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Corcept Therapeutics Inc. (CORT)
NASDAQ:CORT
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Corcept Therapeutics
(NASDAQ:CORT)
74Outperform
Positive Factors
FDA Approval Process
The FDA has accepted the NDA submission for relacorilant in Cushing's for filing, moving it one step closer to approval.
Market Opportunities
Expectations are high for a positive Phase III readout from ROSELLA in platinum-resistant ovarian cancer, potentially creating a second blockbuster opportunity for Corcept.
Negative Factors
Operational Challenges
The 4Q24 revenue for Korlym experienced a slight decrease due to operational challenges with the company's pharmacy partner.
Corcept Therapeutics (CORT) vs. S&P 500 (SPY)
Market Cap
$5.85B
Dividend YieldN/A
Average Volume (3M)1.18M
Price to Earnings (P/E)44.6
Beta (1Y)1.12
Revenue Growth39.94%
EPS Growth32.10%
CountryUS
Employees500
SectorHealthcare
Sector Strength78
IndustryBiotechnology
Share Statistics
EPS (TTM)1.23
Shares Outstanding105,503,430
10 Day Avg. Volume1,518,445
30 Day Avg. Volume1,178,095
Financial Highlights & Ratios
PEG Ratio1.39
Price to Book (P/B)N/A
Price to Sales (P/S)8.66
Price to Cash Flow (P/CF)24.70
P/FCF Ratio24.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$109.50Price Target Upside99.64% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
Corcept Therapeutics Business Overview & Revenue Model
Company DescriptionCorcept Therapeutics (CORT) is a pharmaceutical company specializing in the development and commercialization of drugs that modulate the effects of cortisol. The company's primary focus is on developing treatments for severe metabolic, oncologic, and psychiatric disorders. Its flagship product, Korlym, is approved for the control of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome.
How the Company Makes MoneyCorcept Therapeutics generates revenue primarily through the sales of its FDA-approved medication, Korlym. The company targets patients with Cushing's syndrome, a condition characterized by excessive cortisol levels, providing a niche market for its product. Revenue is generated through direct sales to specialty pharmacies and distributors that supply healthcare providers and patients. Additionally, the company invests in research and development to expand its product offerings and potentially introduce new medications to market, which could diversify and increase its revenue streams in the future. Corcept's partnerships with research institutions and healthcare organizations also contribute to its development pipeline, although these are not primary revenue sources.
Corcept Therapeutics Financial Statement Overview
Summary
Corcept Therapeutics demonstrates strong profitability with consistent revenue growth, a high gross profit margin, and improved net profit margin. The balance sheet is solid with a low debt-to-equity ratio and impressive ROE. Cash flow from operations is positive, supporting free cash flow growth, despite some variability in financing and investing activities.Income Statement
Corcept Therapeutics demonstrates strong profitability with a consistent revenue growth trend. Over the years, their gross profit margin remains high, indicating efficient cost management. The net profit margin has improved, showcasing enhanced profitability. The revenue growth rate is robust, reflecting a successful business expansion and market presence. EBIT and EBITDA margins are stable, further indicating healthy operational efficiency.87
Very Positive
Balance Sheet
The company maintains a strong balance sheet with a low debt-to-equity ratio, indicating minimal leverage risk. Return on Equity (ROE) is impressive, reflecting effective management of shareholder funds. The equity ratio is high, signifying strong balance sheet stability. Overall, the firm is well-capitalized with a solid equity base and low liabilities.90
Very Positive
Cash Flow
Corcept Therapeutics displays consistent positive cash flow from operations, supporting its free cash flow growth. The operating cash flow to net income ratio is healthy, demonstrating a strong conversion of income to cash. The free cash flow to net income ratio also reflects efficient cash management, although there is some variability in cash flow from financing and investing activities.83
Very Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 675.04M | 482.38M | 401.86M | 365.98M | 353.87M | Gross Profit |
| 664.16M | 475.89M | 396.47M | 360.70M | 348.29M | EBIT |
| 136.95M | 107.28M | 112.63M | 124.48M | 128.20M | EBITDA |
| 136.95M | 108.32M | 112.63M | 124.48M | 130.44M | Net Income Common Stockholders |
| 139.73M | 106.14M | 101.42M | 112.51M | 106.01M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 383.33M | 368.22M | 436.62M | 335.81M | 476.89M | Total Assets |
| 840.55M | 621.52M | 583.43M | 423.76M | 571.73M | Total Debt |
| 6.94M | 151.00K | 1.14M | 526.00K | 2.55M | Net Debt |
| -120.73M | -135.40M | -435.48M | -335.29M | -474.34M | Total Liabilities |
| 160.96M | 114.81M | 81.59M | 47.95M | 48.39M | Stockholders Equity |
| 679.59M | 506.70M | 501.84M | 375.81M | 523.34M |
| Cash Flow | Free Cash Flow | |||
| 195.90M | 126.90M | 119.91M | 167.42M | 150.73M | Operating Cash Flow |
| 198.07M | 127.04M | 120.32M | 167.89M | 151.97M | Investing Cash Flow |
| -177.60M | 90.91M | -114.33M | 136.13M | -119.26M | Financing Cash Flow |
| -28.35M | -148.72M | -17.28M | -302.59M | 12.21M |
Corcept Therapeutics Technical Analysis
Negative
54.85
Price Trends
60.16
Negative
57.11
Negative
46.42
Positive
Market Momentum
-2.38
Positive
36.49
Neutral
26.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CORT, the sentiment is Negative. The current price of 54.85 is below the 20-day moving average (MA) of 61.49, below the 50-day MA of 60.16, and above the 200-day MA of 46.42, indicating a neutral trend. The MACD of -2.38 indicates Positive momentum. The RSI at 36.49 is Neutral, neither overbought nor oversold. The STOCH value of 26.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CORT.
