Analysts predict Corcept Therapeutics Incorporated (NASDAQ: CORT) to post quarterly sales of $ 85.83 million
Wall Street brokers expect Corcept Therapeutics Incorporated (NASDAQ: CORT) to report revenue of $ 85.83 million for the current quarter, according to Zacks investment research. Two analysts put Corcept Therapeutics in profit, with the lowest sales estimate at $ 85.00 million and the highest estimate at $ 86.65 million. Corcept Therapeutics recorded sales of $ 88.57 million in the same quarter last year, which would indicate a negative growth rate of 3.1% year-over-year. The company is expected to release its next quarterly results on Tuesday, August 3.
According to Zacks, analysts expect Corcept Therapeutics to report annual sales of $ 371.74 million for the current year, with estimates ranging from $ 366.48 million to $ 377.00 million. For the next fiscal year, analysts predict the company will post sales of $ 438.33 million, with estimates ranging from $ 435.85 million to $ 440.80 million. Zacks’ sales calculations are an average based on a survey of seller-side research companies that provide coverage for Corcept Therapeutics.
Corcept Therapeutics (NASDAQ: CORT) last released its quarterly earnings data on Thursday, May 6. The biotech company reported EPS of $ 0.18 for the quarter, missing analyst consensus estimates of $ 0.21 ($ 0.03). Corcept Therapeutics recorded a return on equity of 20.11% and a net margin of 29.23%. The company posted revenue of $ 79.44 million for the quarter, compared to $ 96.99 million according to analysts’ estimates. In the same quarter of the previous year, the company made a profit of $ 0.34 per share. The company’s revenue was down 14.8% year-on-year.
A number of research analysts have recently weighed on CORT stocks. The UBS Group reaffirmed a “positive” rating on the shares of Corcept Therapeutics in a research report on Tuesday 22 June. TheStreet downgraded Corcept Therapeutics’ shares from a “b” rating to a “c +” rating in a research report on Wednesday, June 2. Finally, HC Wainwright lowered its target price on Corcept Therapeutics shares from $ 32.00 to $ 29.00 and established a “buy” rating for the company in a research report released on Wednesday, June 23. One analyst rated the stock with a sell rating, another assigned a conservation rating, and two issued a buy rating for the stock. The stock currently has an average hold rating and a consensus price target of $ 23.33.
NASDAQ: CORT shares opened at $ 22.31 on Friday. The company has a market cap of $ 2.60 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 2.42 and a beta of 0.73. Corcept Therapeutics has a 12-month low of $ 12.20 and a 12-month high of $ 31.18. The fifty-day moving average for the stock is $ 21.94.
In other news, CFO Gary Charles Robb sold 10,000 shares of the company in a deal dated Friday, April 23. The shares were sold at an average price of $ 24.02 for a total trade of $ 240,200.00. Following the closing of the sale, the CFO now owns 75,638 shares of the company, valued at approximately $ 1,816,824.76. The transaction was disclosed in a file with the SEC, which can be accessed via this link. In addition, Director G Leonard Baker, Jr. bought 50,000 shares of the company in a transaction dated Friday, June 11. The shares were purchased at an average price of $ 21.53 per share, for a total value of $ 1,076,500.00. Disclosure of this purchase can be found here. In the past three months, insiders have sold 25,000 shares of the company valued at $ 582,350. Insiders own 16.50% of the shares of the company.
Hedge funds and other institutional investors recently bought and sold shares in the company. Norges Bank acquired a new stake in Corcept Therapeutics in the 4th quarter for a value of approximately $ 31,510,000. BlackRock Inc. increased its stake in Corcept Therapeutics by 4.0% in the 1st quarter. BlackRock Inc. now owns 16,171,231 shares of the biotech company valued at $ 384,714,000 after purchasing an additional 624,707 shares in the last quarter. Boston Trust Walden Corp increased its stake in Corcept Therapeutics by 88.0% in the 1st quarter. Boston Trust Walden Corp now owns 770,565 shares of the biotech company valued at $ 18,332,000 after purchasing an additional 360,721 shares in the last quarter. AJ Wealth Strategies LLC increased its stake in Corcept Therapeutics by 68.3% in the 1st quarter. AJ Wealth Strategies LLC now owns 666,682 shares of the biotech company valued at $ 15,860,000 after purchasing an additional 270,653 shares in the last quarter. Finally, FMR LLC increased its stake in Corcept Therapeutics by 36.2% in the 1st quarter. FMR LLC now owns 764,795 shares of the biotech company valued at $ 8,979,000 after purchasing an additional 203,200 shares in the last quarter. Institutional investors hold 69.06% of the shares of the company.
Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated discovers, develops and markets drugs for the treatment of serious metabolic, oncological and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medicine for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing’s syndrome, who have type 2 diabetes or have glucose intolerance, and who have failed surgery or are not candidates for surgery.
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