Is NASDAQ:CORT suited for high growth investing?

A possible breakout setup was detected on CORCEPT THERAPEUTICS INC (NASDAQ:CORT) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NASDAQ:CORT.

Deciphering the Technical Picture of NASDAQ:CORT

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

We assign a technical rating of 10 out of 10 to CORT. Both in the recent history as in the last year, CORT has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, CORT did better than 92% of all other stocks. We also observe that the gains produced by CORT over the past year are nicely spread over this period.
• CORT is one of the better performing stocks in the Pharmaceuticals industry, it outperforms 84% of 196 stocks in the same industry.
• CORT is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month CORT has a been trading in the 40.62 - 47.71 range, which is quite wide. It is currently trading near the high of this range.

Our latest full technical report of CORT contains the most current technical analsysis.

Looking at the Setup

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NASDAQ:CORT exhibits a 8 setup rating, indicating its consolidation status in recent days and weeks.

CORT has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 45.69, a Stop Loss order could be placed below this zone.

Some of the high growth metrics of NASDAQ:CORT highlighted

• In the most recent financial report, CORCEPT THERAPEUTICS INC reported a 28.0% increase in quarterly earnings compared to the previous quarter. This notable growth indicates positive momentum in the company's financials, suggesting an upward trend
• CORCEPT THERAPEUTICS INC has experienced 39.15% q2q revenue growth, indicating a significant sales increase.
• CORCEPT THERAPEUTICS INC has achieved significant 1-year revenue growth of 33.02%, signaling its ability to capture market opportunities and drive top-line expansion. This growth indicates the company's effective execution and its potential for continued success.
• The average next Quarter EPS Estimate by analysts was adjusted by 15.57%, reflecting the evolving market expectations for the company's EPS growth.
• In the most recent financial report, CORCEPT THERAPEUTICS INC reported a 28.0% increase in quarterly earnings compared to the previous quarter. This notable growth indicates positive momentum in the company's financials, suggesting an upward trend
• CORCEPT THERAPEUTICS INC shows accelerating EPS growth: when comparing the current Q2Q growth of 28.0% to the previous year Q2Q growth of 4.17%, we see the growth rate improving.
• CORCEPT THERAPEUTICS INC showcases a robust Return on Equity (ROE) of 21.13%, indicating its ability to generate favorable returns for shareholders. This metric underscores the company's efficiency in utilizing its equity capital to generate profits.
• CORCEPT THERAPEUTICS INC exhibits a favorable Debt-to-Equity ratio at 0.0. This highlights the company's ability to limit excessive debt levels and maintain a strong equity base, demonstrating its financial stability and risk management practices.
• With 83.93% of the total shares held by institutional investors, CORCEPT THERAPEUTICS INC showcases a healthy distribution of ownership. This suggests a mix of institutional and retail investors, fostering a dynamic market for the stock.
• CORCEPT THERAPEUTICS INC has a strong history of beating EPS estimates in the last 4 quarters, signaling its ability to consistently exceed market expectations. This indicates the company's strong financial performance and its potential for creating shareholder value.
• CORCEPT THERAPEUTICS INC has achieved an impressive Relative Strength (RS) rating of 92.7, showcasing its ability to outperform the broader market. This strong performance positions CORCEPT THERAPEUTICS INC as an attractive stock for potential price appreciation.

More high growth momentum breakout stocks can be found in our High Growth Momentum Breakout screen.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.