Corcept Therapeutics (CORT) AI Stock Analysis

• Market Cap: $3.84B
• Dividend Yield: N/A
• Average Volume (3M): 2.04M
• Price to Earnings (P/E): 41.7
• Beta (1Y): 0.47
• Revenue Growth: 17.92%
• EPS Growth: -26.13%
• Country: US
• Employees: 500
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 0.20
• Shares Outstanding: 105,188,220
• 10 Day Avg. Volume: 2,114,272
• 30 Day Avg. Volume: 2,035,061
• PEG Ratio: -1.24
• Price to Book (P/B): 5.58
• Price to Sales (P/S): 4.75
• P/FCF Ratio: 25.49
• Enterprise Value/Market Cap: 0.97
• Enterprise Value/Revenue: 5.02
• Enterprise Value/Gross Profit: 5.11
• Enterprise Value/Ebitda: 51.31
• 1Y Price Target: $94.00
• Price Target Upside: 157.68% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: $40.00 ▲(9.65% Upside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is supported by strong financial quality (rapid revenue growth, very high gross margins, and a low-debt balance sheet) and a generally constructive earnings outlook with meaningful pipeline catalysts. It is constrained by clearly bearish technicals (price far below key moving averages with negative MACD), premium valuation (P/E ~41.7), and elevated regulatory/legal risks highlighted on the earnings call (CRL and patent ruling) alongside 2025 margin and cash-flow softening.

Positive Factors

Revenue Growth & High Gross Margins

Sustained top-line growth with exceptionally high gross margins indicates durable demand and strong unit economics for Korlym. High margins support cash generation and reinvestment in trials and commercialization, giving the company long-term funding flexibility even amid episodic pressures.

Conservative Balance Sheet & Cash

A low-leverage balance sheet and a sizeable cash position provide financial flexibility to fund ongoing trials, regulatory interactions, and operational scaling. The ability to repurchase shares while retaining cash suggests capital allocation discipline and a buffer against execution or regulatory delays.

Robust Clinical Proof and Upcoming Catalysts

Positive pivotal data in ROSELLA is a structural value driver: a clear survival benefit strengthens relacorilant's regulatory case in oncology and supports label expansion. Multiple additional mid/late-stage readouts through 2027 create durable catalyst cadence and potential new revenue streams beyond Korlym.

Negative Factors

FDA Complete Response Letter for Relacorilant

The CRL introduces structural regulatory uncertainty and likely requires additional clinical or safety data, delaying U.S. commercialization for a meaningful indication. Protracted regulatory review increases development costs and pushes out revenue diversification timelines for relacorilant.

Appellate Setback in Korlym Patent Case

The adverse appellate ruling raises the prospect of generic entry or broader generic access, which would structurally erode Korlym's revenue base. As Korlym is the flagship revenue driver, weakened exclusivity increases long-term sales risk and heightens the importance of successful pipeline commercialization.

Profitability Compression & Weaker Cash Conversion

Material decline in net margin and weaker operating cash conversion signals rising operating costs or timing headwinds. If margins and cash conversion remain depressed, the company will face reduced internal funding for trials and commercialization, increasing dependency on external capital or more aggressive allocation tradeoffs.

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 oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery. It is developing relacorilant to treat patients with Cushing's syndrome; and nab-paclitaxel in combination with relacorilant, which has completed Phase II clinical trial to treat patients with advanced ovarian tumors, as well as for the treatment of cortisol excess. The company is also developing selective cortisol modulator to treat patients with metastatic castration-resistant prostate cancer; selective cortisol modulator for the treatment of antipsychotic-induced weight gain and other disorders; and FKBP5 gene expression assays. Corcept Therapeutics Incorporated was incorporated in 1998 and is headquartered in Menlo Park, California.

How the Company Makes Money

Corcept Therapeutics generates revenue primarily through the sale of its flagship product, Korlym, which is prescribed for patients with Cushing's syndrome. The company also engages in research collaborations and partnerships that may provide additional funding and resources for the development of new therapies. Revenue is driven by both direct sales to healthcare providers and reimbursement from insurance companies. Additionally, Corcept's focus on expanding the indications for its existing products and developing new treatments contributes to its potential revenue growth, as successful clinical trials can lead to new market opportunities.

