Corcept initiated with Overweight, $27 target at Piper Sandler

Piper Sandler analyst David Amsellem initiated coverage of Corcept Therapeutics with an Overweight rating and $27 price target. Corcept is on the cusp of driving a "significantly greater footprint" for its Cushing’s syndrome franchise with the eventual commercialization of its next-generation cortisol modulator relacorilant, the analyst tells investors in a research note. The firm says relacorilant profiles as having at least a similar efficacy profile to Korlym, "without the safety baggage." Feedback from PIper’s survey of endocrinologists is supportive of a wide footprint for relacorilant, contends the firm. It views Corcept shares as attractively valued .