Analyst Edward Nash of Canaccord Genuity maintained a Buy rating on Corcept Therapeutics (CORT – Research Report), retaining the price target of $130.00.
Edward Nash has given his Buy rating due to a combination of factors surrounding Corcept Therapeutics. One of the primary reasons is the recent acceptance of the New Drug Application (NDA) for relacorilant in Cushing’s syndrome by the FDA, which is now under standard review with a PDUFA date set for December 30, 2025. This acceptance reduces a significant risk factor and brings the drug closer to potential approval, supported by strong data from the GRACE and GRADIENT Phase III trials, as well as Phase II trials.
Additionally, Nash anticipates a positive outcome from the Phase III ROSELLA trial for relacorilant in platinum-resistant ovarian cancer, which could represent another major revenue stream for Corcept. The continued robust performance of the Korlym Cushing’s franchise, with projected 2025 revenues of $900-$950 million, further strengthens the company’s financial outlook. Nash believes that these factors, combined with the potential for relacorilant’s FDA approval and the expected growth in Korlym’s prescriber base, present a substantial opportunity for investors.
In another report released on February 27, Piper Sandler also maintained a Buy rating on the stock with a $78.00 price target.