Corcept Therapeutics (NASDAQ:CORT) posted its quarterly earnings results on Thursday. The biotechnology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03, Fidelity Earnings reports. The company had revenue of $81.51 million during the quarter, compared to analysts’ expectations of $77.86 million. Corcept Therapeutics had a return on equity of 27.97% and a net margin of 29.16%. The firm’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS.
Shares of CORT stock traded up $0.41 on Friday, reaching $15.01. 1,863,000 shares of the company were exchanged, compared to its average volume of 928,963. Corcept Therapeutics has a one year low of $9.14 and a one year high of $19.48. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 25.02 and a beta of 1.35. The company has a 50-day moving average of $14.25 and a 200-day moving average of $12.18.
CORT has been the topic of several analyst reports. Zacks Investment Research upgraded Corcept Therapeutics from a “sell” rating to a “hold” rating and set a $12.00 price objective on the stock in a report on Wednesday, July 31st. TheStreet raised Corcept Therapeutics from a “c+” rating to a “b” rating in a research report on Friday, August 16th. HC Wainwright started coverage on Corcept Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price target on the stock. ValuEngine downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.00.
About Corcept Therapeutics
Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.
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