Corcept Therapeutics Incorporated (NASDAQ:CORT) is one of the best biotech stocks to buy according to Wall Street analysts. On November 25, H.C. Wainwright reiterated a Buy rating and a $145 price target on the stock, citing its strong growth prospects despite commercial challenges. Wall Street Firms Tout Corcept Therapeutics Incorporated (CORT) Prospects on Korlym Medication Prospects The research firm has reiterated its confidence in the company’s Korlym medication, whose sales are projected to grow by ...

It has been about a month since the last earnings report for Corcept Therapeutics (CORT) . Shares have added about 9.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Corcept due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.Corcept Q3 Earnings & Revenues Lag Estima ...

Key Takeaways CORT's revenues are driven by Korlym, which posted $559.3M in nine-month sales in 2025, up 13.4% y/y.The company expects full-year 2025 revenues of $800M-$850M and sustained Korlym growth.Corcept filed NDAs for relacorilant in Cushing's and ovarian cancer, with FDA decisions due in 2025 and 2026.Corcept Therapeutics (CORT) has been making meaningful progress with its sole-marketed drug, Korlym (mifepristone), which is approved for treating Cushing's syndrome or endogenous hypercortisolism. Cur ...

Core Insights - Several small-cap biotech and therapeutics companies experienced significant gains in after-hours trading, driven by earnings updates, financial guidance, and regulatory developments [1] Company Summaries - Inotiv, Inc. (NOTV) saw a 36.61% increase in after-hours trading to $0.94, recovering from a 33.20% decline at the close, following preliminary Q4 revenue expectations of $137.5 million to $138.5 million and full-year revenue projections of $512.5 million to $513.5 million [2] - Applied Therapeutics, Inc. (APLT) rose 16.89% to $0.33 after a 30.19% gain at the close, with investors reacting positively to a narrower Q3 net loss of $19.0 million, or $0.13 per share, compared to a $68.6 million loss, or $0.48 per share, in the same quarter last year [3] - Alumis Inc. (ALMS) advanced 7.09% to $5.97, despite reporting a Q3 net loss of $110.8 million, wider than the $93.1 million loss in the prior year, with $2.1 million in collaboration income potentially boosting investor confidence [4] - TELA Bio, Inc. (TELA) increased 7.89% to $1.23 after a 14.08% gain at the close, reporting a reduced Q3 net loss of $8.6 million compared to $10.4 million a year earlier, with revenue growth of 9% to $20.7 million and revised 2025 guidance projecting at least 16% revenue growth over 2024 [5] - Corcept Therapeutics Inc. (CORT) gained 4.90% to $78.80, reflecting continued investor interest despite no specific news released [6] - BioRestorative Therapies, Inc. (BRTX) jumped 8.06% to $1.34, rebounding from a 6.77% decline at the close, following the announcement of a Type B meeting with the FDA to discuss a potential accelerated Biologics License Application pathway for its BRTX-100 program [7]

Core Insights - Corcept Therapeutics (CORT) reported Q3 2025 earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.18, and down from $0.41 in the same quarter last year [1][8] - Revenues for Q3 increased approximately 14% year over year to $207.6 million, but fell short of the Zacks Consensus Estimate of $219 million, with the revenue solely coming from product sales of Korlym [1][8] - The company lowered its total revenue guidance for 2025 to a range of $800-$850 million, down from the previous estimate of $850-$900 million, which contributed to a 4.6% drop in shares during after-hours trading [2][9] Financial Performance - Revenues from Korlym missed the model estimate of $222.6 million [5] - Research and development expenses rose 16% year over year to $68.8 million [5] - Selling, general and administrative expenses increased approximately 68.2% year over year to $124 million, leading to total operating expenses rising 30.8% year over year to $197.4 million in Q3 [5] Cash Position - As of September 30, 2025, cash and investments totaled $524.2 million, an increase from $515 million as of June 30, 2025 [6] Pipeline Developments - Corcept is developing relacorilant for Cushing's syndrome and certain cancer indications, with a new drug application submitted to the FDA in December 2024 [10] - The FDA accepted a new NDA for relacorilant in combination with nab-paclitaxel for treating platinum-resistant ovarian cancer, with a decision expected on July 11, 2026 [11] - Corcept is also conducting a phase II study evaluating relacorilant plus nab-paclitaxel for cervical cancer and plans to start another phase II study for pancreatic cancer soon [13][14] Market Performance - Year to date, shares of Corcept have increased by 41.1%, significantly outperforming the industry average rise of 6.7% [4]

