Analysts fell to the sidelines weighing in on Seattle Genetics (NASDAQ:SGEN) and Corcept Therapeutics Inc (NASDAQ:CORT) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.
Seattle Genetics (SGEN)
Cowen & Co. analyst Boris Peaker maintained a Hold rating on Seattle Genetics today and set a price target of $82. The company’s shares opened today at $77.78, close to its 52-week high of $81.59.
According to TipRanks.com, Peaker is a 4-star analyst with an average return of 11.5% and a 44.6% success rate. Peaker covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Corvus Pharmaceuticals Inc, and Stemline Therapeutics Inc.
Currently, the analyst consensus on Seattle Genetics is a Strong Buy with an average price target of $82.88.
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Corcept Therapeutics Inc (CORT)
In a report released today, Charles Duncan from Cantor Fitzgerald maintained a Hold rating on Corcept Therapeutics Inc, with a price target of $17. The company’s shares opened today at $14.21.
Duncan noted:
“We are Neutral on CORT with a 12-month price target of $17 based on value from Korlym. First gen GR modulator Korlym’s YOY revs have been notably (recently) growing since launch, legitimizing the Cushing’s market, & driving CORT to cash flow positive. However, after ~5 years of outperformance, and despite seeing a low probability of a viable generic challenge, we are “becoming stressed” by potential new innovator entrants and timelines for 2nd-gen GR blocker relacorilant to move through Phase 3. That said, recent interim P2 data from a high dose cohort show rela’ to have differentiating clinically activity consistent with our long-held thesis.”
According to TipRanks.com, Duncan is a 4-star analyst with an average return of 4.0% and a 51.6% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Corcept Therapeutics Inc with a $18.75 average price target.
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