Brokerages Expect Corcept Therapeutics Incorporated (NASDAQ:CORT) Will Announce Quarterly Sales of $89.03 Million

Analysts predict that Corcept Therapeutics Incorporated (NASDAQ:CORT) will report $89.03 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Corcept Therapeutics’ earnings, with the lowest sales estimate coming in at $88.49 million and the highest estimate coming in at $89.60 million. Corcept Therapeutics reported sales of $66.83 million during the same quarter last year, which indicates a positive year over year growth rate of 33.2%. The firm is expected to announce its next earnings results on Monday, February 24th.

On average, analysts expect that Corcept Therapeutics will report full year sales of $307.62 million for the current fiscal year, with estimates ranging from $307.08 million to $308.20 million. For the next year, analysts anticipate that the business will report sales of $354.11 million, with estimates ranging from $342.09 million to $366.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Corcept Therapeutics.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. Corcept Therapeutics had a net margin of 30.41% and a return on equity of 29.08%. The business had revenue of $81.51 million during the quarter, compared to analysts’ expectations of $77.86 million. During the same period last year, the company posted $0.22 earnings per share. The business’s quarterly revenue was up 26.5% on a year-over-year basis.

Several analysts have recently commented on the company. Jefferies Financial Group initiated coverage on Corcept Therapeutics in a research note on Tuesday, September 24th. They issued a “buy” rating and a $20.00 target price for the company. ValuEngine downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 14th. HC Wainwright assumed coverage on Corcept Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, TheStreet raised Corcept Therapeutics from a “c+” rating to a “b” rating in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $15.00.

Shares of NASDAQ CORT traded down $0.50 during trading on Friday, hitting $13.10. 34,547 shares of the company traded hands, compared to its average volume of 1,397,071. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 21.78 and a beta of 1.32. The business’s fifty day moving average is $14.41 and its 200 day moving average is $12.50. Corcept Therapeutics has a fifty-two week low of $9.14 and a fifty-two week high of $19.48.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ingalls & Snyder LLC grew its holdings in shares of Corcept Therapeutics by 2.2% during the third quarter. Ingalls & Snyder LLC now owns 8,712,176 shares of the biotechnology company’s stock valued at $123,147,000 after buying an additional 190,377 shares during the last quarter. Renaissance Technologies LLC lifted its position in Corcept Therapeutics by 10.5% in the 2nd quarter. Renaissance Technologies LLC now owns 5,590,509 shares of the biotechnology company’s stock valued at $62,334,000 after acquiring an additional 532,700 shares in the last quarter. Morgan Stanley boosted its stake in Corcept Therapeutics by 54.8% during the 2nd quarter. Morgan Stanley now owns 1,564,554 shares of the biotechnology company’s stock valued at $17,444,000 after purchasing an additional 553,851 shares during the last quarter. Northern Trust Corp boosted its stake in Corcept Therapeutics by 0.8% during the 2nd quarter. Northern Trust Corp now owns 1,291,993 shares of the biotechnology company’s stock valued at $14,406,000 after purchasing an additional 10,825 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Corcept Therapeutics by 49,048.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,277,851 shares of the biotechnology company’s stock valued at $18,062,000 after purchasing an additional 1,275,251 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

About Corcept Therapeutics

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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Earnings History and Estimates for Corcept Therapeutics (NASDAQ:CORT)

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