Corcept Therapeutics (NASDAQ:CORT) Releases Earnings Results, Beats Estimates By $0.03 EPS

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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.

About Corcept Therapeutics

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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Earnings History for Corcept Therapeutics (NASDAQ:CORT)

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