FY2025 Earnings Forecast for Corcept Therapeutics Incorporated Issued By HC Wainwright (NASDAQ:CORT)

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Equities researchers at HC Wainwright reduced their FY2025 earnings per share (EPS) estimates for Corcept Therapeutics in a research note issued on Thursday, May 2nd. HC Wainwright analyst S. Ramakanth now anticipates that the biotechnology company will post earnings of $1.40 per share for the year, down from their prior estimate of $1.44. HC Wainwright has a “Buy” rating and a $40.00 price objective on the stock. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $0.97 per share.

CORT has been the subject of several other reports. Truist Financial lifted their target price on Corcept Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $40.10.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock opened at $24.48 on Monday. The firm has a 50 day simple moving average of $23.99 and a 200 day simple moving average of $25.13. Corcept Therapeutics has a fifty-two week low of $20.84 and a fifty-two week high of $34.28. The firm has a market cap of $2.55 billion, a P/E ratio of 23.09 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly 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 business 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 firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds have recently modified their holdings of CORT. Norden Group LLC bought a new stake in Corcept Therapeutics during the 1st quarter worth approximately $50,081,000. Norges Bank bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth $24,603,000. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $15,164,000. FMR LLC raised its holdings in shares of Corcept Therapeutics by 102.4% during the third quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock worth $18,634,000 after acquiring an additional 346,000 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Corcept Therapeutics by 2,922.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 324,271 shares of the biotechnology company’s stock worth $8,168,000 after purchasing an additional 313,543 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In other news, CAO Joseph Douglas Lyon sold 1,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was 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 directly owns 6,774 shares in the company, valued at approximately $176,124. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $23.59, for a total transaction of $51,898.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,413 shares of company stock valued at $2,352,176. 20.50% of the stock is currently owned by company 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.