Ashwani Verma, an analyst from UBS, has initiated a new Hold rating on Corcept Therapeutics (CORT).
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Ashwani Verma has given his Hold rating due to a combination of factors related to Corcept Therapeutics’ current market position and future growth prospects. The stock has already experienced a significant increase, and the anticipated growth in hypercortisolism and ovarian cancer treatments seems to be reflected in the current stock price. Verma’s projections for sales of Korlym and relacorilant are lower than the consensus, suggesting limited upside potential.
In the hypercortisolism segment, while relacorilant is expected to gain FDA approval, the growth in patient numbers is projected to be modest. Additionally, the transition to a new specialty pharmacy partner poses distribution challenges. For ovarian cancer, despite potential approval, the opportunity is constrained by mixed clinical data and rising competition. The valuation of $95 per share is based on a sales multiple consistent with industry peers, indicating a balanced risk-reward scenario.
According to TipRanks, Verma is a 4-star analyst with an average return of 13.0% and a 59.83% success rate. Verma covers the Healthcare sector, focusing on stocks such as Insmed, Exelixis, and United Therapeutics.
In another report released on December 7, TR | OpenAI – 4o also downgraded the stock to a Hold with a $95.00 price target.