Corcept Therapeutics Incorporated (CORT) Posts Earnings Results, Beats Expectations By $0.02 EPS

Corcept Therapeutics Incorporated (NASDAQ:CORT) issued its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02, Briefing.com reports. The business had revenue of $35.56 million for the quarter, compared to the consensus estimate of $31.37 million. Corcept Therapeutics had a net margin of 22.28% and a return on equity of 51.45%. The firm’s quarterly revenue was up 80.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS.

Corcept Therapeutics (NASDAQ:CORT) traded up 2.85% on Friday, reaching $14.07. 984,598 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $12.69 and its 200 day moving average is $10.66. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 70.00 and a beta of 2.06. Corcept Therapeutics has a 52 week low of $5.24 and a 52 week high of $15.26.

In other news, Director David L. Mahoney sold 6,091 shares of Corcept Therapeutics stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $12.50, for a total transaction of $76,137.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David L. Mahoney sold 6,510 shares of Corcept Therapeutics stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $12.50, for a total value of $81,375.00. The disclosure for this sale can be found here. Insiders have sold 42,601 shares of company stock worth $532,513 over the last three months. Insiders own 19.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. OxFORD Asset Management LLP raised its stake in shares of Corcept Therapeutics by 71.0% in the second quarter. OxFORD Asset Management LLP now owns 405,694 shares of the biotechnology company’s stock worth $4,787,000 after buying an additional 168,377 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Corcept Therapeutics by 83.5% in the second quarter. Dimensional Fund Advisors LP now owns 849,319 shares of the biotechnology company’s stock worth $10,022,000 after buying an additional 386,431 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Corcept Therapeutics by 44.4% in the second quarter. Renaissance Technologies LLC now owns 2,683,400 shares of the biotechnology company’s stock worth $31,664,000 after buying an additional 824,900 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Corcept Therapeutics by 114.4% in the second quarter. Parametric Portfolio Associates LLC now owns 91,728 shares of the biotechnology company’s stock worth $1,082,000 after buying an additional 48,937 shares during the last quarter. Finally, Suntrust Banks Inc. raised its stake in shares of Corcept Therapeutics by 4.0% in the second quarter. Suntrust Banks Inc. now owns 12,308 shares of the biotechnology company’s stock worth $145,000 after buying an additional 471 shares during the last quarter. 54.17% of the stock is currently owned by hedge funds and other institutional investors.

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Several brokerages recently issued reports on CORT. BidaskClub downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded 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 research report on Wednesday, July 19th. Ladenburg Thalmann Financial Services set a $20.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, July 18th. TheStreet upgraded shares of Corcept Therapeutics from a “c+” rating to a “b” rating in a research report on Monday, May 22nd. Finally, Piper Jaffray Companies set a $18.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $14.20.

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).

Earnings History for Corcept Therapeutics (NASDAQ:CORT)

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