Corcept Therapeutics price target lowered to $60 from $67 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Corcept Therapeutics (CORT) to $60 from $67 and keeps a Buy rating on the shares. FDA approval of Lifyorli came nearly four months earlier than expected, the analyst tells investors in a research note. The firm says the approval validates its thesis that cortisol modulation can be a viable mechanism of action in treating patients with cancer. Lifyorli represents the first commercial oncology product allowing Corcept to diversify beyond Korlym, contends H.C. Wainwright.