Corcept Therapeutics (CORT) Expected to Announce Earnings of $0.24 Per Share

Equities analysts forecast that Corcept Therapeutics (NASDAQ:CORT) will post earnings of $0.24 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Corcept Therapeutics’ earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.23. Corcept Therapeutics posted earnings per share of $0.10 during the same quarter last year, which indicates a positive year over year growth rate of 140%. The firm is expected to announce its next earnings results on Tuesday, August 7th.

On average, analysts expect that Corcept Therapeutics will report full-year earnings of $1.07 per share for the current year, with EPS estimates ranging from $1.05 to $1.09. For the next financial year, analysts anticipate that the firm will post earnings of $1.56 per share, with EPS estimates ranging from $1.15 to $1.83. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Corcept Therapeutics.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Tuesday, May 8th. The biotechnology company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $57.66 million during the quarter, compared to analyst estimates of $58.18 million. Corcept Therapeutics had a return on equity of 46.78% and a net margin of 75.05%. Corcept Therapeutics’s quarterly revenue was up 108.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS.

CORT has been the subject of a number of analyst reports. Piper Jaffray Companies set a $30.00 price target on Corcept Therapeutics and gave the company a “buy” rating in a research report on Monday, February 5th. Seaport Global Securities initiated coverage on Corcept Therapeutics in a research report on Friday, April 13th. They issued a “buy” rating and a $32.00 price target for the company. Zacks Investment Research raised Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Friday, April 27th. BidaskClub lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Finally, Stifel Nicolaus lowered their price target on Corcept Therapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Eight research analysts have rated the stock with a buy rating, Corcept Therapeutics currently has an average rating of “Buy” and an average target price of $25.17.

Corcept Therapeutics traded up $0.11, reaching $18.70, on Friday, according to Marketbeat.com. The company had a trading volume of 628,302 shares, compared to its average volume of 1,234,833. The firm has a market capitalization of $2.14 billion, a P/E ratio of 42.50 and a beta of 1.92. Corcept Therapeutics has a 52-week low of $10.40 and a 52-week high of $25.96.

In other Corcept Therapeutics news, Director Renee D. Gala acquired 10,000 shares of Corcept Therapeutics stock in a transaction on Wednesday, March 7th. The stock was purchased at an average price of $15.51 per share, for a total transaction of $155,100.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $15,510. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director G Leonard Baker, Jr. sold 30,000 shares of the company’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $16.01, for a total value of $480,300.00. The disclosure for this sale can be found here. Insiders sold a total of 54,000 shares of company stock valued at $876,860 in the last 90 days. Corporate insiders own 15.00% of the company’s stock.

A number of large investors have recently made changes to their positions in CORT. We Are One Seven LLC bought a new position in Corcept Therapeutics in the 4th quarter valued at $106,000. Tyers Asset Management LLC bought a new position in shares of Corcept Therapeutics during the 1st quarter worth $136,000. Asset Management One Co. Ltd. bought a new position in shares of Corcept Therapeutics during the 1st quarter worth $150,000. Riverhead Capital Management LLC bought a new position in shares of Corcept Therapeutics during the 1st quarter worth $155,000. Finally, Flinton Capital Management LLC bought a new position in shares of Corcept Therapeutics during the 1st quarter worth $173,000. Hedge funds and other institutional investors own 76.46% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated, a pharmaceutical company, 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, as well as develops CLIA-validated assay to measure FKBP5 gene expression.

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