Corcept Therapeutics (NASDAQ:CORT) Issues Earnings Results

Corcept Therapeutics (NASDAQ:CORT) issued its quarterly earnings data on Wednesday. The biotechnology company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04, Briefing.com reports. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The company had revenue of $146.80 million during the quarter, compared to analysts’ expectations of $141.19 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. Corcept Therapeutics updated its FY 2024 guidance to EPS.

Corcept Therapeutics Trading Up 2.4 %

Shares of Corcept Therapeutics stock traded up $0.57 during trading hours on Thursday, hitting $24.45. 1,049,681 shares of the company were exchanged, compared to its average volume of 1,457,725. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $34.28. The business has a 50-day moving average of $23.89 and a 200-day moving average of $25.25. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 25.50 and a beta of 0.50.

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 27,068 shares of the company’s 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 completion of the sale, the insider now owns 74,455 shares in the company, valued at $1,933,596.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean Maduck sold 27,068 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.97, for a total value of $702,955.96. Following the completion of the transaction, the insider now owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The disclosure for this sale can be found here. Insiders sold 81,583 shares of company stock worth $2,070,596 over the last 90 days. 20.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial boosted their price objective on Corcept Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, April 23rd. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Corcept Therapeutics currently has an average rating of “Buy” and an average target price of $39.70.

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.