Corcept Therapeutics (CORT) to Release Quarterly Earnings on Monday

Corcept Therapeutics (NASDAQ:CORT) is set to announce its earnings results after the market closes on Monday, July 29th. Analysts expect the company to announce earnings of $0.22 per share for the quarter. Corcept Therapeutics has set its FY 2024 guidance at EPS.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. The company had revenue of $146.80 million for the quarter, compared to analyst estimates of $141.19 million. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The firm’s revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share. On average, analysts expect Corcept Therapeutics to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Corcept Therapeutics Stock Up 0.5 %

Corcept Therapeutics stock traded up $0.17 during mid-day trading on Tuesday, hitting $34.74. The company had a trading volume of 32,894 shares, compared to its average volume of 1,310,838. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 32.61 and a beta of 0.44. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $35.22. The business has a fifty day moving average of $30.78 and a 200 day moving average of $26.25.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 50,000 shares of Corcept Therapeutics stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $28.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider now owns 85,222 shares in the company, valued at approximately $2,386,216. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Sean Maduck sold 50,000 shares of Corcept Therapeutics stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $28.00, for a total value of $1,400,000.00. Following the transaction, the insider now directly owns 85,222 shares of the company’s stock, valued at approximately $2,386,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Douglas Lyon sold 7,227 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $26.00, for a total value of $187,902.00. Following the transaction, the insider now directly owns 7,314 shares in the company, valued at $190,164. The disclosure for this sale can be found here. Insiders sold 93,457 shares of company stock worth $2,655,766 in the last 90 days. 20.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Corcept Therapeutics in a research note on Wednesday, May 29th. Truist Financial restated a “buy” rating and set a $65.00 target price on shares of Corcept Therapeutics in a research report on Monday, June 17th. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price target on shares of Corcept Therapeutics in a research note on Monday, July 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $45.10.

About Corcept Therapeutics

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.