Truist Securities Assumes Corcept Therapeutics (CORT) at Buy

Truist Securities analyst Srikripa Devarakonda assumes coverage on Corcept Therapeutics (NASDAQ: CORT) with a Buy rating and a price target of $164.00.

The analyst comments "We assume coverage of CORT with a Buy rating (unchanged vs prior) & a $164/sh PT (vs $50). Our thesis centers around – 1) Opportunity in Cushing’s which continues to be a backbone of CORT’s valuation. We anticipate relacorilant (rela) approval and broader adoption given differentiated profile (and model Korlym losing share) & expect CORT’s continued investment to expand the market. We model peak adj sales of $1.6B vs. $1.2B consensus; 2) Lifyorli, with early approval & strong early launch in ovarian cancer (PROC) presents a blockbuster opportunity, in our view. We model peak sales in line with consensus and see potential for expansion to other solid tumors with data by YE2027."

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 $117.17 yesterday.

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