Corcept Therapeutics (CORT) Get Boost From Leerink Swann Upgrade - Positive Ahead of PDUFA Date for Korlym
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Price: $121.06 +0.01%
Rating Summary:
8 Buy, 8 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 8 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Corcept Therapeutics (Nasdaq: CORT) are getting a boost today from Leerink Swann, who upgraded the stock from Market Perform to Outperform. Leerink also raised its price target from $3 to $5.
Analyst, Joshua Schimmer's Bottom Line: "We are upgrading CORT from MP to OP as the 02/17/12 PDUFA date for Korlym approaches. Given recent disclosures from the company, we feel more comfortable with approval prospects. We have also benchmarked projected use of Korlym versus other therapies and increase our Korlym sales projections. Our valuation moves from ~$3/share to ~$5/share, representing approximately 65% upside from current levels. We estimate 80% chance of Korlym approval with ~30-40% upside on the event, but 80% downside from current levels if rejected."
To see more ratings on CORT, Click Here
The stock is trading at $3.24, up $0.12 (+3.85%)
Analyst, Joshua Schimmer's Bottom Line: "We are upgrading CORT from MP to OP as the 02/17/12 PDUFA date for Korlym approaches. Given recent disclosures from the company, we feel more comfortable with approval prospects. We have also benchmarked projected use of Korlym versus other therapies and increase our Korlym sales projections. Our valuation moves from ~$3/share to ~$5/share, representing approximately 65% upside from current levels. We estimate 80% chance of Korlym approval with ~30-40% upside on the event, but 80% downside from current levels if rejected."
To see more ratings on CORT, Click Here
The stock is trading at $3.24, up $0.12 (+3.85%)
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