Corcept Therapeutics Incorporated (CORT) has been having a fabulous 2024, with its share price increasing 60.5% year to date as of Nov. 5, 2024.This company engages in the discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic and neurologic disorders in the United States. It has spent more than 25 years dedicated to advancing cortisol modulation, resulting in the discovery of more than 1,000 unique selective modulators. Remaining focused on innovation, Corcept i ...

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Corcept Therapeutics (CORT) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power ...

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, November 5th:Corcept Therapeutics Incorporated (CORT) : This drugmaker for severe endocrinologic, oncologic, metabolic, and neurologic disorders has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.6% over the last 60 days.Corcept’s shares gained 46.4% over the last three months compared with the S&P 500’s advance of 9.1%. The company possesses a Mome ...

Company Performance - Corcept Therapeutics (CORT) shares have increased by 12.1% over the past month and reached a new 52-week high of $51.32, with a year-to-date gain of 54.1% compared to the Zacks Medical sector's 3.1% and the Zacks Medical - Drugs industry's -4.2% return [1][2] - The company has consistently exceeded earnings expectations, reporting EPS of $0.41 against a consensus estimate of $0.27 in its last earnings report on October 30, 2024, and beating revenue estimates by 6.07% [2] Financial Projections - For the current fiscal year, Corcept is projected to achieve earnings of $1.25 per share on revenues of $683.78 million, reflecting a 32.98% increase in EPS and a 41.75% increase in revenues [3] - The next fiscal year forecasts earnings of $1.67 per share on revenues of $754.7 million, indicating year-over-year changes of 33.76% in EPS and 10.37% in revenues [3] Valuation Metrics - Corcept has a Value Score of D, with Growth and Momentum Scores of B and A, respectively, resulting in a VGM Score of B [6] - The stock trades at 40.1X current fiscal year EPS estimates, significantly higher than the peer industry average of 17.6X, and at 52.3X on a trailing cash flow basis compared to the peer group's average of 9.1X [6] Zacks Rank - Corcept holds a Zacks Rank of 1 (Strong Buy) due to rising earnings estimates, aligning with the recommendation for investors to select stocks with Zacks Rank of 1 or 2 and Style Scores of A or B [7] Industry Comparison - The Medical - Drugs industry is positioned in the top 29% of all industries, suggesting favorable conditions for both Corcept and its peer, Catalyst Pharmaceuticals, Inc. (CPRX), which has a Zacks Rank of 2 (Buy) [9][10]

Core Viewpoint - Corcept Therapeutics (CORT) shares have increased by 4.8% recently, with a mean price target of $74.60 suggesting a potential upside of 56.7% from the current price of $47.62 [1] Price Targets - The mean estimate consists of five short-term price targets with a standard deviation of $5.18, indicating variability among analysts [2] - The lowest estimate of $67 indicates a 40.7% increase, while the highest estimate suggests a surge of 68% to $80 [2] - A low standard deviation signifies a high degree of agreement among analysts regarding price movement [7] Analyst Sentiment - Analysts are optimistic about CORT's earnings prospects, as indicated by upward revisions in earnings estimates [9] - Over the past 30 days, the Zacks Consensus Estimate for the current year has risen by 11.8%, with three estimates moving higher and no negative revisions [10] - CORT holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [11] Caution on Price Targets - While price targets are popular among investors, their reliability has been questioned, as they often mislead rather than guide [5][6] - Analysts may set overly optimistic price targets due to business incentives, which can inflate expectations [6] - Investors should approach price targets with skepticism and not rely solely on them for investment decisions [8]

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it.The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock alive.Our " ...

Investors might want to bet on Corcept Therapeutics (CORT) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.The upward trend in estimate revisions for this drug developer reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation be ...

Core Insights - Corcept Therapeutics Incorporated (CORT) reported third-quarter 2024 earnings of 41 cents per share, significantly exceeding the Zacks Consensus Estimate of 27 cents, and up from 28 cents per share in the same quarter last year [1] - Revenues for the third quarter increased by 48% year over year to $182.5 million, surpassing the Zacks Consensus Estimate of $172 million, with the revenue solely derived from product sales of the Cushing's syndrome drug, Korlym [1][3] Financial Performance - Revenue from Korlym exceeded the model estimate of $170.3 million [3] - Research and development expenses rose by 30.3% year over year to $59.3 million [3] - Selling, general and administrative expenses increased by approximately 62.7% year over year to $73.7 million [3] - Total operating expenses increased by 47.1% year over year to $135.9 million in the third quarter [3] - Cash and investments as of September 30, 2024, totaled $547.6 million, up from $492.5 million as of June 30, 2024 [4] Guidance and Future Outlook - Corcept raised its revenue guidance for 2024, now expecting total revenues in the range of $675-$700 million, compared to the previous projection of $640-$670 million [5] Pipeline Developments - Corcept's lead pipeline candidate, relacorilant, is currently in phase III of the GRACE study for treating Cushing's syndrome [6] - The GRACE study met its primary endpoint, showing that patients treated with relacorilant experienced loss of blood pressure control compared to placebo [7] - The GRADIENT study is also evaluating relacorilant for patients with Cushing's syndrome caused by adrenal adenoma, with significant improvements noted in hypertension and other symptoms [9][10] - Corcept plans to file a new drug application for relacorilant later in the fourth quarter of 2024, with data from the GRACE study forming the basis for the application [12] Stock Performance - Corcept's shares have increased by 44.4% year to date, contrasting with a 4.3% decline in the industry [3] - Following the earnings announcement, shares fell by 10.5% in after-hours trading on October 30 [2][11]

Corcept Therapeutics Incorporated (NASDAQ:CORT) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET Company Participants Atabak Mokari - Chief Financial Officer Charlie Robb - Chief Business Officer Joe Belanoff - Chief Executive Officer Conference Call Participants David Amsellem - Piper Sandler Matt Kaplan - Ladenburg Swayampakula Ramakanth - H. C. Wainwright Joon Lee - Truist Operator Good day and thank you for standing by. Welcome to the Corcept Therapeutics Conference Call. At this time, all p ...