Zacks Research Issues Optimistic Estimate for CORT Earnings

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Stock analysts at Zacks Research upped their FY2028 earnings estimates for Corcept Therapeutics in a research report issued on Thursday, May 21st. Zacks Research analyst Team now forecasts that the biotechnology company will post earnings of $3.14 per share for the year, up from their prior forecast of $3.02. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $0.48 per share.

Other analysts have also recently issued reports about the company. UBS Group upgraded Corcept Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $72.00 in a report on Wednesday, May 13th. HC Wainwright upped their price objective on shares of Corcept Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wolfe Research upgraded shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Piper Sandler increased their price objective on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.83.

Corcept Therapeutics Trading Up 1.1%

CORT stock opened at $59.69 on Friday. The firm has a 50-day moving average of $44.26 and a two-hundred day moving average of $52.55. Corcept Therapeutics has a 12 month low of $28.66 and a 12 month high of $91.00. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 170.55 and a beta of 0.36.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The firm had revenue of $164.90 million during the quarter, compared to analyst estimates of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS.

Insiders Place Their Bets

In other news, CEO Joseph K. Belanoff sold 26,198 shares of the firm’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $50.07, for a total value of $1,311,733.86. Following the completion of the sale, the chief executive officer owned 2,918,326 shares in the company, valued at approximately $146,120,582.82. This trade represents a 0.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G Leonard Baker, Jr. bought 100,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, March 17th. The stock was purchased at an average price of $33.14 per share, with a total value of $3,314,000.00. Following the purchase, the director directly owned 1,146,631 shares in the company, valued at approximately $37,999,351.34. This trade represents a 9.55% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have sold 86,198 shares of company stock valued at $3,887,769. Insiders own 20.70% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of Corcept Therapeutics by 2.5% in the first quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock valued at $160,329,000 after purchasing an additional 96,763 shares during the period. State Street Corp increased its holdings in Corcept Therapeutics by 0.5% during the 4th quarter. State Street Corp now owns 2,986,056 shares of the biotechnology company’s stock valued at $103,915,000 after acquiring an additional 15,656 shares in the last quarter. Geode Capital Management LLC increased its holdings in Corcept Therapeutics by 38.0% during the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after acquiring an additional 734,646 shares in the last quarter. First Trust Advisors LP increased its holdings in Corcept Therapeutics by 213.5% during the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after acquiring an additional 1,480,059 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Corcept Therapeutics by 34.1% during the 4th quarter. Morgan Stanley now owns 1,592,059 shares of the biotechnology company’s stock valued at $55,404,000 after acquiring an additional 405,081 shares in the last quarter. 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.