Corcept Therapeutics Inc
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Health Care : Pharmaceuticals | Small Cap Growth
Company profile

Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR). As of December 31, 2016, it had discovered three structurally distinct series of selective cortisol modulators, all of which share mifepristone's affinity for GR but, unlike mifepristone, do not bind to the progesterone receptor. It is conducting two clinical trials of its selective cortisol modulator, CORT125134. One trial is investigating CORT125134 as a treatment for patients with Cushing syndrome. The second trial is investigating the combination of CORT125134 and nab-paclitaxel (Celgene Corporation's Abraxane) to treat patients with solid-tumor cancers.

Closing Price
$17.70
Day's Change
-0.30 (-1.67%)
Bid
--
Ask
--
B/A Size
--
Day's High
18.33
Day's Low
17.46
Volume
(Average)
Volume:
580,115

10-day average volume:
576,703
580,115

UPDATE: Semiconductor stocks are hot, and these numbers say they have more room to run

6:50 am ET September 18, 2020 (MarketWatch)
Print

By Philip van Doorn, MarketWatch

You may be surprised at how cheap many look when compared with the S&P 500

Investors are willing to pay dearly for growth in this stock market environment. But if you turn away from headlines about large merger deals, you may be surprised that some chip makers are trading at valuations well below that of the S&P 500 Index, which includes plenty of slow-growing companies.

Nvidia Inc. (NVDA) made a big splash Sunday when it announced a $40 billion deal to acquire Arm Holdings. This would broaden Nvidia's manufacturing scale, setting it up to better compete (http://www.marketwatch.com/story/nvidias-deal-for-arm-could-mean-a-real-challenge-to-intel-and-amd-but-is-likely-to-face-opposition-2020-09-14) with Intel Corp. (INTC) and Advanced Micro Devices Inc. (AMD). Nvidia's stock has risen so much that it trades for 51.5 times the consensus earnings estimate among analysts polled by FactSet. That's up from 33.9 at the end of 2019.

In June (http://www.marketwatch.com/story/chip-stocks-are-flying-high-yet-wall-street-still-sees-bargains-2020-06-04), we looked at the components of the iShares PHLX Semiconductor ETF (SOXX), which holds all 30 stocks in the PHLX Semiconductor Index . At the time, the semiconductor group was recovering more rapidly from the coronavirus doldrums of March than the S&P 500 Index was.

SOXX has accelerated, relative to the broader market, since then. Here's how the ETF has performed this year against the SPDR S&P 500 ETF (SPY):

Semiconductor group is cheap

Here's a chart comparing forward price to earnings ratios, based on consensus earnings estimates for the subsequent 12 months on a rolling basis among analysts polled by FactSet for SOXX and the S&P 500 Index :

As of the close Sept. 14, SOXX was trading for 19.8 times forward earnings estimates -- the same price-to-earnings (P/E) ratio it had Dec. 31. Meanwhile, the forward P/E for the S&P 500 has increased to 22.1 from 18.3 at the end of 2020.

Based on the most recent quarterly results available through Sept. 14, two-thirds of the SOXX 30 showed increases in revenue for their most recently reported quarter from a year earlier. In comparison, only about a third of the S&P 500 showed year-over-year increases in quarterly sales.

Here are the 30 SOXX stocks, listed by their percentage of the ETF's portfolio, along with current forward P/E ratios, those at the end of 2019, quarterly sales-growth figures and year-to-date total returns. You will need to scroll the table at the bottom, to the right, to see all the data:

Company Ticker P/E ratio P/E ratio - Dec. 31, 2019 Quarterly sales growth Total return - 2020 Share of SOXX portfolio

