HC Wainwright Issues Pessimistic Estimate for CORT Earnings

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Analysts at HC Wainwright lowered their Q1 2027 earnings per share (EPS) estimates for Corcept Therapeutics in a research report issued to clients and investors on Wednesday, November 4th. HC Wainwright analyst S. Ramakanth now forecasts that the biotechnology company will post earnings per share of $0.60 for the quarter, down from their previous forecast of $0.74. HC Wainwright has a “Buy” rating and a $165.00 price objective on the stock. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $1.83 per share.

A number of other analysts have also issued reports on CORT. Weiss Ratings upgraded shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Canaccord Genuity Group increased their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a research report on Monday, July 27th. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, Zacks Research lowered Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.50.

Corcept Therapeutics Stock Performance

CORT stock opened at $79.22 on Thursday. The firm has a market cap of $8.56 billion, a P/E ratio of 64.51 and a beta of 0.54. Corcept Therapeutics has a 1 year low of $28.66 and a 1 year high of $126.38. The stock has a 50-day simple moving average of $109.43 and a 200-day simple moving average of $75.28.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Tuesday, November 3rd. The biotechnology company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.17. Corcept Therapeutics had a return on equity of 24.00% and a net margin of 16.53%. The company had revenue of $340.47 million for the quarter, compared to analysts’ expectations of $339.12 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 64.0% on a year-over-year basis.

Insider Buying and Selling at Corcept Therapeutics

In related news, insider Roberto Vieira sold 8,333 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $80.89, for a total transaction of $674,056.37. Following the sale, the insider owned 3,946 shares in the company, valued at $319,191.94. This represents a 67.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Lyon sold 9,190 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $116.13, for a total transaction of $1,067,234.70. Following the sale, the insider owned 5,683 shares in the company, valued at approximately $659,966.79. This trade represents a 61.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 382,536 shares of company stock worth $43,406,554 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Corcept Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Corcept Therapeutics during the 2nd quarter valued at approximately $1,080,964,000. Parallel Advisors LLC increased its position in Corcept Therapeutics by 2.5% in the first quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after buying an additional 96,763 shares during the period. First Trust Advisors LP lifted its stake in Corcept Therapeutics by 213.5% in the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after buying an additional 1,480,059 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Corcept Therapeutics in the second quarter valued at $49,185,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Corcept Therapeutics by 2.5% during the first quarter. Principal Financial Group Inc. now owns 455,248 shares of the biotechnology company’s stock valued at $18,351,000 after acquiring an additional 11,156 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics News Roundup

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Q3 revenue rose 64% year over year to $340.5 million, topping the $336.4 million consensus estimate. Earnings of $1.01 per share also beat the $0.79 estimate. Stronger Korlym sales and growing Lifyorli uptake helped drive the results. Article: CORT’s Q3 Earnings Beat
• Positive Sentiment: Piper Sandler reaffirmed its “overweight” rating and raised its price target to $173 from $165, signaling confidence in the company’s prospects. Article: Piper Sandler stock recommendations
• Neutral Sentiment: Corcept is awaiting a December 17 FDA decision on relacorilant and has projected $3 billion to $5 billion in Cushing’s syndrome revenue by 2030. The decision and longer-term sales target could be meaningful catalysts, but depend on regulatory and commercial success. Article: Corcept’s relacorilant decision and revenue target
• Negative Sentiment: Despite the earnings and revenue beats, shares sold off as investors reacted to company guidance, which appeared to disappoint or fall short of expectations. That forward-looking concern outweighed the strong quarterly results. Article: Corcept falls on guidance despite earnings beat

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.