Corcept Therapeutics Incorporated (NASDAQ: CORT) stock fell -1.32% on Friday to $28.33 against a previous-day closing price of $28.71. With 1.15 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.8 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $29.66 whereas the lowest price it dropped to was $26.53. The 52-week range on CORT shows that it touched its highest point at $29.93 and its lowest point at $15.82 during that stretch. It currently has a 1-year price target of $29.83. Beta for the stock currently stands at 0.50.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CORT was down-trending over the past week, with a drop of -2.71%, but this was up by 8.09% over a month. Three-month performance surged to 27.50% while six-month performance rose 47.09%. The stock gained 31.34% in the past year, while it has gained 43.08% so far this year. A look at the trailing 12-month EPS for CORT yields 0.91 with Next year EPS estimates of 1.11. For the next quarter, that number is 0.21. This implies an EPS growth rate of 4.60% for this year and 21.59% for next year.
Float and Shares Shorts:
At present, 106.01 million CORT shares are outstanding with a float of 94.31 million shares on hand for trading. On Jul 14, 2022, short shares totaled 17.73 million, which was 16.69% higher than short shares on Jun 14, 2022. In addition to Dr. Joseph K. Belanoff M.D. as the firm’s Co-Founder, Pres, CEO & Director, Mr. Atabak Mokari serves as its CFO & Treasurer.
Through their ownership of 77.20% of CORT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold — of CORT, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 6.35% stake in CORT, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,743,843 shares are owned by the mutual fund manager. The Federated Hermes Kaufmann Fund, which owns about 4.80% of CORT stock, is the second-largest Mutual Fund holder. It holds 5,100,000 shares valued at 121.28 million. Vanguard Total Stock Market Index holds 2.37% of the stake in CORT, owning 2,517,483 shares worth 59.87 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2022, CORT reported revenue of $93.69M and operating income of $26.77M. Over the past year, revenue came in at $380.23M while operating income stood at $131.61M. It generated $22.80M net income for the quarter, which came to $111.84M over the last twelve months. The EBITDA in the recently reported quarter was $27.57M and diluted EPS was $0.20. EBITDA for the full year was $134.73M.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CORT since 6 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CORT analysts setting a high price target of $35.00 and a low target of $16.00, the average target price over the next 12 months is $29.83. Based on these targets, CORT could surge 23.54% to reach the target high and fall by -43.52% to reach the target low. Reaching the average price target will result in a growth of 5.29% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CORT will report FY 2022 earnings on 02/14/2023. Analysts have provided yearly estimates in a range of $1.45 being high and $0.89 being low. For CORT, this leads to a yearly average estimate of $1.00. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Corcept Therapeutics Incorporated reported $0.24 EPS against a consensus estimate of $0.24. The surprise factor in the prior quarter was -$0.03. Based on analyst estimates, the high estimate for the next quarter is $0.39 and the low estimate is $0.23. The average estimate for the next quarter is thus $0.27.
Summary of Insider Activity:
Insiders traded CORT stock several times over the past three months with 7 Buys and 11 Sells. In these transactions, 1,355,858 shares were bought while 1,196,994 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 1,603,417 while 1,429,732 shares were sold.