Analysts Issue Forecasts for CORT FY2029 Earnings

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Stock analysts at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for shares of Corcept Therapeutics in a research note issued to investors on Tuesday, February 11th. HC Wainwright analyst S. Ramakanth expects that the biotechnology company will post earnings per share of $8.84 for the year. HC Wainwright has a “Buy” rating and a $80.00 price objective on the stock. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $1.36 per share.

Several other research analysts have also issued reports on CORT. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $88.25.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $73.61 on Wednesday. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 58.42 and a beta of 0.58. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $73.75. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $57.45 and a 200 day moving average price of $48.88.

Institutional Trading of Corcept Therapeutics

Several hedge funds have recently bought and sold shares of CORT. Kestra Investment Management LLC bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics in the 3rd quarter worth $25,000. Canada Pension Plan Investment Board acquired a new position in Corcept Therapeutics in the 4th quarter worth $40,000. National Bank of Canada FI bought a new position in Corcept Therapeutics during the 4th quarter worth about $42,000. Finally, USA Financial Formulas acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $54,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total value of $130,812.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Douglas Lyon sold 1,411 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $56.72, for a total value of $80,031.92. Following the sale, the insider now directly owns 8,494 shares in the company, valued at approximately $481,779.68. This represents a 14.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,011 shares of company stock valued at $1,479,608 in the last 90 days. 20.50% of the stock is owned by insiders.

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.