Corcept Therapeutics Incorporated (NASDAQ:CORT) Expected to Report Quarterly Sales of $99.13 Million

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The brokerages predict that Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) will announce sales of $99.13 million for the current quarter, according to Zacks. Two analysts have made earnings estimates for Corcept Therapeutics. The lowest sales estimate is $96.20 million and the highest is $102.05 million. Corcept Therapeutics reported sales of $79.44 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 24.8%. The company is expected to release its next quarterly earnings report on Monday, January 1.

On average, analysts expect Corcept Therapeutics to report revenue of $415.05 million for the current fiscal year, with estimates ranging from $408.00 to $421.76 million. For the next fiscal year, analysts expect the company to post sales of $464.29 million, with estimates ranging from $443.67 million to $483.40 million. Zacks Investment Research sales averages are an average average based on a survey of analysts who cover Corcept Therapeutics.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last reported results on Tuesday, February 15. The biotech company reported earnings per share (EPS) of $0.26 for the quarter, beating the consensus estimate of $0.22 by $0.04. Corcept Therapeutics posted a net margin of 30.74% and a return on equity of 23.08%. The company posted revenue of $98.82 million in the quarter, compared to analyst estimates of $101.17 million. In the same period a year earlier, the company posted earnings per share of $0.20.

CORT has been the subject of several analyst reports. Truist Financial launched coverage on Corcept Therapeutics in a research report on Friday, January 28. They set a “buy” rating and a target price of $30.00 on the stock. HC Wainwright reaffirmed a “buy” rating and set a price target of $29.00 on shares of Corcept Therapeutics in a Wednesday, February 16 research report. Canaccord Genuity Group initiated coverage of Corcept Therapeutics shares in a Wednesday, February 2, report. They issued a “buy” rating and a target price of $30.00 for the company. Finally, StockNews.com launched coverage on Corcept Therapeutics shares in a Thursday, March 31 report. They have set a “Strong Buy” rating on the stock. One financial analyst gave the stock a sell rating, four gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat.com, the stock has an average buy rating and an average target price of $27.25.

CORT shares opened at $21.25 on Friday. The company has a market capitalization of $2.45 billion, a price/earnings ratio of 23.88, a PEG ratio of 2.32 and a beta of 0.54. Corcept Therapeutics has a 1 year minimum of $15.82 and a 1 year maximum of $25.68. The company has a fifty-day moving average price of $23.71 and a 200-day moving average price of $21.23.

Separately, insider Gary Charles Robb sold 7,512 shares of the company in a trade that took place on Thursday, March 17. The stock was sold at an average price of $24.68, for a total value of $185,396.16. The transaction was disclosed in a legal filing with the SEC, which is available via this link. 16.50% of the shares are currently held by insiders of the company.

Hedge funds and other institutional investors have recently changed their positions in the company. Guggenheim Capital LLC increased its stake in Corcept Therapeutics by 182.5% in the third quarter. Guggenheim Capital LLC now owns 63,980 shares of the biotech company worth $1,259,000 after purchasing an additional 41,331 shares last quarter. Jefferies Group LLC increased its equity stake in Corcept Therapeutics by 23.8% in the third quarter. Jefferies Group LLC now owns 59,800 shares of the biotech company worth $1,177,000 after buying an additional 11,500 shares in the last quarter. Victory Capital Management Inc. increased its position in Corcept Therapeutics shares by 144.7% in the third quarter. Victory Capital Management Inc. now owns 130,893 shares of the biotech company worth $2,576,000 after buying an additional 77,404 shares last quarter. Meritage Investment Management purchased a new position in Corcept Therapeutics during the fourth quarter worth approximately $208,000. Finally, Jupiter Asset Management Ltd. increased its stake in Corcept Therapeutics by 100.8% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 241,939 shares of the biotech company valued at $4,761,000 after purchasing an additional 121,452 shares last quarter. Institutional investors hold 69.10% of the company’s shares.

About Corcept Therapeutics (Get an evaluation)

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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Earnings history and estimates for Corcept Therapeutics (NASDAQ:CORT)



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