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Corcept (CORT) Up 5.8% Since Last Earnings Report: Can It Continue?

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A month has gone by since the last earnings report for Corcept Therapeutics (CORT - Free Report) . Shares have added about 5.8% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Corcept due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

Corcept's Q4 Earnings Beat Estimates, Revenues Miss

Corcept reported earnings of 26 cents per share for fourth-quarter 2021, beating the Zacks Consensus Estimate of 22 cents. In the year-ago quarter, the company reported earnings of 20 cents per share.

Taking into account the impact of stock-based compensation and utilization of deferred tax assets, adjusted earnings came in at 35 cents per share in the reported quarter compared with 27 cents a year ago.

Revenues in the fourth quarter increased 15.3% year over year to $98.8 million. Corcept’s top line comprises sales of the Cushing’s syndrome drug, Korlym. Sales, however, missed the Zacks Consensus Estimate of $101 million.

In the fourth quarter of 2021, research and development expenses increased 0.9% to $28.5 million. Selling, general and administrative expenses increased 25.6% to $32.2 million.

2022 Guidance

Corcept expects total revenues in the range of $400-$430 million in 2022. The Zacks Consensus Estimate for the same stands at $415.05 million.

How Have Estimates Been Moving Since Then?

It turns out, estimates review have trended downward during the past month.

The consensus estimate has shifted -8% due to these changes.

VGM Scores

Currently, Corcept has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Notably, Corcept has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.


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