Corcept Therapeutics Incorporated (CORT)
Corcept Therapeutics Incorporated discovers, develops, and markets drugs for the treatment of severe metabolic, cancer, and psychiatric disorders in the United States. The company is headquartered in Menlo Park, California.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 25.84% per annum.
- CORT price at the close of May 9, 2024 was $26.60 and was higher than the top border of the primary price channel by $15.65 (142.85%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 7.69% per annum.
- CORT price at the close of May 9, 2024 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of CORT price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: November 19, 2020
End date: February 15, 2022
a = 3.7429
b = -0.0008
s = 0.0731
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0008) – 1
= -25.84%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0731) – 1
= 33.96%
November 19, 2020 calculations
Top border of price channel:
Exp(Y387)
= Exp(a + b × X387 + 2 × s)
= Exp(a + b × 559 + 2 × s)
= Exp(3.7429 + -0.0008 × 559 + 2 × 0.0731)
= Exp(3.4313)
= $30.92
Bottom border of price channel:
Exp(Y387)
= Exp(a + b × X387 – 2 × s)
= Exp(a + b × 559 – 2 × s)
= Exp(3.7429 + -0.0008 × 559 – 2 × 0.0731)
= Exp(3.1389)
= $23.08
February 15, 2022 calculations
Top border of price channel:
Exp(Y698)
= Exp(a + b × X698 + 2 × s)
= Exp(a + b × 1,012 + 2 × s)
= Exp(3.7429 + -0.0008 × 1,012 + 2 × 0.0731)
= Exp(3.0603)
= $21.33
Bottom border of price channel:
Exp(Y698)
= Exp(a + b × X698 – 2 × s)
= Exp(a + b × 1,012 – 2 × s)
= Exp(3.7429 + -0.0008 × 1,012 – 2 × 0.0731)
= Exp(2.7679)
= $15.92
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 25.84% per annum.
- CORT price at the close of May 9, 2024 was $26.60 and was higher than the top border of the primary price channel by $15.65 (142.85%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: March 24, 2021
End date: May 9, 2024
a = 2.8986
b = 0.0002
s = 0.1190
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0002) – 1
= 7.69%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1190) – 1
= 60.93%
March 24, 2021 calculations
Top border of price channel:
Exp(Y471)
= Exp(a + b × X471 + 2 × s)
= Exp(a + b × 684 + 2 × s)
= Exp(2.8986 + 0.0002 × 684 + 2 × 0.1190)
= Exp(3.2753)
= $26.45
Bottom border of price channel:
Exp(Y471)
= Exp(a + b × X471 – 2 × s)
= Exp(a + b × 684 – 2 × s)
= Exp(2.8986 + 0.0002 × 684 – 2 × 0.1190)
= Exp(2.7995)
= $16.44
May 9, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(2.8986 + 0.0002 × 1,826 + 2 × 0.1190)
= Exp(3.5069)
= $33.35
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(2.8986 + 0.0002 × 1,826 – 2 × 0.1190)
= Exp(3.0311)
= $20.72
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 7.69% per annum.
- CORT price at the close of May 9, 2024 was inside the secondary price channel.