What is Zacks Research’s Estimate for CORT FY2024 Earnings?

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Equities research analysts at Zacks Research lifted their FY2024 EPS estimates for shares of Corcept Therapeutics in a report issued on Wednesday, November 20th. Zacks Research analyst K. Das now expects that the biotechnology company will post earnings per share of $1.26 for the year, up from their prior forecast of $1.03. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $1.35 per share. Zacks Research also issued estimates for Corcept Therapeutics’ Q1 2025 earnings at $0.29 EPS and Q2 2026 earnings at $0.53 EPS.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Corcept Therapeutics’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 EPS.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Piper Sandler lifted their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. Finally, Truist Financial lifted their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $65.25.

Corcept Therapeutics Stock Down 0.8 %

CORT stock opened at $58.58 on Monday. The stock has a market capitalization of $6.14 billion, a P/E ratio of 46.49 and a beta of 0.45. The company has a 50 day moving average price of $48.82 and a two-hundred day moving average price of $38.29. Corcept Therapeutics has a one year low of $20.84 and a one year high of $61.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph Douglas Lyon sold 1,411 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total transaction of $80,031.92. Following the completion of the transaction, the insider now owns 8,494 shares in the company, valued at $481,779.68. This represents a 14.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,611 shares of company stock worth $1,563,548. 20.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CORT. Oak Ridge Investments LLC bought a new stake in shares of Corcept Therapeutics during the 2nd quarter valued at about $984,000. M&G PLC bought a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at about $11,173,000. Milestone Asset Management LLC grew its position in shares of Corcept Therapeutics by 47.4% during the 2nd quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock valued at $1,676,000 after buying an additional 16,593 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Corcept Therapeutics by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock valued at $240,962,000 after buying an additional 28,250 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at about $1,784,000. Institutional investors own 93.61% of the company’s stock.

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.