Corcept Therapeutics (NASDAQ:CORT) Issues Quarterly Earnings Results

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.

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 for Corcept Therapeutics (NASDAQ:CORT)

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