Corcept Therapeutics Inc. (CORT)
NASDAQ:CORT
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Corcept Therapeutics
(NASDAQ:CORT)
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Rating:73Outperform
Price Target:
$57.00
▲(23.48% Upside)
Action:ReiteratedDate:05/04/26
The score is driven primarily by solid underlying financial quality (very low leverage, strong gross margins, and healthy cash generation) and a constructive earnings-call outlook (raised revenue guidance and meaningful clinical/regulatory catalysts). These positives are partially offset by weakening recent profitability/cash-flow momentum, technically overbought conditions, and limited valuation support given the negative P/E.
Positive Factors
Very high gross margins and conservative balance sheet
Sustained ~98% gross margins signal durable pricing power and a capital-light product model, while strong cash generation and extremely low leverage (debt-to-equity ~1%) provide runway to fund R&D, commercial launches and absorbe setbacks without risking solvency or forced financing.
Negative Factors
FDA Complete Response Letter for relacorilant in Cushing's
A CRL is a structural regulatory setback that delays or blocks expansion into a key endocrinology market, forces additional studies or safety mitigations, raises development costs and timing uncertainty, and can impair commercial momentum and physician confidence for the program.
Read all positive and negative factors
Positive Factors
Negative Factors
Very high gross margins and conservative balance sheet
Sustained ~98% gross margins signal durable pricing power and a capital-light product model, while strong cash generation and extremely low leverage (debt-to-equity ~1%) provide runway to fund R&D, commercial launches and absorbe setbacks without risking solvency or forced financing.
Read all positive factors
Corcept Therapeutics (CORT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.52B
Dividend YieldN/A
Average Volume (3M)1.68M
Price to Earnings (P/E)―
Beta (1Y)0.50
Revenue Growth12.20%
EPS Growth-64.76%
CountryUS
Employees500
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.45
Shares Outstanding107,356,690
10 Day Avg. Volume1,103,987
30 Day Avg. Volume1,684,391
Financial Highlights & Ratios
PEG Ratio-1.22
Price to Book (P/B)5.58
Price to Sales (P/S)4.75
P/FCF Ratio25.49
Enterprise Value/Market Cap0.98
Enterprise Value/Revenue7.05
Enterprise Value/Gross Profit7.17
Enterprise Value/Ebitda-798.17
Forecast
1Y Price Target
$91.00Price Target Upside97.14% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.38
Revenue Forecast (FY)$899.51M
Corcept Therapeutics Business Overview & Revenue Model
Company Description
Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily...
How the Company Makes Money
Corcept primarily makes money from product revenue generated by the sale of Korlym in the United States. Revenue is recognized from sales to customers (e.g., specialty pharmacies/wholesalers or other channels used to distribute the product) net of...
Corcept Therapeutics Key Performance Indicators (KPIs)
Any
Research & Development Expense Breakdown
Allocation of R&D spending across programs and trial stages reveals how Corcept is prioritizing its pipeline—whether cash is focused on late‑stage clinical trials that could produce near‑term approvals and revenue, or on early discovery that points to longer‑term growth. Changes in the mix and absolute R&D spend also signal the company’s cash burn and financing needs, the surface area for regulatory and clinical risk, and how management balances short‑term commercial support with long‑term drug development.
Allocation of R&D spending across programs and trial stages reveals how Corcept is prioritizing its pipeline—whether cash is focused on late‑stage clinical trials that could produce near‑term approvals and revenue, or on early discovery that points to longer‑term growth. Changes in the mix and absolute R&D spend also signal the company’s cash burn and financing needs, the surface area for regulatory and clinical risk, and how management balances short‑term commercial support with long‑term drug development.
Data provided by:
The Fly
The FlyCorcept Therapeutics Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call conveyed strong positive momentum driven by major clinical and regulatory milestones (Lifyorli FDA approval with a significant survival benefit, landmark CATALYST and MOMENTUM findings that broaden the addressable market, robust patient and prescriber growth, raised 2026 guidance, and compelling ALS and MASH data). Near-term negatives include a Q1 earnings swing to a net loss, temporary revenue headwinds from insurance reauthorizations and a pharmacy-transition backlog, and tolerability-related discontinuations in DAZALS that require mitigation. On balance, the company demonstrated durable commercial traction, an expanding pipeline with high-impact results, and clear plans to address operational issues, leading to a favorable outlook.Positive Updates
Quarterly Revenue and Raised Guidance
Revenue of $164.9 million in Q1 2026 versus $157.2 million a year earlier, an increase of approximately 4.9%. Company raised 2026 revenue guidance to $950 million–$1.05 billion.
Negative Updates
Swing to Net Loss
Net loss of $31.8 million in Q1 2026 compared with net income of $20.5 million in Q1 2025, representing a $52.3 million negative swing year-over-year.
Read all updates
Q1-2026 Updates
Positive
Negative
Quarterly Revenue and Raised Guidance
Revenue of $164.9 million in Q1 2026 versus $157.2 million a year earlier, an increase of approximately 4.9%. Company raised 2026 revenue guidance to $950 million–$1.05 billion.