Corcept Therapeutics Financial Statement Overview

Summary

Strong top-line growth (2025 revenue $761M vs $675M) and exceptionally high gross margins (~98%+) support quality, and the balance sheet is very conservative (debt-to-equity ~0.9%) with sizable equity. Offsetting this, 2025 profitability compressed materially (net margin ~12.9% vs ~20.7% in 2024) and free cash flow fell year-over-year with weaker cash conversion (OCF ~0.85x net income).

Income Statement

Revenue has grown strongly over the period, accelerating in 2025 (annual revenue up from $675M to $761M), supporting a solid growth profile. Profitability remains positive with very high gross margins (~98%+), but operating and net profitability have compressed meaningfully versus 2021–2024 (net margin down to ~12.9% in 2025 from ~20.7% in 2024), indicating higher operating costs and/or elevated expenses weighing on earnings power.

Balance Sheet

The balance sheet is conservatively positioned with minimal leverage (debt-to-equity ~0.9% in 2025) and a large equity base (~$648M) supporting financial flexibility. Returns on equity are healthy (mid-teens in 2025) but have trended down from the low-20% range in 2022–2024, consistent with the recent profitability compression.

Cash Flow

Cash generation is solid with operating cash flow of ~$142M and free cash flow of ~$142M in 2025, and free cash flow closely tracks net income (near 1.0x), suggesting good earnings quality. However, cash flow has weakened year-over-year (free cash flow down ~12.8% in 2025) and operating cash flow no longer fully covers net income in 2025 (~0.85x), pointing to some working-capital or timing headwinds versus prior years.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	741.17M	761.41M	675.04M	482.38M	401.86M	365.98M
Gross Profit	727.78M	748.43M	664.16M	475.89M	396.47M	360.70M
EBITDA	72.46M	68.35M	138.29M	108.32M	113.89M	127.95M
Net Income	105.19M	98.17M	139.73M	106.14M	101.42M	112.51M
Balance Sheet
Total Assets	823.61M	836.65M	840.55M	621.52M	583.43M	423.76M
Cash, Cash Equivalents and Short-Term Investments	421.68M	372.15M	383.33M	368.22M	431.67M	223.53M
Total Debt	6.36M	6.11M	6.94M	151.00K	1.14M	526.00K
Total Liabilities	191.71M	188.85M	160.96M	114.81M	81.59M	47.95M
Stockholders Equity	631.90M	647.80M	679.59M	506.70M	501.84M	375.81M
Cash Flow
Free Cash Flow	162.57M	141.78M	195.90M	126.90M	119.91M	167.42M
Operating Cash Flow	162.85M	142.00M	198.07M	127.04M	120.32M	167.89M
Investing Cash Flow	17.24M	69.76M	-177.60M	90.91M	-114.33M	136.13M
Financing Cash Flow	-193.71M	-220.37M	-28.35M	-148.72M	-17.28M	-302.59M

Corcept Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 36.48
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 36.48 is below the 20-day moving average (MA) of 39.95, below the 50-day MA of 50.23, and below the 200-day MA of 68.46, indicating a bearish trend. The MACD of -3.28 indicates Negative momentum. The RSI at 38.02 is Neutral, neither overbought nor oversold. The STOCH value of 53.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CORT.

Corcept Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JAZZ	73 Outperform	$10.56B	-28.64	-9.06%	―	4.14%	-179.96%
CORT	67 Neutral	$3.84B	41.68	16.47%	―	17.92%	-26.13%
RVMD	55 Neutral	$20.27B	-20.23	-60.76%	―	-100.00%	-44.24%
RYTM	53 Neutral	$6.58B	-31.79	-240.36%	―	54.92%	28.47%
AXSM	52 Neutral	$8.69B	-46.00	-275.50%	―	65.83%	28.50%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
LEGN	50 Neutral	$3.60B	-14.93	-22.60%	―	74.91%	31.54%

Corcept Therapeutics Corporate Events

Corcept Therapeutics Posts Strong 2025 Results, Issues Optimistic Outlook

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 despite supply and pharmacy transition constraints. Full-year 2025 net income declined to $99.7 million from $141.2 million in 2024, cash and investments fell to $532.4 million as the company spent $245.9 million on share repurchases, and management issued 2026 revenue guidance of $900 million to $1 billion, signaling confidence in long-term growth.

