Corcept Therapeutics (NASDAQ:CORT) Posts Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Corcept Therapeutics (NASDAQ:CORT) released its quarterly earnings data on Tuesday. The biotechnology company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22, FiscalAI reports. The firm had revenue of $340.47 million for the quarter, compared to analysts’ expectations of $336.37 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.

Corcept Therapeutics Price Performance

Shares of CORT traded up $1.47 during mid-day trading on Tuesday, reaching $81.93. 1,504,057 shares of the company’s stock were exchanged, compared to its average volume of 1,469,922. The stock has a market capitalization of $8.86 billion, a PE ratio of 195.08 and a beta of 0.40. The business’s fifty day simple moving average is $111.14 and its 200-day simple moving average is $74.84. Corcept Therapeutics has a 52-week low of $28.66 and a 52-week high of $126.38.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Joseph Lyon sold 9,190 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $116.13, for a total value of $1,067,234.70. Following the completion of the transaction, the insider owned 5,683 shares in the company, valued at $659,966.79. This trade represents a 61.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James N. Wilson sold 10,000 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $114.81, for a total value of $1,148,100.00. Following the sale, the director owned 1,054,543 shares in the company, valued at approximately $121,072,081.83. The trade was a 0.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 349,203 shares of company stock worth $40,686,076 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CORT has been the topic of several recent research reports. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a research note on Monday, July 27th. Zacks Research lowered Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Weiss Ratings upgraded Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Piper Sandler reiterated an “overweight” rating and issued a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Finally, Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $138.17.

About Corcept Therapeutics

Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.