Swayampakula Ramakanth, an analyst from H.C. Wainwright, maintained the Buy rating on Corcept Therapeutics (CORT – Research Report). The associated price target is $80.00.
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Swayampakula Ramakanth’s rating is based on several key factors concerning Corcept Therapeutics. Primarily, the company has demonstrated consistent growth in Korlym sales over the past eight quarters, attributed to a higher identification rate and increased adoption among Cushing’s syndrome patients. This growth trajectory is supported by positive outcomes from the Phase 4 CATALYST study, highlighting a significant incidence of hypercortisolism and improvements in hemoglobin A1c levels among patients with difficult-to-control type 2 diabetes.
Moreover, there exists a substantial potential for market expansion, as a survey of endocrinologists revealed that many are not yet aware of the connection between hypercortisolism and difficult-to-treat diabetes. This presents an opportunity for Corcept to enhance awareness through scientific dissemination of the CATALYST data. If successful, these efforts could unlock a new revenue stream estimated at $400M to $500M annually. Additionally, the anticipated regulatory decision regarding relacorilant could further bolster market adoption due to its improved safety profile, thereby reinforcing Corcept’s long-term growth prospects.
In another report released on January 30, Canaccord Genuity also maintained a Buy rating on the stock with a $130.00 price target.