Q2 2024 EPS Estimates for Corcept Therapeutics Incorporated (NASDAQ:CORT) Increased by HC Wainwright

Corcept Therapeutics Incorporated (NASDAQ:CORT) – HC Wainwright boosted their Q2 2024 EPS estimates for shares of Corcept Therapeutics in a note issued to investors on Thursday, May 2nd. HC Wainwright analyst S. Ramakanth now expects that the biotechnology company will post earnings of $0.21 per share for the quarter, up from their prior forecast of $0.20. HC Wainwright has a “Buy” rating and a $40.00 price target on the stock. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $0.99 per share. HC Wainwright also issued estimates for Corcept Therapeutics’ Q3 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.95 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.36 EPS and Q4 2025 earnings at $0.41 EPS.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The firm had revenue of $146.80 million for the quarter, compared to the consensus estimate of $141.19 million. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 25.29%. The business’s revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share.

Several other equities research analysts have also recently commented on the company. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday. Truist Financial raised their price target on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a report on Thursday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $40.10.

Corcept Therapeutics Trading Down 2.2 %

Shares of CORT opened at $24.52 on Friday. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 23.13 and a beta of 0.50. The business’s fifty day simple moving average is $23.97 and its two-hundred day simple moving average is $25.23. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $34.28.

Insider Buying and Selling at Corcept Therapeutics

In other news, CAO Joseph Douglas Lyon sold 1,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the sale, the chief accounting officer now owns 6,774 shares of the company’s stock, valued at approximately $176,124. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Joseph Douglas Lyon sold 1,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.97, for a total value of $702,955.96. Following the completion of the transaction, the insider now directly owns 74,455 shares in the company, valued at $1,933,596.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,583 shares of company stock valued at $2,070,596. 20.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CORT. FinTrust Capital Advisors LLC boosted its position in shares of Corcept Therapeutics by 318.7% in the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,348 shares during the period. Hussman Strategic Advisors Inc. lifted its stake in shares of Corcept Therapeutics by 60.0% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the biotechnology company’s stock valued at $2,116,000 after buying an additional 31,500 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Corcept Therapeutics in the 1st quarter worth $706,000. BNP Paribas Financial Markets increased its stake in Corcept Therapeutics by 199.0% in the 1st quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock worth $5,330,000 after buying an additional 140,815 shares in the last quarter. Finally, Norden Group LLC bought a new stake in Corcept Therapeutics during the first quarter valued at about $2,943,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

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.