Corcept Therapeutics Under Investigation After FDA Response, Shares Plunge Over 50%

Written by Emily J. Thompson, Senior Investment Analyst

CORT-1.86%

Source: PRnewswire

Updated: 3d ago

0mins

Source: PRnewswire

Legal Investigation Launched: The Schall Law Firm has initiated an investigation into Corcept Therapeutics, focusing on potential violations of securities laws, particularly regarding the issuance of false or misleading statements that may have led to investor losses.
FDA Response Impact: On December 31, 2025, Corcept announced that the FDA issued a Complete Response Letter for relacorilant's New Drug Application, stating that while the GRACE trial met its primary endpoint, additional evidence of effectiveness is required.
Stock Price Volatility: Following the FDA's negative feedback, Corcept's shares plummeted over 50%, significantly undermining investor confidence and potentially triggering further legal actions against the company.
Investor Rights Protection: The Schall Law Firm encourages affected investors to reach out for free discussions about their rights, demonstrating a commitment to protecting investor interests and supporting those impacted by the situation.

CORT

$34.73+Infinity%1D

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: 35.390

Low

121.00

Averages

135.33

High

145.00

Current: 35.390

Low

121.00

Averages

135.33

High

145.00

H.C. Wainwright

Swayampakula Ramakanth

Buy

downgrade

$145 -> $90

Al Analysis

2026-01-02

Reason

H.C. Wainwright

Swayampakula Ramakanth

Price Target

$145 -> $90

Al Analysis

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.

Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for CORT

Unlock Now

Wolfe Research

Kalpit Patel

Peer Perform -> Underperform

downgrade

$30

2025-12-31

Reason

Wolfe Research

Kalpit Patel

Price Target

$30

2025-12-31

downgrade

Peer Perform -> Underperform

Reason

Wolfe Research analyst Kalpit Patel downgraded Corcept Therapeutics to Underperform from Peer Perform with a $30 price target.

Wolfe Research

Peer Perform -> Underperform

downgrade

$30

2025-12-31

Reason

Wolfe Research

Price Target

$30

2025-12-31

downgrade

Peer Perform -> Underperform

Reason

Wolfe Research downgraded Corcept Therapeutics to Underperform from Peer Perform with a $30 price target after the company announced it received from the FDA a complete response letter regarding the new drug application for relacorilant as a treatment for patients with hypertension secondary to hypercortisolism, citing the need for additional evidence of effectiveness. At a minimum, the firm believes the company would likely need to conduct another trial, which would be lengthy, and it is "questionable" if the new trial would yield materially different results from what Corcept has already generated, says the analyst, who is removing relacorilant sales for Cushing's from the firm's model.

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.