Corcept Therapeutics Inc Receives a Buy from B.Riley FBR


In a report issued on June 12, David Buck from B.Riley FBR reiterated a Buy rating on Corcept Therapeutics Inc (NASDAQ: CORT), with a price target of $30. The company’s shares closed yesterday at $19.13.

Buck observed:

“We reiterate our Buy rating on Corcept Therapeutics (CORT) and are making some modest adjustments to our model, which we put under review after 1Q18 EPS. For 2018E revenues we increase our forecast from $291.6 million to $296.0 million. For 2019E revenues we increase our forecast from $438.6 million to $447.3 million. We make some moderate tweaks to 2018 and 2019 quarterly EPS progression; however, we keep 2018E and 2019E EPS unchanged at $1.05 and $1.70. Our forecasts represent Y/Y adjusted EPS growth of ~107% and ~61% for 2018 and 2019. 1Q18 was slightly lighter than modeled at $57.7M, up ~109% Y/Y . We note that Corcept did not get the full benefit of a Korlym price increase due to higher gross-to-net discounting; however, we expect flow through for 2Q18 and beyond.”

According to TipRanks.com, Buck is a 4-star analyst with an average return of 17.0% and a 80.0% success rate. Buck covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Supernus Pharmaceuticals, and Amag Pharmaceuticals.

Corcept Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $27.33.

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The company has a one-year high of $25.96 and a one-year low of $10.40. Currently, Corcept Therapeutics Inc has an average volume of 1.18M.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is neutral on the stock.

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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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