Read all positive updates
Company Guidance
The company raised 2026 revenue guidance to $950 million–$1.05 billion after Q1 revenue of $164.9 million (up from $157.2 million year‑over‑year), even as Q1 net loss was $31.8 million versus prior‑year net income of $20.5 million, and cash and investments stood at $515 million at March 31; management said the endocrine business constitutes the bulk of the updated guidance and expects Cushing’s syndrome revenues to grow to at least $2 billion annually by the end of the decade while Lifyorli is expected to exceed $1 billion U.S. annual revenue by decade‑end, noting strong early commercial traction for Lifyorli (launched 36 days ago with prescriptions from over 200 physicians and a 5,000‑physician target covering ~90% of volume), clinical milestones (ROSELLA: 35% reduction in risk of death, HR 0.65, p=0.0004; DAZALS: 249‑patient trial with 84% reduction in risk of death at 1 year, p=0.0009, and 87% at 2 years, p<0.0001), ongoing readouts (BELLA arm results by year‑end, other oncology results by end of next year, MONARCH 175‑patient readout by year‑end) and plans to expand the specialty pharmacy network in Q4 to support volume growth.Corcept Therapeutics Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
90
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 769.10M | 761.41M | 675.04M | 482.38M | 401.86M | 365.98M |
| Gross Profit | 755.64M | 748.43M | 664.16M | 475.89M | 396.47M | 360.70M |
| EBITDA | -6.79M | 46.69M | 138.29M | 108.32M | 113.89M | 127.95M |
| Net Income | 47.90M | 99.65M | 139.73M | 106.14M | 101.42M | 112.51M |
Balance Sheet | ||||||
| Total Assets | 814.88M | 836.65M | 840.55M | 621.52M | 583.43M | 423.76M |
| Cash, Cash Equivalents and Short-Term Investments | 338.18M | 372.15M | 383.33M | 368.22M | 431.67M | 223.53M |
| Total Debt | 9.64M | 6.11M | 6.94M | 151.00K | 1.14M | 526.00K |
| Total Liabilities | 176.89M | 188.85M | 160.96M | 114.81M | 81.59M | 47.95M |
| Stockholders Equity | 637.99M | 647.80M | 679.59M | 506.70M | 501.84M | 375.81M |
Cash Flow | ||||||
| Free Cash Flow | 119.79M | 141.78M | 195.90M | 126.90M | 119.91M | 167.42M |
| Operating Cash Flow | 120.10M | 142.00M | 198.07M | 127.04M | 120.32M | 167.89M |
| Investing Cash Flow | 77.47M | 69.76M | -177.60M | 90.91M | -114.33M | 136.13M |
| Financing Cash Flow | -179.80M | -220.37M | -28.35M | -148.72M | -17.28M | -302.59M |
Corcept Therapeutics Technical Analysis
Neutral
46.16
Price Trends
37.87
Positive
49.65
Negative
61.92
Negative
Market Momentum
2.08
Negative
72.02
Negative
89.80
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CORT, the sentiment is Neutral. The current price of 46.16 is above the 20-day moving average (MA) of 40.56, above the 50-day MA of 37.87, and below the 200-day MA of 61.92, indicating a neutral trend. The MACD of 2.08 indicates Negative momentum. The RSI at 72.02 is Negative, neither overbought nor oversold. The STOCH value of 89.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CORT.
Corcept Therapeutics Risk Analysis
Corcept Therapeutics disclosed 29 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $5.52B | -33.73 | 15.25% | ― | 12.20% | -64.76% | |
69 Neutral | $12.72B | 12.74 | -8.82% | ― | 4.88% | -163.52% | |
61 Neutral | $4.36B | -32.35 | -29.22% | ― | 64.66% | -66.81% | |
60 Neutral | $10.56B | -49.60 | -254.14% | ― | 65.55% | 38.38% | |
58 Neutral | $29.65B | -10.38 | -63.10% | ― | ― | -65.84% | |
52 Neutral | $5.59B | -35.39 | -179.05% | ― | 45.83% | 28.70% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
CORT
Corcept Therapeutics
51.42
-22.52
-30.46%
JAZZ
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202.72
84.53
71.52%
AXSM
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206.53
90.04
77.29%
RYTM
Rhythm Pharmaceuticals
81.81
17.40
27.01%
RVMD
Revolution Medicines
139.48
99.68
250.50%
LEGN
Legend Biotech
23.59
-9.81
-29.37%
Corcept Therapeutics Corporate Events
Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Corcept Therapeutics Guides Higher on Lifyorli-Fueled Revenue Growth
Positive
Apr 30, 2026
On April 30, 2026, Corcept Therapeutics reported first quarter 2026 revenue of $164.9 million, up from $157.2 million a year earlier, but posted a net loss of $31.8 million versus prior net income as operating expenses climbed to $214.5 million on...
Business Operations and StrategyProduct-Related Announcements
Corcept Wins FDA Approval for Lifyorli Ovarian Cancer Therapy
Positive
Mar 25, 2026
On March 25, 2026, Corcept Therapeutics announced U.S. FDA approval of Lifyorli (relacorilant) in combination with nab-paclitaxel for adults with platinum-resistant epithelial ovarian, fallopian tube or primary peritoneal cancer previously treated...
Business Operations and StrategyStock BuybackFinancial Disclosures
Corcept Therapeutics Posts Strong 2025 Results, Issues Optimistic Outlook
Positive
Feb 24, 2026
On February 24, 2026, Corcept Therapeutics reported audited fourth-quarter and full-year 2025 results, with revenue rising to $202.1 million in the quarter and $761.4 million for the year, driven by stronger demand in its Cushing’s syndrome ...
Business Operations and StrategyLegal Proceedings
Corcept Faces Appellate Setback in Korlym Patent Dispute
Negative
Feb 19, 2026
On February 19, 2026, Corcept Therapeutics announced that the U.S. Court of Appeals for the Federal Circuit ruled Teva Pharmaceuticals’ marketing of a generic version of Korlym does not infringe two Corcept patents covering methods of safely...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.