Corcept Therapeutics (CORT)
NASDAQ:CORT
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Corcept Therapeutics
(NASDAQ:CORT)
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Rating:70Outperform
Price Target:
$47.00
▲(11.24% Upside)
Action:ReiteratedDate:03/26/26
The score is driven primarily by strong underlying financial quality (high margins, growth, and minimal leverage) and supportive earnings-call outlook (higher 2026 guidance and meaningful clinical progress). These positives are tempered by mixed technicals (short-term rebound but still below longer-term trend) and a relatively expensive valuation, alongside regulatory and legal risks highlighted on the call.
Positive Factors
FDA approval of Lifyorli (relacorilant)
FDA approval converts relacorilant from a clinical asset to a commercial oncology product, creating a durable new revenue stream and de‑risking clinical outcomes. Approval supports broader commercialization, reimbursement discussions, and international filings, materially diversifying Corcept's revenue beyond Korlym.
Negative Factors
Appellate loss vs Teva enabling generic risk
A binding appellate decision that favors Teva materially increases the risk of generic entry and sustained price erosion for Korlym. Given Korlym's outsized role in revenue, prolonged generic competition would structurally pressure top‑line durability and require reallocation of commercial investments.
Read all positive and negative factors
Positive Factors
Negative Factors
FDA approval of Lifyorli (relacorilant)
FDA approval converts relacorilant from a clinical asset to a commercial oncology product, creating a durable new revenue stream and de‑risking clinical outcomes. Approval supports broader commercialization, reimbursement discussions, and international filings, materially diversifying Corcept's revenue beyond Korlym.
Read all positive factors
Corcept Therapeutics (CORT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.49B
Dividend YieldN/A
Average Volume (3M)1.75M
Price to Earnings (P/E)36.3
Beta (1Y)0.48
Revenue Growth17.92%
EPS Growth-26.13%
CountryUS
Employees500
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.20
Shares Outstanding106,374,020
10 Day Avg. Volume1,543,462
30 Day Avg. Volume1,745,779
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 Cap0.97
Enterprise Value/Revenue5.75
Enterprise Value/Gross Profit5.85
Enterprise Value/Ebitda76.66
Forecast
1Y Price Target
$81.00Price Target Upside91.72% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.38
Revenue Forecast (FY)$899.55M
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:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Neutral
The call presented a mix of strong commercial momentum, robust clinical successes across multiple programs (notably ROSELLA and DAZALS), clear revenue growth and higher guidance, and resolved operational capacity with an improving commercial outlook. These positives are tempered by a significant regulatory setback for relacorilant in Cushing's syndrome, a Federal Circuit loss in the generic patent dispute, meaningful net income decline, and prior pharmacy-related supply disruptions. The pipeline and upcoming readouts provide multiple near-term catalysts, while regulatory and legal risks require attention.Positive Updates
Revenue Growth and 2026 Guidance
Full-year 2025 revenue was $761 million, up from $675 million in 2024 (≈+12.8%). Company provided 2026 revenue guidance of $900 million to $1 billion.
Negative Updates
FDA Complete Response Letter for Relacorilant in Cushing's Syndrome
FDA declined approval for relacorilant in Cushing's syndrome despite GRACE meeting its primary endpoint (p=0.02); cited liver enzyme elevations among issues. Company plans an April meeting with FDA to determine next steps (resubmission, appeal, or new study).
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue Growth and 2026 Guidance
Full-year 2025 revenue was $761 million, up from $675 million in 2024 (≈+12.8%). Company provided 2026 revenue guidance of $900 million to $1 billion.
