Leerink Swann maintains an 'Outperform' on Corcept Therapeutics (CORT); Korlym Approved. Launch To Start On May 1

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Leerink Swann maintains an 'Outperform' on Corcept Therapeutics (NASDAQ: CORT) price target of $5.00.

Leerink analyst says, "CORT announced on Friday, 2/17, the approval of Korlym for the treatment of Cushing's syndrome. CORT hosted a conference call this morning to discuss the approval and the commercialization plans for Korlym...CORT expects to price the drug comparable to other orphan drugs and to announce the price near the time of the 5/1 launch. In addition, while the most frequent dose in the trial was 1200mg/day, the average dose has not been disclosed. Hence the average annual cost of therapy remains an open question. We currently estimate the annual cost of therapy will be $175k/yr."

For an analyst ratings summary and ratings history on Corcept Therapeutics click here. For more ratings news on Corcept Therapeutics click here.

Shares of Corcept Therapeutics closed at $3.03 yesterday, with a 52 week range of $2.50-$5.07.

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