We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why Is Corcept Therapeutics (CORT) Up 5.3% Since Its Last Earnings Report?
Read MoreHide Full Article
A month has gone by since the last earnings report for Corcept Therapeutics Incorporated (CORT - Free Report) . Shares have added about 5.3% in that time frame.
Will the recent positive trend continue leading up to its next earnings release, or is CORT due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Corcept's Earnings and Sales Meet Estimates in Q4
Corcept’s adjusted fourth-quarter 2017 earnings of 19 cents per share were in line with the Zacks Consensus Estimate. The reported figure improved from the year-ago adjusted earnings of 6 cents.
Revenues increased 123.8% from the year-ago quarter figure to $53.3 million and was in line with the Zacks Consensus Estimate.
Research and development expenses improved 110.2% to $13.6 million. Likewise, selling, general and administrative expenses were up 42.8% to $16.8 million. In fact, the increase in operating expenses can be attributed to higher spending on the development of selective cortisol modulators including relacorilant, CORT118335 and CORT125281.
Pipeline Update
During the quarter Corcept reported interim results from phase II study of relacorilant, being evaluated to treat patients with hyperglycemia. Patients enrolled in the study, initially received 100 mg/day of relacorilant for four weeks, then 150 mg/day for four weeks and subsequently 200 mg/day for four weeks. The study showed that patients with hyperglycemia demonstrated improved glucose tolerance as measured by the oral glucose tolerance test. Levels of osteocalcin — a marker of bone formation — also improved. Results for both these measures grew as the dose of relacorilant increased, with the highest dose reaching statistical significance compared to the baseline. 45% of the patients with uncontrolled hypertension experienced five millimeters or greater reduction in blood pressure.
The company is continuing testing of higher doses with results expected in the second quarter of 2018. The phase III study is expected to commence in the second quarter of 2018.
2017 Results
For 2017, the company’s adjusted earnings per share came in at 51 cents per share, up from 15 cents in 2016. Results beat the Zacks Consensus Estimate of 43 cents.
Revenues in 2017 increased 95.8% year over year to $159.2 million and missed the Zacks Consensus Estimate of $159.7 million.
2018 Guidance
Corcept provided 2018 revenue guidance. The company projects revenues to be in the range of $275-300 million. The Zacks Consensus Estimate for 2018 revenues is $290 million.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions. In the past month, the consensus estimate has shifted by 14.04% due to these changes.
Corcept Therapeutics Incorporated Price and Consensus
Currently, CORT has a great Growth Score of A, though it is lagging a lot on the momentum front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
The company's stock is suitable solely for growth based on our styles scores.
Outlook
CORT has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why Is Corcept Therapeutics (CORT) Up 5.3% Since Its Last Earnings Report?
A month has gone by since the last earnings report for Corcept Therapeutics Incorporated (CORT - Free Report) . Shares have added about 5.3% in that time frame.
Will the recent positive trend continue leading up to its next earnings release, or is CORT due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Corcept's Earnings and Sales Meet Estimates in Q4
Corcept’s adjusted fourth-quarter 2017 earnings of 19 cents per share were in line with the Zacks Consensus Estimate. The reported figure improved from the year-ago adjusted earnings of 6 cents.
Revenues increased 123.8% from the year-ago quarter figure to $53.3 million and was in line with the Zacks Consensus Estimate.
Research and development expenses improved 110.2% to $13.6 million. Likewise, selling, general and administrative expenses were up 42.8% to $16.8 million. In fact, the increase in operating expenses can be attributed to higher spending on the development of selective cortisol modulators including relacorilant, CORT118335 and CORT125281.
Pipeline Update
During the quarter Corcept reported interim results from phase II study of relacorilant, being evaluated to treat patients with hyperglycemia. Patients enrolled in the study, initially received 100 mg/day of relacorilant for four weeks, then 150 mg/day for four weeks and subsequently 200 mg/day for four weeks. The study showed that patients with hyperglycemia demonstrated improved glucose tolerance as measured by the oral glucose tolerance test. Levels of osteocalcin — a marker of bone formation — also improved. Results for both these measures grew as the dose of relacorilant increased, with the highest dose reaching statistical significance compared to the baseline. 45% of the patients with uncontrolled hypertension experienced five millimeters or greater reduction in blood pressure.
The company is continuing testing of higher doses with results expected in the second quarter of 2018. The phase III study is expected to commence in the second quarter of 2018.
2017 Results
For 2017, the company’s adjusted earnings per share came in at 51 cents per share, up from 15 cents in 2016. Results beat the Zacks Consensus Estimate of 43 cents.
Revenues in 2017 increased 95.8% year over year to $159.2 million and missed the Zacks Consensus Estimate of $159.7 million.
2018 Guidance
Corcept provided 2018 revenue guidance. The company projects revenues to be in the range of $275-300 million. The Zacks Consensus Estimate for 2018 revenues is $290 million.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions. In the past month, the consensus estimate has shifted by 14.04% due to these changes.
Corcept Therapeutics Incorporated Price and Consensus
Corcept Therapeutics Incorporated Price and Consensus | Corcept Therapeutics Incorporated Quote
VGM Scores
Currently, CORT has a great Growth Score of A, though it is lagging a lot on the momentum front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
The company's stock is suitable solely for growth based on our styles scores.
Outlook
CORT has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.