Corcept Therapeutics price target raised to $35 from $31 at Piper Sandler

Piper Sandler analyst David Amsellem raised the firm’s price target on Corcept Therapeutics to $35 from $31 and keeps an Overweight rating on the shares. The firm polled 25 endocrinologists who treat significant numbers of patients with Cushing’s syndrome, as well as significant numbers of patients with poorly-controlled type II diabetes. The feedback was supportive of management commentary citing a widening footprint of diagnosed and treated CS patients. Beyond that, the feedback reinforced Piper’s view that next-generation selective cortisol modulator relacorilant is likely to have an appreciably wider patient footprint than that of Korlym.