Corcept Therapeutics (NASDAQ:CORT) Releases Quarterly Earnings Results

Corcept Therapeutics (NASDAQ:CORT) announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03, Fidelity Earnings reports. The business had revenue of $81.51 million for the quarter, compared to analysts’ expectations of $77.86 million. Corcept Therapeutics had a net margin of 30.41% and a return on equity of 29.08%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS.

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Shares of NASDAQ CORT traded down $0.08 during midday trading on Friday, reaching $16.44. The company had a trading volume of 700,800 shares, compared to its average volume of 770,653. The business’s 50-day simple moving average is $14.46 and its 200 day simple moving average is $12.30. The stock has a market cap of $1.89 billion, a P/E ratio of 27.40 and a beta of 1.35. Corcept Therapeutics has a 1 year low of $9.14 and a 1 year high of $19.48.

Several brokerages have recently issued reports on CORT. BidaskClub upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday. TheStreet upgraded shares of Corcept Therapeutics from a “c+” rating to a “b” rating in a report on Friday, August 16th. Zacks Investment Research upgraded shares of Corcept Therapeutics from a “sell” rating to a “hold” rating and set a $12.00 price target on the stock in a report on Wednesday, July 31st. ValuEngine downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group assumed coverage on shares of Corcept Therapeutics in a report on Tuesday, September 24th. They set a “buy” rating and a $20.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $15.00.

Corcept Therapeutics Company Profile

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 for Corcept Therapeutics (NASDAQ:CORT)

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