Corcept Therapeutics Incorporated (CORT) Posts Earnings Results, Misses Expectations By $0.02 EPS
Corcept Therapeutics Incorporated (NASDAQ:CORT) released its quarterly earnings data on Thursday. The biotechnology company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02), Briefing.com reports. Corcept Therapeutics had a return on equity of 67.59% and a net margin of 27.28%. The business had revenue of $42.70 million during the quarter, compared to analyst estimates of $41.64 million. During the same quarter in the previous year, the company earned $0.02 EPS. The firm’s revenue was up 96.8% compared to the same quarter last year.
Corcept Therapeutics (NASDAQ:CORT) opened at $17.32 on Friday. The firm has a market cap of $2.24 billion, a PE ratio of 67.97 and a beta of 2.04.
A number of analysts recently issued reports on CORT shares. Zacks Investment Research raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a report on Wednesday, July 19th. Piper Jaffray Companies set a $30.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a report on Tuesday. Ladenburg Thalmann Financial Services set a $20.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a report on Tuesday, July 18th. Stifel Nicolaus started coverage on shares of Corcept Therapeutics in a report on Thursday, August 31st. They set a “buy” rating and a $20.00 price target on the stock. Finally, BidaskClub raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Corcept Therapeutics has a consensus rating of “Buy” and a consensus price target of $18.20.
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Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).
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