Biopharma company Corcept Therapeutics (NASDAQ: CORT) will be announcing earnings results this Tuesday after market hours. Here’s what to look for.
Corcept beat analysts’ revenue expectations last quarter, reporting revenues of $256.1 million, up 31.7% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and full-year revenue guidance exceeding analysts’ expectations.
Is Corcept a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Corcept’s revenue to grow 61% year on year, improving from the 13.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Corcept has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Corcept’s peers in the branded pharmaceuticals segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Eli Lilly delivered year-on-year revenue growth of 38.6%, beating analysts’ expectations by 7.9%, and Supernus Pharmaceuticals reported revenues up 18.1%, topping estimates by 3.9%. Eli Lilly traded up 9.8% following the results while Supernus Pharmaceuticals’s stock price was unchanged.
Read our full analysis of Eli Lilly’s results here and Supernus Pharmaceuticals’s results here.
There has been positive sentiment among investors in the branded pharmaceuticals segment, with share prices up 3.2% on average over the last month. Corcept is down 29.1% during the same time and is heading into earnings with an average analyst price target of $141 (compared to the current share price of $86.52).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
