Swayampakula Ramakanth, an analyst from H.C. Wainwright, maintained the Buy rating on Corcept Therapeutics (CORT – Research Report). The associated price target is $80.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Swayampakula Ramakanth’s rating is based on several key factors concerning Corcept Therapeutics. Primarily, the company has demonstrated consistent growth in Korlym sales over the past eight quarters, attributed to a higher identification rate and increased adoption among Cushing’s syndrome patients. This growth trajectory is supported by positive outcomes from the Phase 4 CATALYST study, highlighting a significant incidence of hypercortisolism and improvements in hemoglobin A1c levels among patients with difficult-to-control type 2 diabetes.
Moreover, there exists a substantial potential for market expansion, as a survey of endocrinologists revealed that many are not yet aware of the connection between hypercortisolism and difficult-to-treat diabetes. This presents an opportunity for Corcept to enhance awareness through scientific dissemination of the CATALYST data. If successful, these efforts could unlock a new revenue stream estimated at $400M to $500M annually. Additionally, the anticipated regulatory decision regarding relacorilant could further bolster market adoption due to its improved safety profile, thereby reinforcing Corcept’s long-term growth prospects.
In another report released on January 30, Canaccord Genuity also maintained a Buy rating on the stock with a $130.00 price target.