Q3 2024 EPS Estimates for Corcept Therapeutics Incorporated (NASDAQ:CORT) Boosted by Zacks Research

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Equities research analysts at Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for Corcept Therapeutics in a research report issued to clients and investors on Tuesday, August 13th. Zacks Research analyst K. Das now forecasts that the biotechnology company will earn $0.20 per share for the quarter, up from their prior estimate of $0.18. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $1.03 per share. Zacks Research also issued estimates for Corcept Therapeutics’ Q4 2024 earnings at $0.26 EPS, FY2024 earnings at $1.03 EPS, Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.29 EPS, Q3 2025 earnings at $0.35 EPS, FY2025 earnings at $1.33 EPS, Q2 2026 earnings at $0.52 EPS and FY2026 earnings at $2.11 EPS.

A number of other equities analysts also recently commented on the company. HC Wainwright upped their target price on Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Truist Financial reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Corcept Therapeutics in a research note on Monday, June 17th. Piper Sandler lifted their price objective on Corcept Therapeutics from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Finally, StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $46.50.

Corcept Therapeutics Stock Down 2.8 %

Shares of Corcept Therapeutics stock opened at $33.97 on Friday. The company has a market cap of $3.54 billion, a PE ratio of 32.05 and a beta of 0.44. The business has a 50 day moving average of $32.68 and a 200 day moving average of $27.69. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $39.75.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The firm had revenue of $163.80 million during the quarter, compared to analyst estimates of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share.

Hedge Funds Weigh In On Corcept Therapeutics

A number of hedge funds have recently made changes to their positions in CORT. Vanguard Group Inc. increased its holdings in shares of Corcept Therapeutics by 0.3% in the first quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock valued at $240,962,000 after purchasing an additional 28,250 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Corcept Therapeutics by 1.2% during the fourth quarter. Parallel Advisors LLC now owns 3,768,245 shares of the biotechnology company’s stock worth $122,393,000 after purchasing an additional 44,762 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Corcept Therapeutics by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company’s stock valued at $86,952,000 after acquiring an additional 108,658 shares during the period. Norden Group LLC purchased a new stake in Corcept Therapeutics in the 1st quarter valued at approximately $50,081,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Corcept Therapeutics by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 900,444 shares of the biotechnology company’s stock valued at $29,246,000 after purchasing an additional 39,111 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Activity at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $30.18, for a total value of $150,900.00. Following the transaction, the insider now directly owns 7,314 shares of the company’s stock, valued at $220,736.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $30.39, for a total transaction of $334,290.00. Following the transaction, the insider now owns 20,203 shares in the company, valued at $613,969.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $30.18, for a total value of $150,900.00. Following the transaction, the insider now directly owns 7,314 shares of the company’s stock, valued at approximately $220,736.52. The disclosure for this sale can be found here. Insiders have sold 35,550 shares of company stock valued at $1,178,759 in the last ninety days. Corporate insiders own 20.50% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.