Buy Rating for Corcept Therapeutics Based on Promising Phase III ROSELLA Study Results

Corcept Therapeutics (CORT – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Edward Nash from Canaccord Genuity maintained a Buy rating on the stock and has a $142.00 price target.

Edward Nash’s rating is based on the promising clinical data presented by Corcept Therapeutics at the ASCO Annual Meeting. The Phase III ROSELLA study demonstrated significant improvements in progression-free survival (PFS) and overall survival (OS) for patients treated with relacorilant in combination with nab-paclitaxel, compared to those receiving nab-paclitaxel alone. The study showed a 30% reduction in the risk of disease progression and a 31% reduction in the risk of death, with median OS extended by 4.5 months.
Furthermore, the objective response rate and clinical benefit rate were notably higher in the relacorilant combination group. These results suggest that relacorilant offers a meaningful therapeutic advantage for patients with platinum-resistant ovarian cancer. The data aligns well with previous successful studies, such as the MIRASOL study for Elahere, indicating a strong potential for relacorilant’s future approval and market success. Given these factors, Edward Nash has given a Buy rating for Corcept Therapeutics.

In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $131.00 price target.

CORT’s price has also changed moderately for the past six months – from $59.210 to $71.680, which is a 21.06% increase.