The company highlighted significant clinical and regulatory momentum, including ongoing engagement with the FDA following a Complete Response Letter for relacorilant in Cushing’s syndrome and active review of its NDA for relacorilant plus nab-paclitaxel in platinum-resistant ovarian cancer, supported by Phase 3 ROSELLA data showing a 35 percent reduction in risk of death. Across oncology, MASH and ALS, Corcept is advancing multiple mid- and late-stage trials — including the MONARCH Phase 2b MASH study, BELLA and other solid tumor programs, and a planned Phase 3 dazucorilant ALS trial — positioning the company for potential new indications that could broaden its revenue base and reinforce its standing in cortisol-modulating therapies.

The most recent analyst rating on (CORT) stock is a Buy with a $67.00 price target. To see the full list of analyst forecasts on Corcept Therapeutics stock, see the CORT Stock Forecast page.

Corcept Faces Appellate Setback in Korlym Patent Dispute

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 co-administering Korlym with CYP3A4-inhibiting drugs commonly used by patients with Cushing’s syndrome. The decision upholds a December 2023 verdict from the Federal District Court for the District of New Jersey, potentially clearing a key legal hurdle for Teva’s generic Korlym product and raising competitive and revenue implications for Corcept’s flagship hypercortisolism therapy.

Corcept’s chief executive officer, Joseph K. Belanoff, M.D., expressed disappointment with the ruling, emphasizing that the asserted patents protect treatment methods relied on daily by physicians treating Cushing’s syndrome. He stated that the company will vigorously defend its intellectual property rights and is evaluating options for further judicial review, signaling an ongoing legal strategy as Corcept seeks to protect market exclusivity and manage the impact of generic competition on its Korlym franchise.

The most recent analyst rating on (CORT) stock is a Buy with a $100.00 price target. To see the full list of analyst forecasts on Corcept Therapeutics stock, see the CORT Stock Forecast page.

Corcept Therapeutics Phase 3 ROSELLA Trial Achieves Survival Benefit

On January 22, 2026, Corcept Therapeutics reported that its pivotal Phase 3 ROSELLA trial of relacorilant plus nab-paclitaxel in patients with platinum-resistant ovarian cancer met its overall survival primary endpoint, with the combination reducing the risk of death by 35% versus nab-paclitaxel alone and extending median overall survival to 16.0 months from 11.9 months, without adding safety burden compared with chemotherapy alone. The trial, which previously met its progression-free survival primary endpoint and enrolled 381 patients across multiple regions, strengthens relacorilant’s clinical profile as an oral, biomarker-agnostic therapy that could reshape the treatment landscape for platinum-resistant ovarian cancer and supports Corcept’s ongoing regulatory reviews in the U.S. and Europe, as well as its broader development strategy for relacorilant and other cortisol modulators in solid tumors and hypercortisolism.

The most recent analyst rating on (CORT) stock is a Buy with a $90.00 price target. To see the full list of analyst forecasts on Corcept Therapeutics stock, see the CORT Stock Forecast page.

Corcept Therapeutics Faces FDA Setback for Relacorilant Approval

On December 31, 2025, Corcept Therapeutics announced that the U.S. Food and Drug Administration issued a Complete Response Letter for its New Drug Application seeking approval of relacorilant to treat patients with hypertension secondary to hypercortisolism, despite the agency acknowledging that the pivotal GRACE trial met its primary endpoint and that the GRADIENT trial provided confirmatory evidence. The FDA concluded it could not yet make a favorable benefit-risk assessment without additional evidence of effectiveness, a setback that delays U.S. commercialization of relacorilant in hypercortisolism even as the company continues to advance the drug for other indications, including platinum-resistant ovarian cancer, where it has an FDA PDUFA decision date set for July 11, 2026 and a marketing application under review in Europe.

The most recent analyst rating on (CORT) stock is a Hold with a $95.00 price target. To see the full list of analyst forecasts on Corcept Therapeutics stock, see the CORT Stock Forecast page.