Corcept Therapeutics (CORT)
NASDAQ:CORT
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Corcept Therapeutics
(NASDAQ:CORT)
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Rating:73Outperform
Price Target:
$92.00
▲(99.31% Upside)
Action:Reiterated
Date:06/03/26
The score is driven by strong financial resilience (notably the very low-debt balance sheet and solid cash generation) and a favorable earnings-call outlook with raised revenue guidance and significant clinical/regulatory momentum. These positives are partially offset by elevated valuation (very high P/E), recent profitability compression, and technically overbought conditions that increase near-term volatility risk.
Positive Factors
Balance Sheet Strength
Corcept's large cash balance and extremely low leverage provide durable financial flexibility to fund Lifyorli's launch, expand specialty pharmacy capacity, and support multiple late-stage trials without immediate capital raises. That runway cushions operating swings and underpins multi‑quarter execution.
Negative Factors
Profitability Compression
Rising operating costs from product launches and commercialization investments have materially compressed margins and produced a near‑term net loss. If elevated spending persists without commensurate revenue catch‑up, cash generation and return metrics could remain pressured over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Corcept's large cash balance and extremely low leverage provide durable financial flexibility to fund Lifyorli's launch, expand specialty pharmacy capacity, and support multiple late-stage trials without immediate capital raises. That runway cushions operating swings and underpins multi‑quarter execution.
Read all positive factors
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.
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The Fly
The FlyCorcept Therapeutics (CORT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.90B
Dividend YieldN/A
Average Volume (3M)1.19M
Price to Earnings (P/E)180.8
Beta (1Y)0.47
Revenue Growth12.20%
EPS Growth-64.76%
CountryUS
Employees500
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.45
Shares Outstanding107,351,590
10 Day Avg. Volume974,108
30 Day Avg. Volume1,188,074
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 Cap0.83
Enterprise Value/Revenue9.57
Enterprise Value/Gross Profit9.74
Enterprise Value/Ebitda542.91
Forecast
1Y Price Target
$97.50Price Target Upside111.22% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.59
Revenue Forecast (FY)$976.58M
Corcept Therapeutics Business Overview & Revenue Model
Company Description
Corcept Therapeutics Incorporated, founded in 1998 and headquartered in Menlo Park, California, is a pharmaceutical firm dedicated to the discovery, development, and commercialization of treatments for serious metabolic, oncological, and neuropsyc...
How the Company Makes Money
Corcept primarily makes money by selling its FDA-approved product Korlym (mifepristone) in the United States. Revenue is generated from product sales to customers in the pharmaceutical distribution channel (e.g., specialty pharmacy and/or wholesal...
Corcept 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 | 13.56M | 68.35M | 162.83M | 125.60M | 117.45M | 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
Positive
46.16
Price Trends
55.70
Positive
46.72
Positive
59.72
Positive
Market Momentum
7.53
Negative
85.62
Negative
85.05
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CORT, the sentiment is Positive. The current price of 46.16 is below the 20-day moving average (MA) of 68.52, below the 50-day MA of 55.70, and below the 200-day MA of 59.72, indicating a bullish trend. The MACD of 7.53 indicates Negative momentum. The RSI at 85.62 is Negative, neither overbought nor oversold. The STOCH value of 85.05 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | $8.90B | 180.75 | 7.50% | ― | 12.20% | -64.76% | |
72 Outperform | $14.48B | 483.90 | 0.71% | ― | 9.20% | -94.01% | |
62 Neutral | $32.71B | -22.22 | -83.22% | ― | ― | -76.93% | |
61 Neutral | $6.66B | -26.49 | -24.91% | ― | 56.70% | -13.77% | |
60 Neutral | $13.13B | -69.38 | -260.01% | ― | 63.88% | 35.18% | |
52 Neutral | $6.06B | -29.64 | -203.25% | ― | 58.67% | -11.45% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
CORT
Corcept Therapeutics
82.91
12.01
16.94%
JAZZ
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230.56
120.92
110.29%
AXSM
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255.17
153.48
150.93%
RYTM
Rhythm Pharmaceuticals
88.38
25.99
41.66%
RVMD
Revolution Medicines
153.87
114.10
286.90%
LEGN
Legend Biotech
35.87
0.03
0.08%
Corcept Therapeutics Corporate Events
Legal Proceedings
Corcept Faces Amended Qui Tam Complaint After DOJ Exit
Negative
Jun 3, 2026
On May 19, 2026, Corcept Therapeutics learned that the U.S. Department of Justice had filed a Notice of Election to Decline Intervention in a civil qui tam action brought in 2017 by a former employee in the District of New Jersey. The case involve...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Corcept stockholders approve expanded incentive plan and board
Positive
May 28, 2026
On May 21, 2026, Corcept Therapeutics held its 2026 Annual Meeting of Stockholders, where shareholders approved an amendment to the company’s 2024 Incentive Award Plan, increasing the share pool by 8,000,000 and updating plan language, with ...
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...
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.