Corcept Therapeutics (NASDAQ:CORT) issued its quarterly earnings results on Thursday. The biotechnology company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03, Fidelity Earnings reports. The firm had revenue of $81.51 million for the quarter, compared to analyst estimates of $77.86 million. Corcept Therapeutics had a net margin of 29.16% and a return on equity of 27.97%. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS.
Shares of CORT stock traded up $0.41 on Friday, hitting $15.01. 1,863,000 shares of the company’s stock traded hands, compared to its average volume of 928,963. The company’s fifty day simple moving average is $14.25 and its 200 day simple moving average is $12.18. Corcept Therapeutics has a one year low of $9.14 and a one year high of $19.48. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 25.02 and a beta of 1.35.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Corcept Therapeutics from a “sell” rating to a “hold” rating and set a $12.00 price target on the stock in a report on Wednesday, July 31st. TheStreet raised shares of Corcept Therapeutics from a “c+” rating to a “b” rating in a report on Friday, August 16th. HC Wainwright assumed coverage on shares of Corcept Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of Corcept Therapeutics in a report on Tuesday, September 24th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, BidaskClub raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $15.00.
Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric 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 mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.
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