Corcept Therapeutics (NASDAQ:CORT) Issues Quarterly Earnings Results

Corcept Therapeutics (NASDAQ:CORT) announced its quarterly earnings results on Tuesday. The biotechnology company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02), Zacks reports. The firm had revenue of $207.64 million for the quarter, compared to analysts’ expectations of $223.78 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS. Corcept Therapeutics updated its FY 2025 guidance to EPS.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $76.65 on Thursday. The firm has a market cap of $8.08 billion, a P/E ratio of 67.83 and a beta of 0.43. Corcept Therapeutics has a fifty-two week low of $49.00 and a fifty-two week high of $117.33. The firm has a 50-day simple moving average of $76.68 and a two-hundred day simple moving average of $73.40.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $87.54, for a total transaction of $192,588.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Douglas Lyon sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $73.65, for a total transaction of $368,250.00. Following the sale, the insider owned 10,277 shares of the company’s stock, valued at approximately $756,901.05. This represents a 32.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 276,607 shares of company stock worth $21,173,600 in the last 90 days. Insiders own 20.80% of the company’s stock.

Institutional Trading of Corcept Therapeutics

A number of institutional investors have recently made changes to their positions in CORT. Royal Bank of Canada boosted its holdings in shares of Corcept Therapeutics by 18.9% during the 1st quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock valued at $1,757,000 after acquiring an additional 2,444 shares during the last quarter. Amundi purchased a new stake in shares of Corcept Therapeutics during the 1st quarter valued at about $450,000. NewEdge Advisors LLC purchased a new stake in shares of Corcept Therapeutics during the 1st quarter valued at about $518,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 273.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company’s stock valued at $106,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Corcept Therapeutics by 795.3% during the 2nd quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company’s stock valued at $3,391,000 after acquiring an additional 41,040 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CORT shares. Piper Sandler dropped their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, August 1st. HC Wainwright restated a “buy” rating and issued a $145.00 price objective on shares of Corcept Therapeutics in a report on Monday, October 20th. Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Corcept Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $135.25.

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.