Are Smart Investors Making the Right Decision? Corcept Therapeutics Incorporated (CORT)

Corcept Therapeutics Incorporated (NASDAQ: CORT) stock jumped 2.07% on Tuesday to $25.15 against a previous-day closing price of $24.64. With 0.77 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.9 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $25.67 whereas the lowest price it dropped to was $24.62. The 52-week range on CORT shows that it touched its highest point at $30.14 and its lowest point at $17.86 during that stretch. It currently has a 1-year price target of $31.00. Beta for the stock currently stands at 0.49.

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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 up-trending over the past week, with a rise of 3.54%, but this was up by 11.78% over a month. Three-month performance surged to 15.16% while six-month performance fell -5.13%. The stock gained 23.16% in the past year, while it has gained 23.83% so far this year. A look at the trailing 12-month EPS for CORT yields 0.81 with Next year EPS estimates of 0.57. For the next quarter, that number is 0.15. This implies an EPS growth rate of -2.10% for this year and -10.62% for next year.

Float and Shares Shorts:

At present, 107.89 million CORT shares are outstanding with a float of 95.67 million shares on hand for trading. On Apr 27, 2023, short shares totaled 17.43 million, which was 17.16% higher than short shares on Mar 30, 2023. 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.

Institutional Ownership:

Through their ownership of 83.62% of CORT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 39.46% of CORT, in contrast to 36.81% held by mutual funds. Shares owned by individuals account for 34.42%. As the largest shareholder in CORT with 13.21% of the stake, BlackRock Fund Advisors holds 14,247,724 shares worth 14,247,724. A second-largest stockholder of CORT, The Vanguard Group, Inc., holds 10,104,947 shares, controlling over 9.37% of the firm’s shares. Ingalls & Snyder LLC is the third largest shareholder in CORT, holding 8,370,017 shares or 7.76% stake. With a 6.04% stake in CORT, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,513,405 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.65% of CORT stock, is the second-largest Mutual Fund holder. It holds 2,855,392 shares valued at 64.33 million. Federated Hermes Kaufmann Fund holds 2.49% of the stake in CORT, owning 2,681,070 shares worth 60.4 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, 2023, CORT reported revenue of $103.39M and operating income of $31.43M. The EBITDA in the recently reported quarter was $31.43M and diluted EPS was $0.24.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CORT since 0 analysts follow the stock currently. 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 $44.00 and a low target of $25.00, the average target price over the next 12 months is $31.00. Based on these targets, CORT could surge 74.95% to reach the target high and fall by -0.6% to reach the target low. Reaching the average price target will result in a growth of 23.26% 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.

Summary of Insider Activity:

Insiders traded CORT stock several times over the past three months with 10 Buys and 0 Sells. In these transactions, 13,894 shares were bought while 0 shares were sold. The number of buy transactions has increased to 40 while that of sell transactions has risen to 28 over the past year. The total number of shares bought during that period was 1,732,517 while 1,533,439 shares were sold.

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