Corcept Therapeutics Reports Earnings Results

Corcept Therapeutics (NASDAQ:CORT) announced its quarterly earnings results on Wednesday. The biotechnology company reported earnings of $0.26 per share (EPS) for the quarter, which was below analysts' expectations of $0.37 by $0.11, as per reports from Zacks. The company also recorded a net margin of 22.35% and a return on equity of 24.54%. Additionally, Corcept Therapeutics has adjusted its guidance for the fiscal year 2025 regarding EPS.

Corcept Therapeutics Stock Performance

During trading on Wednesday, Corcept Therapeutics stock experienced an increase of $2.14, reaching a price of $63.37. The volume of shares traded was 1,315,439, which is higher than the average volume of 921,919 shares. The stock has a 50-day moving average of $59.60 and a 200-day moving average of $51.16. Furthermore, the company maintains a very low debt-to-equity ratio of 0.01, with quick and current ratios of 3.64 and 3.70, respectively. Over the past year, Corcept's stock has seen a low point of $20.84 and a high of $75.00, giving it a market capitalization of approximately $6.64 billion. The price-to-earnings ratio stands at 50.29, and the stock has a beta of 0.58.

Analyst Ratings Updates

Equity analysts have recently provided various updates regarding Corcept Therapeutics. HC Wainwright reaffirmed a "buy" rating with a target price of $80.00 in a report dated February 7th. On November 25th, StockNews.com downgraded the stock from a "strong-buy" rating to a "buy" rating. Additionally, Canaccord Genuity Group raised their price target from $78.00 to $130.00, also maintaining a "buy" rating. Currently, six analysts have rated the stock as a buy, leading to an average rating of "Buy" and an average target price of $88.25, according to MarketBeat.com.

Insider Transactions

In other news, Director Daniel N. Swisher, Jr. has sold 2,200 shares of Corcept's stock on February 10th, receiving an average price of $68.08 for a total transaction of $149,776.00. This sale was disclosed in a document filed with the SEC. In a separate transaction, insider Sean Maduck sold 20,000 shares on January 2nd at an average price of $50.39, amounting to a total of $1,007,800.00. After this sale, insider Maduck holds 85,318 shares valued at approximately $4,299,174.02, reflecting an 18.99% decrease in their holdings. Over the last 90 days, insiders have sold a total of 26,600 shares worth $1,399,576, and insiders currently own about 20.50% of the company's stock.

About Corcept Therapeutics

Corcept Therapeutics Incorporated is involved in the discovery and development of drugs aimed at treating severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. One of their notable products includes Korlym tablets, which are used to treat hyperglycemia secondary to hypercortisolism in adults with endogenous Cushing's syndrome, particularly for those who are also affected by type 2 diabetes mellitus or glucose intolerance and who have either failed surgery or are not suitable candidates for it.

earnings, stocks, biotechnology