HC Wainwright Analysts Reduce Earnings Estimates for Corcept Therapeutics Incorporated (NASDAQ:CORT)

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Equities researchers at HC Wainwright reduced their FY2025 earnings per share estimates for shares of Corcept Therapeutics in a note issued to investors on Thursday, May 2nd. HC Wainwright analyst S. Ramakanth now anticipates that the biotechnology company will earn $1.40 per share for the year, down from their prior forecast of $1.44. HC Wainwright currently has a “Buy” rating and a $40.00 price target on the stock. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $0.97 per share.

CORT has been the topic of a number of other research reports. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday. Truist Financial upped their target price on Corcept Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $40.10.

Corcept Therapeutics Price Performance

CORT opened at $24.52 on Monday. Corcept Therapeutics has a 1-year low of $20.84 and a 1-year high of $34.28. The stock’s 50 day simple moving average is $23.97 and its 200 day simple moving average is $25.18. The stock has a market cap of $2.55 billion, a P/E ratio of 23.13 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $146.80 million for the quarter, compared to analysts’ expectations of $141.19 million. Corcept Therapeutics had a return on equity of 24.19% and a net margin of 22.38%. The company’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS.

Institutional Trading of Corcept Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. FinTrust Capital Advisors LLC increased its holdings in shares of Corcept Therapeutics by 318.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,348 shares during the last quarter. Hussman Strategic Advisors Inc. increased its holdings in shares of Corcept Therapeutics by 60.0% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the biotechnology company’s stock worth $2,116,000 after buying an additional 31,500 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Corcept Therapeutics during the 1st quarter worth $706,000. BNP Paribas Financial Markets increased its holdings in shares of Corcept Therapeutics by 199.0% during the 1st quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock worth $5,330,000 after buying an additional 140,815 shares during the last quarter. Finally, Norden Group LLC acquired a new stake in shares of Corcept Therapeutics during the 1st quarter worth $2,943,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the transaction, the chief accounting officer now owns 6,774 shares of the company’s stock, valued at approximately $176,124. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the transaction, the insider now owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the transaction, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The disclosure for this sale can be found here. Insiders have sold a total of 81,583 shares of company stock valued at $2,070,596 in the last quarter. 20.50% of the stock is currently owned by company insiders.

Corcept Therapeutics Company Profile

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.