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In recent transactions, Joseph Belanoff, the Chief Executive Officer of Corcept Therapeutics Inc. (NASDAQ:CORT), sold a significant portion of the company’s common stock. The sale comes as the company, currently valued at $8.86 billion, has seen remarkable growth with a 47.87% return in the past week. According to the latest SEC filings, Belanoff disposed of a total of 35,452 shares over two consecutive days, March 31 and April 1, 2025.
The shares were sold at prices ranging from $94.72 to $114.71, resulting in a cumulative transaction value of approximately $3.37 million. Following these sales, Belanoff retains ownership of 2,981,985 shares through the Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust. It’s important to note that these transactions were conducted under a pre-established Rule 10b5-1 trading plan. According to InvestingPro data, CORT maintains excellent financial health with a "GREAT" overall score and impressive revenue growth of 39.94% over the last twelve months. For deeper insights into CORT’s valuation and 16+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Corcept Therapeutics has reported positive results from its pivotal Phase 3 ROSELLA trial, which evaluated relacorilant in combination with nab-paclitaxel for patients with platinum-resistant ovarian cancer. The trial met its primary endpoint, showing improved progression-free survival (PFS) and overall survival (OS), with a median PFS of 6.5 months compared to 5.5 months for the control group. Additionally, the interim analysis revealed a median OS of 16.0 months versus 11.5 months for those receiving nab-paclitaxel alone. Following these promising results, Corcept plans to submit a New Drug Application (NDA) in the third quarter of 2025, with potential approval and market launch anticipated around 2026/27.
Analyst firms Truist Securities and H.C. Wainwright have both raised their price targets for Corcept Therapeutics to $150, maintaining a Buy rating on the stock. The analysts noted the competitive nature of the ROSELLA trial data compared to similar treatments, such as AbbVie (NYSE:ABBV)’s Elahere. Corcept’s relacorilant has been highlighted for its favorable safety profile and potential broader applicability, as the trial did not require biomarker selection for patient enrollment. In other developments, the U.S. Food and Drug Administration (FDA) has accepted Corcept’s NDA for relacorilant for the treatment of endogenous hypercortisolism, with a Prescription Drug User Fee Act (PDUFA) target action date set for December 30, 2025. The company’s CEO, Joseph Belanoff, M.D., expressed optimism about relacorilant’s potential to become a new standard of care for Cushing’s syndrome.
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