Corcept Therapeutics (NASDAQ:CORT) Posts Earnings Results, Beats Expectations By $0.04 EPS

Corcept Therapeutics (NASDAQ:CORT) posted its quarterly earnings data on Wednesday. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04, Briefing.com reports. 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 24.19%. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 earnings per share. Corcept Therapeutics updated its FY 2024 guidance to EPS.

Corcept Therapeutics Price Performance

CORT opened at $24.52 on Friday. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 23.13 and a beta of 0.50. The company’s 50 day simple moving average is $23.97 and its two-hundred day simple moving average is $25.23. Corcept Therapeutics has a 1-year low of $20.84 and a 1-year high of $34.28.

Insider Activity

In related news, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the transaction, the insider now owns 74,455 shares in the company, valued at $1,933,596.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the sale, the insider now directly owns 74,455 shares in the company, valued at $1,933,596.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the business’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 transaction, the chief accounting officer now owns 6,774 shares in the company, valued at $176,124. The disclosure for this sale can be found here. Insiders sold 81,583 shares of company stock worth $2,070,596 over the last ninety days. Corporate insiders own 20.50% of the company’s stock.

Analysts Set New Price Targets

CORT has been the topic of several research reports. HC Wainwright upped their target price on Corcept Therapeutics from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial raised their target price on Corcept Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics has an average rating of “Buy” and a consensus price target of $40.10.

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.