CORT's Q4 Earnings and Revenues Fall Short of Estimates

Corcept Therapeutics Incorporated CORT reported fourth-quarter 2024 earnings of 26 cents per share, which missed the Zacks Consensus Estimate of 37 cents. The company had reported earnings of 28 cents per share in the year-ago quarter.See the Zacks Earnings Calendar to stay ahead of market-making news.Revenues in the fourth quarter increased 34.3% year over year to $181.9 million. However, the figure missed the Zacks Consensus Estimate of $196 million. The top line solely comprises product sales of the Cushing’s syndrome drug, Korlym.In the past year, shares of Corcept have skyrocketed 162.4% against the industry’s decline of 15.4%.Image Source: Zacks Investment ResearchMore on CORT's Q4 EarningsRevenues from Korlym missed our model estimate of $188.6 million.Research and development expenses surged 28.5% year over year to $70.3 million.Selling, general and administrative expenses increased around 76.7% year over year to $83.4 million.Consequently, operating expenses increased 51% year over year to $156.6 million in the fourth quarter.Cash and investments, as of Dec 31, 2024, totaled $603.2 million compared with $547.6 million as of Sept. 30, 2024.CORT's Full-Year ResultsFor 2024, Corcept generated revenues of $675 million compared with $482.4 million recorded in the year-ago quarter.For the same period, the company reported earnings of $1.23 per share, up from 94 cents per share reported in the year-ago period.2025 GuidanceCorcept expects total revenues in the range of $900-$950 million in 2025. The Zacks Consensus Estimate for revenues is pegged at $811.9 million.CORT's Recent Pipeline UpdatesIn December 2024, Corcept submitted a new drug application (NDA) to the FDA for its proprietary, selective cortisol modulator, relacorilant, to treat patients with endogenous hypercortisolism (Cushing’s syndrome).The NDA was based on positive data from the GRACE study and confirmatory evidence from the phase III GRADIENT, as well as long-term extension studies and a phase II study in hypercortisolism.This apart, the phase III ROSELLA study is investigating relacorilant in combination with Abraxane (nab-paclitaxel) for treating patients with recurrent, platinum-resistant ovarian cancer. Progression-free survival data from the ROSELLA study is expected later in the first quarter of 2025.The company is also evaluating relacorilant plus Xtandi (enzalutamide) in patients with early-stage prostate cancer. The study is being conducted in collaboration with the University of Chicago.In December 2024, Corcept announced data from the phase II DAZALS study, which evaluated its selective cortisol modulator, dazucorilant, for treating patients with amyotrophic lateral sclerosis (ALS), a degenerative neurologic disorder.The study did not meet its primary endpoint, which was the change from baseline in the ALS Functional Rating Scale-Revised (ALSFRS-R) in patients treated with dazucorilant versus those treated with placebo.An open-label, long-term extension study is currently ongoing and one-year overall survival data is expected in the second quarter of 2025.Corcept Therapeutics Incorporated Price, Consensus and EPS Surprise Corcept Therapeutics Incorporated price-consensus-eps-surprise-chart | Corcept Therapeutics Incorporated QuoteCORT's Zacks Rank & Stocks to ConsiderCorcept currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the drug/biotech sector are Rigel Pharmaceuticals, Inc. RIGL, argenx SE ARGX and Pacira BioSciences, Inc. PCRX, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.In the past 60 days, estimates for Rigel Pharmaceuticals’ earnings per share have increased from 92 cents to $1.28 for 2025. In the past year, shares of RIGL have risen 44.1%.RIGL earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 1,754.28%.In the past 60 days, estimates for argenx’s earnings per share have increased from $9.08 to $10.85 for 2025. In the past year, shares of ARGX have risen 56.5%.ARGX’s earnings beat estimates in two of the trailing four quarters while missing the same on the remaining two occasions, the average surprise being 339.37%.In the past 60 days, estimates for Pacira BioSciences’ earnings per share have increased from $2.79 to $3.59 for 2025. In the past year, shares of PCRX have decreased 14.9%.PCRX’s earnings beat estimates in two of the trailing four quarters, met the same once and missed the same on the remaining occasion, the average surprise being 7.13%.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want 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 Rigel Pharmaceuticals, Inc. (RIGL): Free Stock Analysis Report Pacira BioSciences, Inc. (PCRX): Free Stock Analysis Report Corcept Therapeutics Incorporated (CORT): Free Stock Analysis Report argenex SE (ARGX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks