Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Corcept Therapeutics (CORT – Research Report) and increased the price target to $150.00 from $115.00.
Swayampakula Ramakanth has given his Buy rating due to a combination of factors, primarily driven by the promising results from Corcept Therapeutics’ Phase 3 ROSELLA study. This study evaluated the efficacy of relacorilant in combination with nab-paclitaxel for treating platinum-resistant, recurrent ovarian cancer. The therapy achieved significant improvements in progression-free survival (PFS) and overall survival (OS) compared to nab-paclitaxel alone, with relacorilant-treated patients showing a median PFS of 6.5 months and a median OS of 16.0 months.
Furthermore, the safety profile of relacorilant was favorable, with no new safety signals observed. The analyst also highlights the potential for relacorilant to receive a broader label than its competitor, Elahere, as the ROSELLA study was not limited to FRα-positive patients. Additionally, the ongoing evaluation of relacorilant in other indications, such as early-stage prostate cancer, could further expand its market potential. These factors, along with the projected revenue growth and increased probability of market launch, have led to an increased price target of $150, supporting the Buy recommendation.
According to TipRanks, Ramakanth is an analyst with an average return of -1.3% and a 31.06% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Eton Pharmaceuticals, AbSci, and Vericel.
In another report released on March 28, Piper Sandler also reiterated a Buy rating on the stock with a $78.00 price target.