Equities Analysts Set Expectations for Corcept Therapeutics Incorporated’s Q1 2023 Earnings (NASDAQ:CORT)

Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) – Stock analysts at Zacks Research issued their Q1 2023 EPS estimates for shares of Corcept Therapeutics in a research note issued on Tuesday, March 14th. Zacks Research analyst E. Bagri forecasts that the biotechnology company will post earnings per share of $0.23 for the quarter. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $0.85 per share. Zacks Research also issued estimates for Corcept Therapeutics’ Q2 2023 earnings at $0.24 EPS, Q3 2023 earnings at $0.23 EPS, Q4 2023 earnings at $0.13 EPS, FY2023 earnings at $0.82 EPS, Q1 2024 earnings at $0.18 EPS, Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.20 EPS, Q4 2024 earnings at $0.20 EPS and FY2024 earnings at $0.79 EPS.

Several other research analysts have also weighed in on CORT. Jefferies Financial Group lowered Corcept Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $35.00 to $22.00 in a research report on Wednesday, February 15th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Corcept Therapeutics in a report on Wednesday, March 1st. StockNews.com started coverage on Corcept Therapeutics in a report on Thursday. They set a “buy” rating for the company. Finally, Canaccord Genuity Group dropped their price objective on shares of Corcept Therapeutics from $33.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, March 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.50.

Corcept Therapeutics Trading Down 1.1 %

Shares of CORT opened at $20.64 on Friday. The firm has a 50-day moving average price of $22.16 and a 200 day moving average price of $23.95. The firm has a market capitalization of $2.23 billion, a P/E ratio of 23.45 and a beta of 0.48. Corcept Therapeutics has a 12-month low of $17.19 and a 12-month high of $30.14.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The biotechnology company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.09). Corcept Therapeutics had a net margin of 25.21% and a return on equity of 22.20%. The business had revenue of $103.06 million during the quarter, compared to analyst estimates of $106.93 million. During the same quarter in the previous year, the company posted $0.26 EPS. The firm’s revenue was up 4.3% on a year-over-year basis.

Institutional Trading of Corcept Therapeutics

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in Corcept Therapeutics by 2.4% in the 1st quarter. JPMorgan Chase & Co. now owns 216,081 shares of the biotechnology company’s stock valued at $4,866,000 after acquiring an additional 5,036 shares during the period. American Century Companies Inc. boosted its holdings in Corcept Therapeutics by 8.2% during the first quarter. American Century Companies Inc. now owns 88,553 shares of the biotechnology company’s stock worth $1,994,000 after buying an additional 6,684 shares in the last quarter. Citigroup Inc. increased its holdings in Corcept Therapeutics by 15.0% in the first quarter. Citigroup Inc. now owns 103,241 shares of the biotechnology company’s stock valued at $2,325,000 after buying an additional 13,488 shares in the last quarter. Natixis Advisors L.P. increased its stake in Corcept Therapeutics by 56.7% in the 1st quarter. Natixis Advisors L.P. now owns 18,581 shares of the biotechnology company’s stock valued at $418,000 after purchasing an additional 6,726 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Corcept Therapeutics by 3.3% during the 1st quarter. Acadian Asset Management LLC now owns 31,845 shares of the biotechnology company’s stock worth $716,000 after buying an additional 1,032 shares during the last quarter. Institutional investors and hedge funds own 80.08% of the company’s stock.

Corcept Therapeutics Company Profile

(Get Rating)

Corcept Therapeutics, Inc is a commercial-stage pharmaceutical company, which engages in the discovery, development and commercialization of medications to treat severe metabolic, oncologic and psychiatric disorders. It focuses on the development of drugs for disorders that are associated with a steroid hormone called cortisol.