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Investing.com - Truist Securities reiterated its Buy rating and $135.00 price target on Corcept Therapeutics (NASDAQ:CORT) Thursday, following the American Diabetes Association conference. According to InvestingPro data, analyst targets for the stock range from $131 to $145, with the company currently trading at $73.99.
The research firm highlighted what it sees as a "significant and underappreciated" opportunity for Corcept in treating hypercortisolism with co-morbid diabetes, according to a note issued by the firm. The company’s strong financial position is evident in its impressive 31% revenue growth and "GREAT" financial health score, as reported by InvestingPro.
Corcept management expressed confidence in the ongoing new drug application (NDA) for relacorilant following a recent mid-cycle review, Truist reported.
The company also maintains a positive outlook regarding an upcoming oral hearing against Teva Pharmaceutical (NYSE:TEVA)’s induced infringement case, according to the research note.
Despite Corcept shares outperforming year-to-date with gains of approximately 47% compared to an 8% decline in the XBI biotech index, Truist believes further upside remains as investors recognize opportunities for relacorilant in both hypercortisolism and PROC. The stock has delivered an exceptional 134% return over the past year, maintaining strong liquidity with current assets exceeding short-term obligations. For deeper insights into CORT’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Corcept Therapeutics Incorporated has reported significant findings from its CATALYST trial, which demonstrated that Korlym improves blood glucose control in patients with hypercortisolism and type 2 diabetes. The trial showed a notable reduction in hemoglobin A1c levels and improvements in body weight and waist circumference among participants. Additionally, Corcept’s Phase 3 ROSELLA trial results suggest that relacorilant, combined with nab-paclitaxel, could be effective for treating platinum-resistant ovarian cancer, achieving primary endpoints of progression-free survival and overall survival. These results were presented at the ASCO 2025 Annual Meeting and published in The Lancet.
At the company’s recent annual meeting, all nominated directors were elected, and Ernst & Young LLP was ratified as the independent registered public accounting firm. The executive compensation plan was also approved. H.C. Wainwright analysts maintained a Buy rating for Corcept Therapeutics, affirming a $145 price target, following the promising outcomes of the ROSELLA study. The analysts emphasized the potential impact of these findings on Corcept’s stock valuation. Corcept’s Chief Development Officer expressed the company’s commitment to expediting regulatory applications for relacorilant in the U.S. and Europe.
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