Corcept Therapeutics Inc's stock plummeted by 52.70%, hitting a 52-week low as investor sentiment soured following recent news.
The decline is attributed to the FDA issuing a Complete Response Letter regarding Corcept's relacorilant drug application for treating hypercortisolism, indicating insufficient evidence of effectiveness despite meeting primary endpoints in the GRACE trial. This regulatory setback negatively impacts the company's future revenue expectations and may delay the drug's market entry, affecting its competitive position.
As Corcept navigates these regulatory challenges, the market's cautious outlook reflects broader concerns about the company's ability to secure future revenue streams, prompting investors to reassess their positions in light of the recent developments.
Wall Street analysts forecast CORT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CORT is 91.00 USD with a low forecast of 50.00 USD and a high forecast of 121.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
Wall Street analysts forecast CORT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CORT is 91.00 USD with a low forecast of 50.00 USD and a high forecast of 121.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Buy
1 Hold
1 Sell
Moderate Buy
Current: 45.850
Low
50.00
Averages
91.00
High
121.00
Current: 45.850
Low
50.00
Averages
91.00
High
121.00
Canaccord
Buy
maintain
$99 -> $100
2026-01-23
Reason
Canaccord
Price Target
$99 -> $100
AI Analysis
2026-01-23
maintain
Buy
Reason
Canaccord raised the firm's price target on Corcept Therapeutics to $100 from $99 and keeps a Buy rating on the shares. The firm noted they reported final overall survival (OS) data from the company's Phase III ROSELLA trial in patients with platinum-resistant ovarian cancer (PROC). The data showed durability as the previously reported interim median OS improvement of 4.5 months was maintained and 2025 revenue estimates were increased with in guidance.
H.C. Wainwright
Swayampakula Ramakanth
Buy
maintain
$90 -> $105
2026-01-22
Reason
H.C. Wainwright
Swayampakula Ramakanth
Price Target
$90 -> $105
2026-01-22
maintain
Buy
Reason
H.C. Wainwright analyst Swayampakula Ramakanth raised the firm's price target on Corcept Therapeutics to $105 from $90 and keeps a Buy rating on the shares. Citing "strong" survival data, the firm increased its market penetration to 25% from 20% for relacorilant in ovarian cancer. Corcept announced positive median overall survival data from its pivotal Phase 3 ROSELLA study in platinum-resistant ovarian cancer, the analyst tells investors in a research note. H.C. Wainwright believes the data bodes well for the upcoming FDA action date on July 11.
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H.C. Wainwright
Swayampakula Ramakanth
Buy
downgrade
$145 -> $90
2026-01-02
Reason
H.C. Wainwright
Swayampakula Ramakanth
Price Target
$145 -> $90
2026-01-02
downgrade
Buy
Reason
H.C. Wainwright analyst Swayampakula Ramakanth lowered the firm's price target on Corcept Therapeutics to $90 from $145 and keeps a Buy rating on the shares after the company received a complete response letter from the FDA regarding the new drug application for relacorilant as a therapy for hypercortisolism in Cushing's syndrome. The FDA appears to want additional confirmatory evidence to assess the benefit-risk of relacorilant and to justify an approval, the analyst tells investors in a research note. This suggests the agency could be seeking a placebo-controlled trial, which is surprising, contends H.C. Wainwright. It cites the delayed launch of relacorilant for the treatment of Cushing's syndrome for the target cut.
Canaccord
Edward Nash
Buy
downgrade
$140 -> $99
2026-01-02
Reason
Canaccord
Edward Nash
Price Target
$140 -> $99
2026-01-02
downgrade
Buy
Reason
Canaccord analyst Edward Nash lowered the firm's price target on Corcept Therapeutics to $99 from $140 and keeps a Buy rating on the shares after the FDA issued a complete response letter for relacorilant as a treatment for patients with hypertension secondary to hypercortisolism. While a setback, the Korlym business "is still strong, and we do not expect genetics to make any additional in roads," the analyst tells investors in a research note. The firm views Wednesday's selloff in the shares as a buying opportunity. Canaccord still believes in the growth potential of Korlym as well as the potential approval of relacorilant in platinum-resistant ovarian cancer, which has an FDA action date of July 11, 2026. The firm sees the Korlym generating over $2B in peak revenue.
About CORT
Corcept Therapeutics Incorporated is a commercial-stage company. The Company is engaged in the discovery and development of medications to treat severe endocrinologic, oncologic, metabolic and neurologic disorders by modulating the effects of the hormone cortisol. The Company operates through the discovery, development and commercialization of the pharmaceutical products segment. The Company has marketed Korlym (mifepristone) in the United States for the treatment of patients suffering from Cushings syndrome. The Company’s portfolio of selective cortisol modulators consists of four series totaling approximately 1,000 compounds. Its portfolio of selective cortisol modulators consists of relacorilant, dazucorilant and miricorilant. Korlyms active ingredient, mifepristone, reduces the binding of excess cortisol to the GR, it can modulate the effects of abnormal levels and release patterns of cortisol without compromising cortisols healthy functions and rhythms.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
