Jefferies Assumes Corcept Therapeutics (CORT), Upgrades to Buy
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Jefferies analyst Dennis Ding assumes coverage on Corcept Therapeutics (NASDAQ: CORT) with a Buy rating (from Neutral) and a price target of $35.00.
The analyst comments "Assuming and upgrading CORT to BUY and $35 PT on an interesting defensive yet offensive healthcare story over the next few years. We think CORT should benefit in the current challenging macro environment since the $400M+ Cushing's base biz is high margin, profitable, and FCF generating, which is attractive among SMID cap biotech peers. Pipeline readouts over the next few years should drive an improved top and bottom-line growth profile through the decade."
Shares of Corcept Therapeutics closed at $26.81 yesterday.
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