Corcept Therapeutics (NASDAQ:CORT) announced its quarterly earnings data on Thursday. The biotechnology company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03, Fidelity Earnings reports. The company had revenue of $81.51 million during the quarter, compared to analyst estimates of $77.86 million. Corcept Therapeutics had a net margin of 29.16% and a return on equity of 27.97%. The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period last year, the business earned $0.22 EPS.
CORT stock traded up $0.41 during mid-day trading on Friday, hitting $15.01. 1,863,000 shares of the company were exchanged, compared to its average volume of 928,963. The firm has a fifty day simple moving average of $14.25 and a 200 day simple moving average of $12.18. The company has a market capitalization of $1.63 billion, a PE ratio of 25.02 and a beta of 1.35. Corcept Therapeutics has a twelve month low of $9.14 and a twelve month high of $19.48.
Several research analysts have weighed in on the stock. ValuEngine lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. TheStreet raised shares of Corcept Therapeutics from a “c+” rating to a “b” rating in a report on Friday, August 16th. HC Wainwright assumed coverage on shares of Corcept Therapeutics in a report on Friday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. Zacks Investment Research raised shares of Corcept Therapeutics from a “sell” rating to a “hold” rating and set a $12.00 price objective for the company in a report on Wednesday, July 31st. 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 objective for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $15.00.
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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