Brokerages expect Corcept Therapeutics Incorporated (NASDAQ:CORT) to post $66.80 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Corcept Therapeutics’ earnings. Corcept Therapeutics reported sales of $53.28 million during the same quarter last year, which would suggest a positive year over year growth rate of 25.4%. The business is expected to announce its next quarterly earnings report on Monday, February 25th.
According to Zacks, analysts expect that Corcept Therapeutics will report full-year sales of $251.22 million for the current financial year. For the next year, analysts expect that the company will post sales of $295.59 million, with estimates ranging from $288.90 million to $302.28 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Corcept Therapeutics.
Get Corcept Therapeutics alerts:Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, February 25th. The biotechnology company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.03. Corcept Therapeutics had a net margin of 63.79% and a return on equity of 32.96%. The company had revenue of $66.80 million during the quarter, compared to the consensus estimate of $70.43 million. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 25.3% on a year-over-year basis.
Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Corcept Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $17.00 to $29.00 in a research note on Wednesday, December 12th. ValuEngine upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, December 11th. Zacks Investment Research upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Thursday, January 17th. Finally, BidaskClub upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.00.
Shares of CORT opened at $12.81 on Friday. Corcept Therapeutics has a fifty-two week low of $9.14 and a fifty-two week high of $20.00. The stock has a market cap of $1.48 billion, a PE ratio of 21.35 and a beta of 1.19.
In related news, CFO Gary Charles Robb sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $19.01, for a total value of $475,250.00. Following the completion of the sale, the chief financial officer now owns 21,858 shares in the company, valued at $415,520.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joseph K. Belanoff sold 217,115 shares of the firm’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $19.01, for a total transaction of $4,127,356.15. Following the completion of the sale, the chief executive officer now owns 2,381,310 shares of the company’s stock, valued at approximately $45,268,703.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 302,115 shares of company stock valued at $5,743,206. 15.00% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in CORT. Financial Gravity Companies Inc. acquired a new stake in Corcept Therapeutics in the fourth quarter valued at about $31,000. Private Capital Group LLC lifted its position in Corcept Therapeutics by 291.7% in the fourth quarter. Private Capital Group LLC now owns 2,836 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 2,112 shares during the period. Oregon Public Employees Retirement Fund acquired a new stake in Corcept Therapeutics in the fourth quarter valued at about $40,000. Bremer Trust National Association acquired a new stake in Corcept Therapeutics in the fourth quarter valued at about $54,000. Finally, Bank of Montreal Can lifted its position in Corcept Therapeutics by 33.1% in the fourth quarter. Bank of Montreal Can now owns 4,831 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 1,202 shares during the period. Hedge funds and other institutional investors own 76.39% of the company’s stock.
About Corcept Therapeutics
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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