcept Therapeutics during the third quarter valued at about $3,238,000. Pacer Advisors Inc. boosted its holdings in Corcept Therapeutics by 6,796.7% during the 3rd quarter. Pacer Advisors Inc. now owns 390,559 shares of the biotechnology company’s stock valued at $32,459,000 after acquiring an additional 384,896 shares during the period. Cerity Partners LLC boosted its holdings in Corcept Therapeutics by 21.4% during the 2nd quarter. Cerity Partners LLC now owns 746,593 shares of the biotechnology company’s stock valued at $54,800,000 after acquiring an additional 131,799 shares during the period. Synergy Asset Management LLC grew its position in Corcept Therapeutics by 96.1% during the 3rd quarter. Synergy Asset Management LLC now owns 506,856 shares of the biotechnology company’s stock worth $39,615,000 after acquiring an additional 248,362 shares during the last quarter. Finally, Ellsworth Advisors LLC bought a new stake in Corcept Therapeutics in the third quarter valued at approximately $769,000. 93.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider William Guyer sold 20,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $80.08, for a total transaction of $1,601,600.00. Following the sale, the insider directly owned 1,235 shares in the company, valued at approximately $98,898.80. The trade was a 94.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $79.53, for a total value of $397,650.00. Following the sale, the insider directly owned 10,277 shares in the company, valued at $817,329.81. This trade represents a 32.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 176,700 shares of company stock worth $13,675,398. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Company Profile

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.