What is HC Wainwright’s Forecast for CORT FY2024 Earnings?

Corcept Therapeutics Incorporated (NASDAQ:CORT) – HC Wainwright increased their FY2024 EPS estimates for shares of Corcept Therapeutics in a report released on Thursday, October 31st. HC Wainwright analyst S. Ramakanth now forecasts that the biotechnology company will post earnings per share of $1.44 for the year, up from their previous forecast of $1.12. HC Wainwright has a “Buy” rating and a $80.00 price objective on the stock. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $1.19 per share. HC Wainwright also issued estimates for Corcept Therapeutics’ Q4 2024 earnings at $0.44 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.46 EPS and FY2025 earnings at $1.74 EPS.

A number of other research analysts also recently issued reports on CORT. StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Truist Financial increased their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $65.25.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $47.62 on Monday. The business has a 50-day simple moving average of $42.40 and a 200-day simple moving average of $34.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.48 and a current ratio of 3.70. Corcept Therapeutics has a one year low of $20.84 and a one year high of $50.07. The company has a market cap of $4.99 billion, a PE ratio of 37.79 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. During the same period in the previous year, the firm posted $0.28 EPS. Corcept Therapeutics’s revenue for the quarter was up 47.7% on a year-over-year basis.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following the transaction, the insider now owns 23,190 shares of the company’s stock, valued at approximately $828,114.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the transaction, the insider now directly owns 6,039 shares of the company’s stock, valued at $213,176.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary Charles Robb sold 3,101 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following the sale, the insider now owns 23,190 shares of the company’s stock, valued at approximately $828,114.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,101 shares of company stock valued at $972,817 over the last ninety days. Insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its holdings in shares of Corcept Therapeutics by 199.0% during the first 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. Janney Montgomery Scott LLC acquired a new position in shares of Corcept Therapeutics in the first quarter valued at approximately $706,000. FinTrust Capital Advisors LLC increased its holdings in shares of Corcept Therapeutics by 318.7% in the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 1,348 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of Corcept Therapeutics by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 79,390 shares of the biotechnology company’s stock worth $2,000,000 after purchasing an additional 1,435 shares during the last quarter. Finally, Duality Advisers LP lifted its holdings in shares of Corcept Therapeutics by 653.1% during the first quarter. Duality Advisers LP now owns 89,188 shares of the biotechnology company’s stock worth $2,247,000 after purchasing an additional 77,346 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.