Analysts fell to the sidelines weighing in on Corcept Therapeutics Inc (NASDAQ:CORT) and ImmunoGen (NASDAQ:IMGN) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.
Corcept Therapeutics Inc (CORT)
In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Hold rating on Corcept Therapeutics Inc, with a price target of $17. The company’s shares opened today at $12, close to its 52-week low of $11.21.
Duncan wrote:
“. We are Neutral on CORT with a 12-month price target of $17 based on value from Korlym. Yesterday, after market close, Corcept reported 3Q18 revenues of $64.4M & cash of $196.7M. Our model projects current cash & Korlym profits to fund operations through the P3 study of Relacorilant in Cushing’s as well as signal-seeking studies underway with several earlier candidates. 3Q call centered on sustainability of Korlym sales growth and Rela’s P3. Korlym sales grew 51% in 3Q18 compared to 3Q17. We believe that this growth is a result of the company’s effective outreach and education efforts to physicians that has yet to peak as there are prescribers it has yet to engage.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 1.0% and a 44.7% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Corcept Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $18.75.
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ImmunoGen (IMGN)
Cowen & Co. analyst Boris Peaker maintained a Hold rating on ImmunoGen today. The company’s shares opened today at $6.05, close to its 52-week low of $4.80.
According to TipRanks.com, Peaker is a 4-star analyst with an average return of 8.3% and a 42.9% success rate. Peaker covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals Inc, Stemline Therapeutics Inc, and Mersana Therapeutics Inc.
Currently, the analyst consensus on ImmunoGen is a Moderate Buy with an average price target of $18.50.
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