The stock of Corcept Therapeutics Incorporated (NASDAQ:CORT) increased by $0.17 on Friday to finish at $30.87, up 0.55 percent. The last five days have seen an average of 760,980 shares of common stock traded. 16 times new highs were reached in the current year, with a gain of $10.56. The average number of shares traded over the last 20 days was 834,025, while the average volume over the last 50 days totaled 644,944.
CORT stock appreciated 36.47% since last month. On 07/14/23, the company’s shares reached a one-month low of $22.49. The stock touched a high of $31.90 on 08/03/23, after rallying from a low of $17.86 in 52 weeks. The price of CORT stock has risen by 51.99% or $10.56 this year, reaching a new high 16 times. Still, the stock price is down -3.23% from the 52-week high.
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Insider Transactions
CORT stock investors should be aware that Corcept Therapeutics Incorporated (CORT) stock had its last reported insider trading activity 7 days ago on Aug 07. On Aug 07, Director Swisher Daniel N JR sold 2,850 shares at $30.14 each. This transaction resulted in the insider making $85,909. On Aug 07, Lyon Joseph Douglas sold 412 shares at a price of US$31.22. After the transaction, the insider now owns 4,720 shares. Chief Accounting Officer Lyon Joseph Douglas had earlier sold 10,000 shares on Jun 06 for $23.60 a share. The transaction was completed for $236,000.
Valuation Metrics
Corcept Therapeutics Incorporated (CORT) has a trailing price-to-earnings (P/E) ratio of 37.28. Beta for the stock is 0.45. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 7.35, the price-to-book (PB) ratio of 7.47, and the price-to-cash flow ratio of 23.35.
Financial Health
For the three months ended June 29, Corcept Therapeutics Incorporated’s quick ratio was 4.60, while its current ratio was 4.60, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 98.70% percent. Corcept Therapeutics Incorporated’s EBITDA margin for the year ended June 29 was 28.77%, whereas its operating margin stood at 23.10% for the same period. Based on annual data, it had gross profit of $396.47 million and revenue of $401.86 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CORT’s return on assets (ROA) during the last 12 months has been 16.80%. There was a 19.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 19.60%.
Earnings Surprise
According to Corcept Therapeutics Incorporated’s quarterly financial report for the quarter that ended June 29, it had $190.89 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $117.72 million, while revenues rose by 12.17% to $105.65 million. It was predicted that Corcept Therapeutics Incorporated’s quarterly earnings would be $0.25, but it ended up being $0.15, beating the consensus by 66.70%. EBITDA was $28.73 million for the quarter. At the end of Corcept Therapeutics Incorporated’s most recent quarter ended June 29, its liabilities totaled 103.01 million, while its total debt was $0.3 million. Equity owned by shareholders amounts to $102.55 million.
Technical Picture
Here’s a quick look at Corcept Therapeutics Incorporated’s (CORT) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 79.61%, suggesting the stock is Overbought, with a 113.67% historical volatility rate.
The stochastic %K and %D were 84.02% and 82.90% respectively, while the average true range (ATR) was 1.09. Based on the 14-day stochastic reading of 86.86%, the RSI (14) reading is 78.64%. On the 9-day MACD Oscillator, the stock is at 1.15, and the 14-day reading is at 2.71.
Analyst Ratings
In its analyst report released on April 11, 2023, SVB Securities began covering Corcept Therapeutics Incorporated (NASDAQ: CORT). The stock was rated as a Market perform by the brokerage firm. Analysts have assigned Corcept Therapeutics Incorporated (CORT) an Overweight rating. CORT is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 4 others recommend it as a buy.
What is CORT’s price target for the next 12 months?
The current consensus forecast for the stock is between $26.00 and $47.50, with a median target price of $31.50. In analyzing these forecasts, the average price target given by analysts for Corcept Therapeutics Incorporated (CORT) is $33.25.
