Corcept Therapeutics (NASDAQ:CORT) Posts Earnings Results, Misses Estimates By $0.07 EPS

Corcept Therapeutics (NASDAQ:CORTGet Free Report) released its quarterly earnings results on Tuesday. The biotechnology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07), FiscalAI reports. The company had revenue of $202.13 million for the quarter, compared to analysts’ expectations of $254.94 million. Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT traded up $1.14 on Tuesday, reaching $36.48. 1,966,954 shares of the company were exchanged, compared to its average volume of 2,372,947. The company has a 50-day moving average of $48.10 and a 200-day moving average of $66.70. The company has a current ratio of 3.14, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 41.46 and a beta of 0.25. Corcept Therapeutics has a 1-year low of $28.66 and a 1-year high of $117.33.

Insider Activity at Corcept Therapeutics

In related news, insider William Guyer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $40.87, for a total transaction of $817,400.00. Following the sale, the insider owned 1,235 shares of the company’s stock, valued at approximately $50,474.45. The trade was a 94.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $79.53, for a total transaction of $397,650.00. Following the completion of the transaction, the insider directly owned 10,277 shares of the company’s stock, valued at approximately $817,329.81. This trade represents a 32.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 125,000 shares of company stock worth $8,301,450 in the last ninety days. Corporate insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds have recently bought and sold shares of CORT. Advisory Services Network LLC purchased a new stake in shares of Corcept Therapeutics in the third quarter valued at $25,000. Larson Financial Group LLC lifted its holdings in Corcept Therapeutics by 2,326.3% in the 3rd quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 442 shares in the last quarter. Gould Capital LLC boosted its stake in shares of Corcept Therapeutics by 50.0% during the 3rd quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 200 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Corcept Therapeutics by 128.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 770 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 433 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Corcept Therapeutics during the third quarter worth about $69,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CORT. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 target price on the stock. in a report on Wednesday, December 31st. Canaccord Genuity Group increased their price target on Corcept Therapeutics from $99.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. HC Wainwright dropped their price objective on shares of Corcept Therapeutics from $105.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday. Truist Financial set a $50.00 price objective on shares of Corcept Therapeutics in a research report on Wednesday, December 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics presently has an average rating of “Hold” and an average price target of $77.17.

View Our Latest Stock Report on CORT

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About Corcept Therapeutics

(Get Free Report)

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

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Earnings History for Corcept Therapeutics (NASDAQ:CORT)

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