Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Corcept Therapeutics (CORT – Research Report) and decreased the price target to $145.00 from $150.00.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors that highlight Corcept Therapeutics’ strong potential for future growth. Despite a recent revenue miss attributed to pharmacy vendor capacity issues, the company maintains a positive outlook with a robust revenue guidance for 2025, driven by the growth in prescribing physicians and patient numbers. The transition of Korlym to an authorized generic has impacted pricing, but management remains confident in overcoming these challenges.
Furthermore, the promising developments in Corcept’s pipeline, particularly with relacorilant, bolster the Buy recommendation. The drug is progressing well in clinical trials for hypercortisolism and ovarian cancer, with significant milestones expected in the coming years. Additionally, while dazucorilant did not meet its primary endpoint in an ALS study, exploratory analyses suggest potential benefits, prompting further investigation. These factors collectively support a positive long-term outlook for Corcept Therapeutics.
In another report released on April 30, Canaccord Genuity also maintained a Buy rating on the stock with a $142.00 price target.