Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) – Investment analysts at Jefferies Financial Group released their second quarter 2022 earnings per share estimates for Corcept Therapeutics shares in a research report released Wednesday, July 27. Jefferies Financial Group analyst D. Ding expects the biotech company to post earnings of $0.34 per share for the quarter. Jefferies Financial Group has a “Buy” rating and a price target of $35.00 on the stock. Corcept Therapeutics’ current full-year earnings consensus estimate is $0.87 per share. Jefferies Financial Group also released estimates for Corcept Therapeutics Q3 2022 earnings at $0.39 EPS, Q4 2022 earnings at $0.43 EPS, Q1 2023 earnings at $0.36 EPS, Q2 2023 earnings at $0.39 EPS, Q3 2023 earnings at $0.42 EPS, Q4 2023 earnings at $0.44 EPS, FY 2023 earnings at $1.61 EPS and fiscal 2024 at $1.84 EPS.
Corcept Therapeutics (NASDAQ:CORT – Get Rating) last released its quarterly results on Thursday, May 5. The biotech company reported EPS of $0.20 for the quarter, missing analyst consensus estimates of $0.23 per ($0.03). The company posted revenue of $93.70 million in the quarter, compared to $103.23 million expected by analysts. Corcept Therapeutics had a return on equity of 24.23% and a net margin of 29.42%. The company’s revenue for the quarter increased 18.0% year over year. In the same period a year earlier, the company posted earnings per share of $0.18.
Separately, StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong buy” rating in a report released Thursday. Four investment analysts gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $31.00.
Corcept Therapeutics Price Performance
CORT shares opened at $28.66 on Friday. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 31.49, a growth price-to-earnings ratio of 2.75 and a beta of 0.43. Corcept Therapeutics has a 1 year minimum of $15.82 and a 1 year maximum of $29.93. The company’s 50-day simple moving average is $23.92 and its 200-day simple moving average is $22.45.
Hedge funds weigh in on Corcept Therapeutics
Hedge funds have recently been buying and selling shares of the company. Financial Management Professionals Inc. bought a new position in Corcept Therapeutics in Q2 worth $47,000. Captrust Financial Advisors increased its position in Corcept Therapeutics by 87.8% in Q1. Captrust Financial Advisors now owns 6,805 shares of the biotech company valued at $153,000 after acquiring 3,181 additional shares in the last quarter. Point72 Hong Kong Ltd increased its position in Corcept Therapeutics by 283.1% in the 4th quarter. Point72 Hong Kong Ltd now owns 7,707 shares of the biotech company valued at $153,000 after acquiring 5,695 additional shares in the last quarter. Camden Capital LLC bought a new stock position in Corcept Therapeutics during Q1 worth $210,000. Finally, Cim LLC purchased a new stock position in Corcept Therapeutics during Q1 worth $234,000. Institutional investors hold 80.03% of the company’s shares.
Insider Trading at Corcept Therapeutics
In other news, insider Gary Charles Robb sold 6,127 shares of the company in a trade that took place on Thursday, May 19. The stock was sold at an average price of $19.57, for a total transaction of $119,905.39. Following the transaction, the insider now owns 36,446 shares of the company, valued at approximately $713,248.22. The transaction was disclosed in a document filed with the SEC, accessible via the SEC’s website. Separately, CEO Joseph K. Belanoff sold 279,908 shares of the company in a trade that took place on Wednesday, July 6. The stock was sold at an average price of $26.27, for a total transaction of $7,353,183.16. As a result of the transaction, the CEO now owns 2,538,218 shares of the company, valued at approximately $66,678,986.86. The transaction was disclosed in a document filed with the SEC, accessible via the SEC’s website. Additionally, insider Gary Charles Robb sold 6,127 shares of the company in a trade that took place on Thursday, May 19. The shares were sold at an average price of $19.57, for a total value of $119,905.39. Following the transaction, the insider now directly owns 36,446 shares of the company, valued at approximately $713,248.22. The disclosure of this sale can be found here. Insiders sold 384,780 shares of the company valued at $9,889,303 in the past ninety days. Company insiders own 16.50% of the company’s shares.
About Corcept Therapeutics
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Corcept Therapeutics Incorporated discovers, develops and markets drugs for the treatment of serious metabolic, oncological and neuropsychiatric 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 or glucose intolerance, and who have failed surgery or are not candidates for surgery.
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