Canaccord Genuity analyst Edward Nash has maintained their bullish stance on CORT stock, giving a Buy rating yesterday.
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Edward Nash’s rating is based on a combination of factors that highlight Corcept Therapeutics’ potential for growth despite recent setbacks. The company experienced a weaker first quarter due to packaging and shipping issues, but management has resolved these problems and expects strong performance in the subsequent quarters. This temporary weakness presents a buying opportunity as Corcept’s Korlym product is anticipated to see continued demand and revenue growth.
Additionally, Corcept’s expansion into oncology, particularly with the upcoming NDA filing for relacorilant in platinum-resistant ovarian cancer, is seen as a promising development. The drug’s potential approval and effectiveness could position it as a blockbuster, further enhancing Corcept’s market opportunities. Moreover, recent positive survival data from the ALS trial suggests a revival of this indication, which could add significant value to the company. These factors collectively contribute to Nash’s Buy rating for Corcept Therapeutics.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $145.00 price target.
CORT’s price has also changed moderately for the past six months – from $54.230 to $70.740, which is a 30.44% increase.