Read all positive updates
Company Guidance
Management guided 2026 revenue of $900 million to $1.0 billion (2025 revenue was $761M vs $675M in 2024), said most of the guide is driven by the Cushing’s business (oncology is a small portion), and reported 2025 net income of $99.7M and cash & investments of $532M (after $245M of stock repurchases in 2025). Commercial metrics: tablets delivered +37% vs 2024 while new prescriptions were +61% (tablet growth was constrained by a pharmacy transition), about 75% of volume ended the year flowing through the AG at roughly a 30% discount to WAC (about 78% currently), and February was on track for a monthly record of new patient starts. Clinical/regulatory milestones and trial metrics cited include a relacorilant oncology PDUFA of July 11; ROSELLA OS hazard ratio 0.65 (35% reduction in risk of death, p=0.0004) with median OS +4.1 months (75th‑percentile +8 months); GRACE primary endpoint p=0.02; CATALYST screened 1,000 patients (24% had hypercortisolism), randomized 136 with Korlym showing −1.47% HbA1c vs −0.17% placebo at 24 weeks; DAZALS (n=249) reported an 84% reduction in risk of death at 300 mg (p=0.0009); MONARCH Phase IIb (n=175) is fully enrolled with results by year‑end; and management reiterated a longer‑term objective of Cushing’s revenue of at least $2 billion annually by the end of the decade.Corcept Therapeutics Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 761.41M | 675.04M | 482.38M | 401.86M | 365.98M |
| Gross Profit | 748.43M | 664.16M | 475.89M | 396.47M | 360.70M |
| EBITDA | 68.35M | 138.29M | 108.32M | 113.89M | 127.95M |
| Net Income | 99.65M | 139.73M | 106.14M | 101.42M | 112.51M |
Balance Sheet | |||||
| Total Assets | 836.65M | 840.55M | 621.52M | 583.43M | 423.76M |
| Cash, Cash Equivalents and Short-Term Investments | 372.15M | 383.33M | 368.22M | 431.67M | 223.53M |
| Total Debt | 6.11M | 6.94M | 151.00K | 1.14M | 526.00K |
| Total Liabilities | 188.85M | 160.96M | 114.81M | 81.59M | 47.95M |
| Stockholders Equity | 647.80M | 679.59M | 506.70M | 501.84M | 375.81M |
Cash Flow | |||||
| Free Cash Flow | 141.78M | 195.90M | 126.90M | 119.91M | 167.42M |
| Operating Cash Flow | 142.00M | 198.07M | 127.04M | 120.32M | 167.89M |
| Investing Cash Flow | 69.76M | -177.60M | 90.91M | -114.33M | 136.13M |
| Financing Cash Flow | -220.37M | -28.35M | -148.72M | -17.28M | -302.59M |
Corcept Therapeutics Technical Analysis
Positive
42.25
Price Trends
37.65
Positive
51.55
Negative
62.81
Negative
Market Momentum
1.47
Negative
63.01
Neutral
67.64
Neutral
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 42.25 is above the 20-day moving average (MA) of 37.29, above the 50-day MA of 37.65, and below the 200-day MA of 62.81, indicating a neutral trend. The MACD of 1.47 indicates Negative momentum. The RSI at 63.01 is Neutral, neither overbought nor oversold. The STOCH value of 67.64 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $4.49B | 36.27 | 15.25% | ― | 17.92% | -26.13% | |
69 Neutral | $12.20B | 12.74 | -8.82% | ― | 4.14% | -179.96% | |
59 Neutral | $19.07B | -13.39 | -63.10% | ― | -100.00% | -44.24% | |
56 Neutral | $3.37B | -32.35 | -29.22% | ― | 74.91% | 31.54% | |
52 Neutral | $5.88B | -35.39 | -179.05% | ― | 54.92% | 28.47% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $9.15B | -49.60 | -254.14% | ― | 65.83% | 28.50% |
* Healthcare Sector Average
CORT
Corcept Therapeutics
42.25
-26.37
-38.43%
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Corcept Therapeutics Corporate Events
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...
Business Operations and StrategyProduct-Related Announcements
Corcept Therapeutics Phase 3 ROSELLA Trial Achieves Survival Benefit
Positive
Jan 22, 2026
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 reduci...
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.