Corcept Therapeutics price target raised to $150 from $76 at Truist

Truist analyst Joon Lee raised the firm’s price target on Corcept Therapeutics (CORT) to $150 from $76 and keeps a Buy rating on the shares. The stock in morning trading is up 85%, or $46.48, to $101.11. The company this morning reported positive Phase 3 ROSELLA data, with positive progression free survival and overall survival which looks competitive to that of Elahere’s most recent data, the analyst tells investors in a research note. The firm says Corcept plans to submit a new drug application in Q3 with likely approval and launch in 2026 or 2027. It models peak sales of $800M in 2035. Relacorilant’s broader opportunity in other solid tumors represent upsides not captured in the model, Truist adds. The drug’s “long durability” of intellectual property into the 2040s “gives us more reasons to be constructive,” the firm adds.