Corcept Therapeutics Risk Analysis
Corcept Therapeutics disclosed 27 risk factors in its most recent earnings report. Corcept Therapeutics reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Corcept Therapeutics Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $171.31B | 42.18 | 67.55% | 2.92% | 18.64% | -39.39% | |
74 Outperform | $5.85B | 44.60 | 23.55% | ― | 39.94% | 32.10% | |
68 Neutral | $10.69B | 33.14 | 14.16% | ― | 24.81% | 33.67% | |
64 Neutral | $125.40B | ― | -3.15% | ― | 11.64% | -114.72% | |
54 Neutral | $3.55B | ― | -214.50% | ― | 29.01% | 23.93% | |
49 Neutral | $6.84B | 0.05 | -53.14% | 2.48% | 24.49% | -3.26% | |
46 Neutral | $454.96M | ― | -63.37% | ― | -52.30% | 27.13% |
* Healthcare Sector Average
Performance Comparison
CORT
Corcept Therapeutics
54.85
31.18
131.73%
AMGN
Amgen
312.64
49.13
18.64%
NBIX
Neurocrine
108.99
-30.17
-21.68%
VRTX
Vertex Pharmaceuticals
502.92
94.15
23.03%
RARE
Ultragenyx Pharmaceutical
39.25
-7.40
-15.86%
SAGE
SAGE Therapeutics
7.85
-11.96
-60.37%
Corcept Therapeutics Earnings Call Summary
Earnings Call Date: Feb 26, 2025 | % Change Since: -13.44% | Next Earnings Date: Apr 30, 2025
Earnings Call Sentiment Positive
Corcept Therapeutics demonstrated strong financial performance with significant revenue and net income growth. The company made substantial progress in drug development, notably with relacorilant for hypercortisolism and potential cancer treatments. However, they faced operational challenges affecting revenue and a legal setback with Teva. Despite these issues, the overall outlook remains positive due to strategic advancements and strong financials.Highlights
Record Revenue Growth
Corcept Therapeutics reported 2024 revenue of $675 million, marking a 40% increase compared to the previous year. They expect continued growth with 2025 revenue guidance of $900 million to $950 million.
Strong Net Income Performance
Net income for 2024 was $141 million, representing a 33% increase compared to the prior year.
Successful Stock Repurchase
The company acquired $38 million of its common stock as part of its stock repurchase program.
Promising Drug Development
Corcept submitted a new drug application for relacorilant, with promising results from GRACE, GRADIENT, and Phase II studies showing statistically significant improvements in patient outcomes.
Positive CATALYST Study Results
The CATALYST study showed that 1 in 4 patients with difficult to control type 2 diabetes has hypercortisolism. Patients receiving Korlym exhibited a significant reduction in hemoglobin A1c compared to placebo.
Strategic Advancements in Cancer Treatment
Corcept is conducting the ROSELLA study to evaluate relacorilant’s potential in treating platinum-resistant ovarian cancer, with positive Phase II trial results suggesting improved progression-free survival.
Strong Financial Position
Corcept ended 2024 with $603 million in cash and investments, compared to $425 million at the end of the previous year.
Lowlights
Operational Challenges in Prescription Fulfillment
The pharmacy partner faced operational challenges due to a significant increase in prescriptions, which impacted Q4 revenue.
Legal Setback with Teva
Corcept's lawsuit against Teva was ruled against by the trial court, and the decision is currently under appeal.
Disappointing ALS Trial Results
The Phase II trial of dazucorilant for ALS did not show improvement in the primary endpoint, though there was a statistically significant improvement in patient survival.
Company Guidance
During the Corcept Therapeutics conference call, the company provided guidance for 2025, projecting revenue between $900 million and $950 million, reflecting continued growth following a 40% increase in 2024 revenue to $675 million. Net income rose by 33% to $141 million in 2024. The company also highlighted its robust cash and investments, which totaled $603 million at the end of 2024, up from $425 million the previous year. Additionally, Corcept repurchased $38 million of its common stock during 2024. The call also discussed the potential market impact of their drug relacorilant and ongoing legal proceedings with Teva related to patent issues.Corcept Therapeutics Corporate Events
Business Operations and StrategyFinancial Disclosures
Corcept Therapeutics Reports Strong 2024 Financial Results
Positive
Feb 26, 2025
On February 26, 2025, Corcept Therapeutics announced its financial results for the fourth quarter and full year 2024, reporting a 40% increase in revenue to $675 million and a 33% rise in net income to $141.2 million compared to 2023. The company highlighted significant progress in its clinical development programs, including the submission of a New Drug Application for relacorilant for hypercortisolism and promising results from various studies, positioning relacorilant as a potential new standard of care. The announcement underscores Corcept’s strong financial performance and strategic advancements in its clinical pipeline, which could enhance its market position and impact stakeholders positively.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.