I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.
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MENLO PARK, Calif., August 15, 2019 – Shares of Corcept Therapeutics Incorporated (NASDAQ: CORT) showed the bearish trend with a lower momentum of -1.54% to $12.76. The company traded total volume of 507.702K shares as contrast to its average volume of 650.17K shares. The company has a market value of $1.45B and about 113.51M shares outstanding.
Corcept Therapeutics Incorporated (CORT) reported quarterly revenue of $64.80M, contrast to $57.70M in the first quarter of 2018. First quarter GAAP net income was $18.30M, contrast to $17.50M in the same period last year. Excluding non-cash expenses related to stock-based compensation, utilization of deferred tax assets and related income tax effects, non-GAAP net income in the first quarter was $24.30M, contrast to $24.50M in the first quarter of 2018.
First quarter operating expenses were $45.90M, contrast to $36.70M in the first quarter of 2018, mainly because of a boost in research and development personnel and increased spending to advance new compounds towards the clinic and to formulate and manufacture relacorilant, CORT118335 and CORT125281.
Cash and investments were $215.70M at March 31, 2019, a boost of $9.00M from year-end. This increase was after the expenditure of $13.60M in the first quarter to repurchase 1.20M shares of common stock. At March 31, 2019, $62.80M remained available under Corcept’s stock repurchase program.
The company reaffirmed 2019 revenue guidance of $285 – $315.0M.
The Company offered net profit margin of 29.10% while its gross profit margin was 97.90%. ROE was recorded as 28.00% while beta factor was 1.39. The stock, as of recent close, has shown the weekly upbeat performance of 3.40% which was maintained at -4.49% in this year.