Nvidia Corp. US:NVDA 51.5 33.9 50% 119% 9.8%

Qualcomm Inc. US:QCOM 19.6 21.1 -49% 31% 9.5%

Broadcom Inc. US:AVGO 14.5 13.6 6% 18% 8.4%

Texas Instruments Inc. US:TXN 27.9 27.4 -12% 10% 7.9%

Taiwan Semiconductor Manufacturing Co. ADR US:TSM 26.9 21.9 34% 40% 5.4%

Intel Corp. US:INTC 11.5 12.9 20% -16% 5.3%

Advanced Micro Devices Inc. US:AMD 55.1 42.6 26% 70% 4.9%

NXP Semiconductors NV US:NXPI 23.5 15.9 -18% 0% 4.1%

Lam Research Corp. US:LRCX 14.6 17.9 18% 5% 3.8%

Micron Technology Inc. US:MU 14.1 18.7 14% -9% 3.5%

Analog Devices Inc. US:ADI 21.3 25.0 -2% -2% 3.4%

Applied Materials Inc. US:AMAT 12.3 16.4 23% -7% 3.4%

ASML Holding NV ADR US:ASML 35.0 29.5 27% 25% 3.3%

KLA Corp. US:KLAC 15.8 17.7 16% 1% 3.3%

Marvell Technology Group Ltd. US:MRVL 34.7 35.0 11% 48% 3.1%

Microchip Technology Inc. US:MCHP 17.1 18.8 -1% -1% 3.0%

Xilinx Inc. US:XLNX 35.0 31.4 -14% 5% 2.9%

Skyworks Solutions Inc. US:SWKS 21.3 18.7 -4% 15% 2.7%

Maxim Integrated Products Inc. US:MXIM 27.0 26.4 -2% 10% 2.1%

Qorvo Inc. US:QRVO 17.2 19.3 2% 6% 1.7%

Teradyne Inc. US:TER 21.7 21.1 49% 13% 1.5%

Monolithic Power Systems Inc. US:MPWR 49.1 39.8 23% 40% 1.3%

Entegris Inc. US:ENTG 27.0 22.1 18% 36% 1.1%

ON Semiconductor Corp. US:ON 22.1 16.6 -10% -10% 1.1%

Cree Inc. US:CREE N/A N/A -18% 36% 0.8%

MKS Instruments Inc. US:MKSI 14.7 19.9 15% -5% 0.7%

Cabot Microelectronics Corp. US:CCMP 20.8 20.6 1% 2% 0.5%

Silicon Laboratories Inc. US:SLAB 34.0 34.7 0% -16% 0.5%

Semtech Corp. US:SMTC 30.0 32.5 5% 6% 0.4%

Cirrus Logic Inc. US:CRUS 18.1 26.1 2% -27% 0.4%

Source: FactSet

You can click on the tickers for more about each company.

Qualcomm Inc. (QCOM), the second-largest holding of SOXX, had a 49% decline in fiscal third-quarter earnings, because the year-earlier quarterly revenue of $9.64 billion included $4.7 billion from a settlement with Apple and contract manufacturers, and $150 million in revenue from an interim agreement with Huawei. Excluding those items, Qualcomm's $4.89 billion in revenue for the fiscal third quarter of 2020 would have been up 2% from a year earlier.

Here's a summary of ratings and consensus price targets for the group:

Company Ticker Share 'buy' ratings Share neutral ratings Share 'sell' ratings Closing price - Sept. 14 Consensus price target Implied 12-month upside potential

Nvidia Corp. US:NVDA 81% 14% 5% $514.89 $553.93 8%

Qualcomm Inc. US:QCOM 64% 29% 7% $113.46 $122.18 8%

Broadcom Inc. US:AVGO 84% 16% 0% $362.20 $401.31 11%

Texas Instruments Inc. US:TXN 39% 45% 16% $138.53 $141.12 2%

Taiwan Semiconductor Manufacturing Co. ADR US:TSM 87% 6% 7% $80.50 $69.37 -14%

Intel Corp. US:INTC 30% 45% 25% $49.41 $57.22 16%

Advanced Micro Devices Inc. US:AMD 39% 53% 8% $77.90 $78.32 1%

(MORE TO FOLLOW) Dow Jones Newswires

September 18, 2020 06:50 ET (10:50 GMT)

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