Corcept Therapeutics Incorporated (CORT) Issues Earnings Results
Corcept Therapeutics Incorporated (NASDAQ:CORT) announced 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 net margin of 22.28% and a return on equity of 51.45%. The business had revenue of $42.70 million during the quarter, compared to analysts’ expectations of $41.64 million. During the same period in the prior year, the firm posted $0.02 EPS. Corcept Therapeutics’s revenue for the quarter was up 96.8% compared to the same quarter last year.
A number of equities research analysts have weighed in on CORT shares. Piper Jaffray Companies lifted their price objective on Corcept Therapeutics from $18.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 8th. Stifel Nicolaus started coverage on Corcept Therapeutics in a report on Thursday, August 31st. They issued a “buy” rating and a $20.00 price objective on the stock. BidaskClub lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Ladenburg Thalmann Financial Services set a $20.00 price objective on Corcept Therapeutics and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, Zacks Investment Research lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average 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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