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Corcept Therapeutics Inc. (CORT)
NASDAQ:CORT
Holding CORT?
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.38Last Year’s EPS
$0.28Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 9.62%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Positive
The call conveyed a strong positive outlook with significant growth in revenue and promising clinical trial results, particularly for relacorilant. However, there are ongoing legal challenges and some concerns regarding the statistical significance of certain clinical endpoints.Company Guidance
During the Q3 2024 earnings call for Corcept Therapeutics, several important metrics and guidance figures were highlighted. The company reported a significant revenue increase of 48% year-over-year, reaching $182.5 million for the quarter. Building on this momentum, Corcept raised its full-year 2024 revenue guidance to a range of $675 million to $700 million. The net income for the quarter was $47.2 million, up from $31.4 million in the same period last year. Additionally, cash and investments totaled $547.6 million as of September 30, marking an increase from $492.5 million at the end of June. The company also repurchased $23.4 million of its common stock during the quarter. Looking ahead, Corcept plans to submit a new drug application for relacorilant by year-end, following promising Phase III study results, and anticipates transformative impacts from upcoming data in Cushing syndrome, ovarian cancer, and ALS trials.Significant Revenue Growth
Revenue in the third quarter of 2024 was $182.5 million, an increase of 48% compared to the third quarter of last year.
Increased Revenue Guidance
Revenue guidance for 2024 has been increased to $675 million to $700 million.
Strong Cash Position
Cash and investments at September 30 were $547.6 million compared to $492.5 million at June 30.
Korlym Performance
Record high in new Korlym prescribers and patients receiving treatment with Korlym.
Positive Results from GRACE and GRADIENT Studies
Both studies showed clinically meaningful improvements in hypertension, glucose control, and body composition for patients with Cushing syndrome.
Promising Pipeline for Relacorilant
Relacorilant's potential NDA submission by year-end for Cushing syndrome supported by strong Phase III data.
Ongoing Clinical Trials
Expectations of data from trials in ovarian cancer, ALS, and diabetes by the end of the year.
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CORT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CORT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $46.89 | $48.97 | +4.44% |
| Jul 29, 2024 | $36.53 | $36.12 | -1.12% |
| May 01, 2024 | $23.88 | $25.06 | +4.94% |
| Feb 15, 2024 | $24.46 | $22.71 | -7.15% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Corcept Therapeutics Inc. (CORT) report earnings?
Corcept Therapeutics Inc. (CORT) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Corcept Therapeutics Inc. (CORT) earnings time?
Corcept Therapeutics Inc. (CORT) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CORT EPS forecast?
CORT EPS forecast for the fiscal quarter 2024 (Q4) is $0.38.
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