BofA/Merrill Maintains Bearish View on Corcept Therapeutics (CORT) Following Competitor sNDA

BofA/Merrill Lynch analyst Tazeen Ahmad reiterated an Underperform rating and $6 price target on Corcept Therapeutics (NASDAQ: CORT) after competitor Novartis received the FDA approval of its sNDA for Signifor LAR in patients with Cushing’s disease (CD) for whom pituitary surgery is not an option.

The firm maintained their cautious view on CORT shares based on an increasingly competitive Cushing’s market due to potential near-term generic entrants and continued advancement of competitor program.

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 $14.70 yesterday.

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