Truist analyst Gregory Fraser upgraded Corcept Therapeutics to Buy from Hold with a price target of $38, up from $29. The analyst sees three key growth drivers over the next 12 to 18 months for the company: the approval and commercialization of second generation anti-cortisol, relacoriant, expansion into difficult to treat diabetics and commercial opportunity in oncology. The firm is cognizant of the ongoing investigation by the United States Attorney for the District of New Jersey but its diligence “failed to reveal any gross systematic sales misconduct” by Corcept.
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- Corcept Therapeutics upgraded to Buy from Hold at Truist
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