NEW YORK, Aug. 26, 2024 /PRNewswire/ -- Purcell & Lefkowitz LLP announces that it is investigating Corcept Therapeutics Incorporated (NASDAQ: CORT) on behalf of the company's shareholders. The investigation seeks to determine whether Corcept's directors breached their fiduciary duties in connection with recent corporate actions. If you are a shareholder of Corcept Therapeutics Incorporated and are interested in obtaining additional information regarding your rights and options, free of charge, please visit ...

Corcept Therapeutics (CORT) closed the last trading session at $34.94, gaining 5% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $59.60 indicates a 70.6% upside potential. The average comprises five short-term price targets ranging from a low of $38 to a high of $78, with a standard deviation of $17.33. While the lowest estimate indicates an increase of 8.8% from the current price ...

Company Performance - Corcept Therapeutics (CORT) shares have increased by 26.8% over the past month, reaching a new 52-week high of $39.75 [1] - Year-to-date, the stock has gained 19.1%, outperforming the Zacks Medical sector's 7.1% and the Zacks Medical - Drugs industry's -1.9% [1] Earnings and Revenue - Corcept has consistently exceeded earnings expectations, reporting an EPS of $0.32 against a consensus estimate of $0.23 in its last earnings report [2] - For the current fiscal year, Corcept is projected to achieve earnings of $1.03 per share on revenues of $657.86 million, reflecting a 9.57% increase in EPS and a 36.38% increase in revenues [3] - The next fiscal year forecasts earnings of $1.56 per share on revenues of $714.87 million, indicating a year-over-year change of 50.87% in EPS and 8.67% in revenues [3] Valuation Metrics - Corcept's current valuation metrics show a Price-to-Earnings (P/E) ratio of 37.4X for the current fiscal year, significantly higher than the peer industry average of 16.9X [6] - The stock trades at a trailing cash flow basis of 40.4X compared to the peer group's average of 8.6X, indicating a premium valuation [6] Zacks Rank and Style Scores - Corcept holds a Zacks Rank of 2 (Buy) due to rising earnings estimates, meeting the criteria for potential investment [7] - The stock has a Value Score of D, a Growth Score of B, and a Momentum Score of A, resulting in a combined VGM Score of B [6][7] Industry Comparison - Chugai Pharmaceutical Co., Ltd. (CHGCY) is a notable peer with a Zacks Rank of 2 (Buy) and strong earnings performance, expected to post earnings of $0.78 per share on revenues of $7.52 billion for the current fiscal year [8][9] - CHGCY shares have gained 17.7% over the past month, trading at a forward P/E of 27.95X and a P/CF of 24.64X [10] - The Medical - Drugs industry is positioned in the top 40% of all industries, suggesting favorable conditions for both CORT and CHGCY [10]

Corcept Therapeutics (CORT) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving. The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this drug developer, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings esti ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Eve ...

Corcept Therapeutics Overview For some background: The conflict between Corcept and Teva revolves around Corcept's Cushing's drug, Korlym, which was first approved in 2012. After the drug enjoyed several years of orphan drug exclusivity, Teva filed an ANDA in 2018 for a generic version, prompting a legal dispute. The dispute is regarding a couple of Corcept's key patents, particularly U.S. Patents 10,195,214 and 10,842,800, that cover methods of safely administering Korlym with CYP3A4 inhibitors. In late De ...

Corcept Therapeutics Incorporated (CORT) reported second-quarter 2024 earnings of 32 cents per share, which beat the Zacks Consensus Estimate of 23 cents. The company had reported earnings of 25 cents per share in the year-ago quarter. Quarter in Detail Research and development expenses surged 35.5% year over year to $58.7 million. Consequently, operating expenses increased to $128.2 million, up 45.5% from the year-ago quarter's level, owing to higher expenses related to ongoing clinical studies and support ...

Financial Data and Key Metrics Changes - Revenue for Q2 2024 was $163.8 million, a 39% increase compared to Q2 2023. The company has raised its 2024 revenue guidance to between $640 million and $670 million [5] - Net income for Q2 2024 was $35.5 million, up from $27.5 million in Q2 2023 [5] - Cash and investments as of June 30, 2024, totaled $492.5 million [5] Business Line Data and Key Metrics Changes - The Endocrinology division experienced significant growth driven by a record number of new Korlym prescribers and patients receiving Korlym [31] - The CATALYST study revealed that one in four patients enrolled had hypercortisolism, indicating a higher prevalence than previously recognized [10][32] Market Data and Key Metrics Changes - The awareness of hypercortisolism is increasing among physicians, leading to more screenings and treatments [9] - The company is seeing traction among diabetologists, who historically have not prescribed Korlym or screened for Cushing's syndrome [51][77] Company Strategy and Development Direction - The company is advancing its proprietary selective cortisol modulator, relacorilant, with plans to submit a new drug application in Q4 2024 [13] - The company is also exploring relacorilant as a treatment for various cancers, including platinum-resistant ovarian cancer and prostate cancer [14][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing growth of the commercial business and the potential for increased patient awareness and treatment options [21] - The results from the GRACE study were positively received by the endocrinology community, indicating strong interest in relacorilant [48] Other Important Information - The company is preparing for the potential impact of generic competition for Korlym, with a focus on maintaining continuity of care for patients [76] - The GRADIENT study is expected to provide valuable data on the treatment of hypercortisolism caused by adrenal adenoma or hyperplasia, with results anticipated in Q4 2024 [37] Q&A Session Summary Question: What is the current awareness of hypercortisolism in the endocrinology community? - Management indicated that awareness is increasing, leading to more screenings and treatments [46] Question: What impact has the generic Korlym had on the market? - The Teva product has been available for several months but has had little impact on the company's business [70] Question: What feedback has been received from the endocrinology community regarding the GRACE study results? - The reception has been outstanding, with clinicians excited about the positive results and broad improvements observed [48] Question: What is the reason for the delay in the relacorilant NDA submission? - The decision to include data from the GRADIENT trial in the NDA submission led to the delay, with data expected in Q4 [93] Question: How does the wider prevalence of hypercortisolism affect pricing strategies for relacorilant? - Pricing for relacorilant is expected to be in line with Korlym, but there is potential for a premium due to its favorable efficacy and safety profile [55][78]

This quarterly report represents an earnings surprise of 39.13%. A quarter ago, it was expected that this drug developer would post earnings of $0.21 per share when it actually produced earnings of $0.25, delivering a surprise of 19.05%. Corcept, which belongs to the Zacks Medical - Drugs industry, posted revenues of $163.8 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 6.41%. This compares to year-ago revenues of $117.72 million. The company has topped consensus revenue ...

There have been no material changes in our obligations under contractual agreements described in our Annual Report on Form 10-K for the year ended December 31, 2023. Melucci Litigation and Settlement On April 12, 2024, we entered into a six-year sublease (the "Sublease") with Zuora, Inc. for office space located at 101 Redwood Shores Parkway, Redwood City, California, effective from July 1, 2024. The leased property will serve as our new headquarters effective August 1, 2024. The portion of the premises sub ...