Corcept Therapeutics (NASDAQ:CORT) issued its quarterly earnings data on Thursday. The biotechnology company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03, Fidelity Earnings reports. Corcept Therapeutics had a net margin of 29.16% and a return on equity of 27.97%. The business had revenue of $81.51 million during the quarter, compared to analysts’ expectations of $77.86 million. During the same period last year, the company posted $0.22 EPS. The company’s revenue was up 26.5% on a year-over-year basis.
CORT stock traded up $0.41 during midday trading on Friday, hitting $15.01. The stock had a trading volume of 1,863,000 shares, compared to its average volume of 928,963. The firm has a market cap of $1.63 billion, a PE ratio of 25.02 and a beta of 1.35. The company’s 50-day moving average price is $14.25 and its 200 day moving average price is $12.18. Corcept Therapeutics has a 12-month low of $9.14 and a 12-month high of $19.48.
A number of brokerages have recently weighed in on CORT. Jefferies Financial Group began coverage on shares of Corcept Therapeutics in a research note on Tuesday, September 24th. They set a “buy” rating and a $20.00 price objective for the company. HC Wainwright began coverage on shares of Corcept Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. ValuEngine cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, TheStreet raised shares of Corcept Therapeutics from a “c+” rating to a “b” rating in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $15.00.
Corcept Therapeutics Incorporated 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.
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