Corcept Therapeutics Shares Plunge 50.42% Following FDA Complete Response Letter on New Drug Application
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5d ago
0mins
Source: Globenewswire
- FDA Response Letter: On December 31, 2025, Corcept received a Complete Response Letter from the FDA requesting additional evidence of effectiveness despite its GRACE trial meeting primary endpoints, indicating potential but failing to satisfy the FDA's benefit-risk assessment, which undermines market confidence.
- Stock Price Plunge: Following the FDA announcement, Corcept's stock price fell by $35.40, a staggering 50.42% drop to close at $34.80, reflecting extreme investor concern over the company's future prospects, which may impact its financing capabilities and market position.
- Legal Investigation Initiated: Pomerantz LLP is investigating whether Corcept and its executives engaged in securities fraud or other unlawful business practices, indicating potential legal risks for the company that could further erode shareholder trust and market performance.
- Investor Advisory: Investors are advised to contact Pomerantz LLP for information on joining the class action, highlighting market concerns regarding corporate governance and transparency, which may lead to further investor withdrawals.
Analyst Views on CORT
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 135.33 USD with a low forecast of 121.00 USD and a high forecast of 145.00 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.
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 36.530
Low
121.00
Averages
135.33
High
145.00
Current: 36.530
Low
121.00
Averages
135.33
High
145.00
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.
