H.C. Wainwright analyst Swayampakula Ramakanth has reiterated their bullish stance on CORT stock, giving a Buy rating today.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors that highlight the potential of Corcept Therapeutics’ relacorilant in treating ovarian cancer. The recent data from the ROSELLA trial, presented at the European Society for Medical Oncology congress, showed promising results for patients with platinum-resistant ovarian cancer who had previously been treated with PARP inhibitors. This subgroup, which typically has a poorer prognosis, demonstrated significant progression-free survival benefits when treated with relacorilant in combination with nab-paclitaxel.
Moreover, the expansion of the BELLA Phase 2 trial to include additional indications such as platinum-sensitive ovarian cancer and endometrial cancer suggests management’s confidence in relacorilant’s broader therapeutic potential. The safety profile of relacorilant also supports its use, as adverse events remain manageable and comparable to control groups. These factors, combined with the potential for favorable regulatory outcomes, underpin Ramakanth’s recommendation to buy Corcept Therapeutics stock, especially in light of recent market weaknesses related to changes in Korlym’s commercial distribution.
In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $121.00 price target.
Based on the recent corporate insider activity of 154 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CORT in relation to earlier this year.