Buy Recommendation for Corcept Therapeutics Driven by Promising Phase 3 ROSELLA Study Results and Market Expansion Potential

Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Corcept Therapeutics (CORT – Research Report) and increased the price target to $150.00 from $115.00.

Swayampakula Ramakanth’s rating is based on the promising results from Corcept Therapeutics’ Phase 3 ROSELLA study, which evaluated relacorilant in combination with nab-paclitaxel for treating platinum-resistant ovarian cancer. The study achieved its primary endpoint with a significant improvement in progression-free survival (PFS) and overall survival (OS) compared to nab-paclitaxel alone, indicating a strong therapeutic potential.
Additionally, relacorilant’s favorable safety profile and potential for a broader label than its competitors contribute to the positive outlook. The ongoing evaluation of relacorilant in other indications, such as early-stage prostate cancer, could further expand its market. The increased probability of market launch and projected revenue growth for relacorilant in ovarian cancer support the raised price target, reinforcing the Buy recommendation.

In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $142.00 price target.