CORT Earnings Prediction
The chart below shows how CORT performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CORT sees a -3.24% change in stock price 10 days leading up to the earnings, and a +3.36% change 10 days following the report. On the earnings day itself, the stock moves by +0.75%. This data can give you a slight idea of what to expect for the next quarter's release.
CORT Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
182.55M
47.69%
11.45%
Gross Margin
98.43%
-0.24%
-0.03%
Operating Margin
25.53%
1.23%
17.49%
Net Margin
25.86%
1.85%
19.34%
EPS
0.42
50.00%
31.25%
No Data Available
CORT Earnings Analysis
Corcept Therapeutics Inc. Corporation (CORT.O) Earnings Conference Call
Positive
Quarterly Revenue Increase: Our revenue in the third quarter of 2024 was $182.5 million, an increase of 48% compared to the third quarter of last year.
Revenue Guidance Increase: We have increased our 2024 revenue guidance to $675 million to $700 million.
Net Income Increase: Net income was $47.2 million in the third quarter compared to $31.4 million in the third quarter of the prior year.
Cash and Investments Increase: Our cash and investments at September 30th were $547.6 million compared to $492.5 million at June 30th.
Stock Repurchase Program: We acquired $23.4 million of our common stock in the third quarter pursuant to our stock repurchase program.
Negative
Revenue Decline Q3 2024: Our revenue in the third quarter of 2024 was $182.5 million, a decrease of 48% compared to the third quarter of last year.
Net Income Decline: Net income was $47.2 million in the third quarter compared to $31.4 million in the third quarter of the prior year, indicating a decline in profitability.
Cash and Investments Increase: Our cash and investments at September 30th were $547.6 million compared to $492.5 million at June 30th, reflecting a significant cash outflow.
Stock Repurchase Program: We acquired $23.4 million of our common stock in the third quarter pursuant to our stock repurchase program, indicating a lack of growth opportunities.
Legal Appeal Process: The trial court ruled against us in December of last year, appealing that decision to the Federal Circuit Court of Appeals, which may lead to further legal challenges.
CORT FAQs
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CORT Earning Call Sentiment
Corcept Therapeutics Incorporated (CORT) Q3 2024 Earnings Call Transcript
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00:00
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CORT.O
0.84%Positive
The earnings call presents strong financial performance with a 48% revenue increase and a positive net income. The company raised its revenue guidance and announced a share repurchase, both positive indicators. Despite some risks, such as patent litigation and regulatory approval, the overall sentiment is positive due to strong clinical development progress and optimistic future prospects. The Q&A section supports management's confidence in their NDA submission and clinical trials, with analysts appearing satisfied with the responses. Given the market cap, the stock is likely to see a positive movement of 2% to 8%.
