According to Zacks, “Corcept’s only marketed drug, Korlym, is approved for the once-daily oral treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing’s syndrome. Corcept’s efforts to expand Korlym’s label are encouraging. Korlym is currently in a phase I/II study for the treatment of triple-negative breast cancer. We expect a successful label expansion of the drug to boost the company’s top line significantly. The second-most advanced candidate in Corcept’s pipeline is CORT125134. Corcept has begun dosing patients in a phase I/II study to treat patients with solid-tumor cancers. The company is also evaluating CORT125134’s efficacy in the treatment of patients with Cushing's syndrome. However, Corcept’s dependence on a single product for growth remains a concern. Any setback in the ongoing studies will adversely impact shares.”
Separately, FBR & Co restated a buy rating on shares of Corcept Therapeutics in a report on Thursday, August 4th.
Corcept Therapeutics (NASDAQ:CORT) opened at 6.5225 on Tuesday. The firm has a 50-day moving average price of $5.91 and a 200 day moving average price of $5.47. The stock has a market cap of $721.35 million, a price-to-earnings ratio of 724.7222 and a beta of 1.41. Corcept Therapeutics has a 1-year low of $3.22 and a 1-year high of $6.88.
Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Corcept Therapeutics had a return on equity of 19.40% and a net margin of 2.06%. The company had revenue of $19.70 million for the quarter, compared to the consensus estimate of $18.36 million. On average, equities research analysts anticipate that Corcept Therapeutics will post $0.04 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in Corcept Therapeutics during the second quarter worth approximately $100,000. Acrospire Investment Management LLC increased its position in Corcept Therapeutics by 61.9% in the second quarter. Acrospire Investment Management LLC now owns 23,475 shares of the company’s stock worth $128,000 after buying an additional 8,974 shares during the last quarter. BlackRock Inc. increased its position in Corcept Therapeutics by 709.7% in the second quarter. BlackRock Inc. now owns 27,699 shares of the company’s stock worth $151,000 after buying an additional 24,278 shares during the last quarter. Guggenheim Capital LLC increased its position in Corcept Therapeutics by 5.3% in the second quarter. Guggenheim Capital LLC now owns 29,791 shares of the company’s stock worth $163,000 after buying an additional 1,501 shares during the last quarter. Finally, Smith Asset Management Group LP increased its position in Corcept Therapeutics by 69.2% in the second quarter. Smith Asset Management Group LP now owns 30,080 shares of the company’s stock worth $164,000 after buying an additional 12,300 shares during the last quarter. Institutional investors and hedge funds own 41.33% of the company’s stock.
About Corcept Therapeutics
Corcept Therapeutics Inc is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company’s focus is on those disorders that are associated with a steroid hormone cortisol. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders.
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