Corcept Therapeutics Inc (CORT) Gets a Hold Rating from Cantor Fitzgerald


In a report released today, Charles Duncan from Cantor Fitzgerald maintained a Hold rating on Corcept Therapeutics Inc (CORT), with a price target of $17. The company’s shares opened today at $12.70, 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. 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 The Disclosure Section may be found on pages 4 – 5.new innovator entrants and timelines for 2nd-gen GR blocker relacorilant to move through P3. 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 1-star analyst with an average return of -1.0% and a 42.2% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

Currently, the analyst consensus on Corcept Therapeutics Inc is a Hold with an average price target of $17.

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Corcept Therapeutics Inc’s market cap is currently $1.5B and has a P/E ratio of 10.93. The company has a Price to Book ratio of 5.79.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CORT in relation to earlier this year.

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Corcept Therapeutics, Inc. engages in the development of drugs for the treatment of severe psychiatric, neurological, and metabolic disorders. It focuses on the development of drugs for disorders that are associated with a steroid hormone called cortisol. Its products include korlym and korlym support. The company was founded by David B. Singer and Joseph K.

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