Corcept Therapeutics Stock Surges 61% in 2024: A Must Buy?

Zacks11-06

Corcept Therapeutics Incorporated CORT has been having a fabulous 2024, with its share price increasing 60.5% year to date as of Nov. 5, 2024. This company engages in the discovery and development of ...

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It has spent more than 25 years dedicated to advancing cortisol modulation, resulting in the discovery of more than 1,000 unique selective modulators. Remaining focused on innovation, Corcept is conducting advanced clinical trials.Corcept is a Zacks Rank #2  company and is part of the Zacks Medical – Drugs industry. Ionis Pharmaceuticals, Inc. IONS and Collegium Pharmaceutical, Inc. COLL are two of its peers from the same industry. While Ionis is ranked #3 , Collegium has a Rank #2 currently. Over the past 12 months, Corcept has grown 102.6% compared with a 68.4% rally of its Zacks Peer Group. 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It has spent more than 25 years dedicated to advancing cortisol modulation, resulting in the discovery of more than 1,000 unique selective modulators. Remaining focused on innovation, Corcept is conducting advanced clinical trials.\nThe company’s flagship drug, Korlym, approved for treating Cushing's syndrome, has witnessed a massive spurt in demand and has been driving growth. Also, a new drug application for the lead candidate, relacorilant, to treat Cushing’s syndrome is expected to be filed in the fourth quarter of 2024.\nCorcept is a Zacks Rank #2 (Buy) company and is part of the Zacks Medical – Drugs industry. Ionis Pharmaceuticals, Inc. IONS and Collegium Pharmaceutical, Inc. COLL are two of its peers from the same industry. While Ionis is ranked #3 (Hold), Collegium has a Rank #2 currently. Over the past 12 months, Corcept has grown 102.6% compared with a 68.4% rally of its Zacks Peer Group. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nImage Source: Zacks Investment Research\nLate last month, Corcept came out with quarterly earnings of 41 cents per share, beating the Zacks Consensus Estimate of 27 cents, pulling off a surprise of 51.9%. This compares favorably with earnings of 28 cents a year ago. In each of the last four quarters, the company surpassed the consensus estimate for earnings per share (EPS). Corcept posted revenues of $182.6 million for the prior quarter, beating the Zacks Consensus Estimate by 6.1%. This compares to year-ago revenues of $123.6 million. The company topped consensus revenue estimates three times over the last four quarters.\nIt will thus be prudent to bet on Corcept, which is currently undervalued at around $52. For the current fiscal year, Corcept is expected to post earnings of $1.25 per share and $683.8 million in revenues. This represents a 33% change in EPS and a 41.8% change in revenues. The Medical - Drugs industry itself is in the top 29% of all the industries in the Zacks universe, and that must also be considered while making an investment decision.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nCorcept Therapeutics Incorporated (CORT) : Free Stock Analysis Report\nCollegium Pharmaceutical, Inc. (COLL) : Free Stock Analysis Report\nIonis Pharmaceuticals, Inc. (IONS) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481018486"}