Core Insights - Corcept Therapeutics reported quarterly earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.18 per share, and down from $0.41 per share a year ago, representing an earnings surprise of -11.11% [1] - The company posted revenues of $207.64 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 5.27%, compared to $182.55 million in the same quarter last year [2] - Corcept shares have increased by approximately 47.2% since the beginning of the year, outperforming the S&P 500's gain of 16.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.42 on revenues of $281.34 million, and for the current fiscal year, it is $1.07 on revenues of $852.16 million [7] - The estimate revisions trend for Corcept was unfavorable prior to the earnings release, resulting in a Zacks Rank 5 (Strong Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Medical - Drugs industry, to which Corcept belongs, is currently in the top 36% of over 250 Zacks industries, suggesting that stocks in the top 50% of Zacks-ranked industries tend to outperform those in the bottom 50% by more than 2 to 1 [8]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $207.6 million, up from $182.5 million in the same period last year, reflecting a year-over-year increase of approximately 13% [3] - Net income decreased to $19.7 million from $47.2 million in Q3 2024 [3] - Cash and investments as of September 30, 2025, totaled $524 million, which includes a $50 million stock repurchase [3] Business Line Data and Key Metrics Changes - The hypercortisolism business experienced a 42.5% increase in tablet shipments compared to Q3 2024, driven by record prescriptions for Korlym [7] - The company is transitioning to a new pharmacy vendor due to capacity constraints with the previous vendor, which may affect growth in the short term [7][8] Market Data and Key Metrics Changes - The company reported around 3,250 paying patients at the end of Q3 2025, with expectations for significant market capacity growth as relacorilant is launched [34][35] - The authorized generic accounted for approximately 70% of the business in Q3 2025, with expectations to reach around 75% by year-end [42] Company Strategy and Development Direction - The company is preparing for the launch of relacorilant, with PDUFA dates set for December 30, 2025, for hypercortisolism and July 11, 2026, for ovarian cancer [12] - The oncology program is expanding significantly, with plans for new studies in various solid tumors and a focus on combining treatments with existing therapies [20][21] - The company aims to triple the potential patient base for gynecological cancers from 20,000 to 60,000 annually in the U.S. [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of relacorilant, anticipating it could generate $3-$5 billion in annual revenue in hypercortisolism alone within three to five years [11] - The company is optimistic about the upcoming FDA approvals and the potential impact of its clinical studies on treatment paradigms [28][29] Other Important Information - The company is finalizing a phase 3 trial design for dazcorilant in ALS, expected to start by mid-2026 [14][27] - The CATALYST study revealed that one in four patients with resistant diabetes has hypercortisolism, indicating a significant opportunity for treatment [24] Q&A Session Summary Question: How many patients were on drug at the end of the quarter? - Approximately 3,250 paying patients were reported at the end of Q3 2025 [34] Question: What is the capacity of the new pharmacy compared to the old one? - The new pharmacy has the ability to continually expand and has multiple locations, which is expected to support the business effectively [34] Question: Are there any downward pressures on margins? - No downward pressure on margins has been observed, and the company does not expect any [36] Question: What is the net pricing relative to brand pricing? - The net pricing is about a 30% discount to Korlym's list price, with the authorized generic making up a significant portion of the business [42] Question: Was the lack of priority review for the ovarian cancer NDA surprising? - Management was not surprised by the lack of priority review, acknowledging the FDA's many priorities [44] Question: What are the expectations for R&D and SG&A in 2026? - R&D expenditures are expected to remain stable, while SG&A expenses are anticipated to increase due to preparations for product launches [46]

Product Development and Trials - The company has marketed Korlym in the U.S. since 2012 for treating hypercortisolism, with an authorized generic version launched in June 2024[76]. - In the CATALYST study, 23.8% of 1,057 patients with difficult-to-control diabetes were found to have hypercortisolism, with Korlym showing a statistically significant HbA1c reduction of 1.47% compared to 0.15% for placebo (p-value: < 0.0001)[78]. - The MOMENTUM trial, initiated in March 2025, aims to enroll 1,000 patients to assess hypercortisolism prevalence in resistant hypertension[80]. - Relacorilant, a selective cortisol modulator, has been submitted for FDA approval with a PDUFA date of December 30, 2025, based on positive results from the GRACE and GRADIENT trials[84]. - In the GRACE trial, patients experienced a mean systolic blood pressure reduction of 7.9 mm Hg and a 63% response rate in hypertension[86]. - The GRADIENT study showed a placebo-adjusted reduction in fasting glucose of 22.2 mg/dL (p-value: 0.002) for patients receiving relacorilant[93]. - The company submitted an NDA for relacorilant in combination with nab-paclitaxel for platinum-resistant ovarian cancer, with a PDUFA date of July 11, 2026[98]. - The ROSELLA trial enrolled 381 women with recurrent ovarian cancer, assessing progression-free survival and overall survival as dual primary endpoints[99]. - The Phase 2 trial, BELLA, is enrolling 90 patients with platinum-resistant ovarian cancer to evaluate the efficacy and safety of relacorilant combined with nab-paclitaxel and bevacizumab[106]. - An interim analysis indicated a 31% reduction in risk of death for patients receiving relacorilant plus nab-paclitaxel, with a median overall survival of 16.0 months compared to 11.5 months for nab-paclitaxel alone[101]. - The Phase 2 trial DAZALS for ALS showed a statistically significant 84% reduction in risk of death for patients receiving 300 mg of dazucorilant compared to placebo[113]. - The Phase 2b trial MONARCH for miricorilant in patients with MASH has completed enrollment in two cohorts, with 82 patients in Cohort A and 93 patients in Cohort B[116]. - The FDA has granted dazucorilant Fast Track Designation and orphan drug status for the treatment of ALS in the United States[115]. Financial Performance - Net product revenue for Q3 2025 was $207.6 million, a 13.8% increase from $182.5 million in Q3 2024, driven by a 42.5% increase in sales volume[122]. - For the nine months ended September 30, 2025, net product revenue reached $559.3 million, up 13.4% from $493.2 million in the same period of 2024[122]. - Cost of sales for Q3 2025 was $4.6 million, representing 2.2% of revenue, compared to 1.6% in Q3 2024, primarily due to a $1.0 million write-off of scrapped inventory[124]. - Research and development expenses for Q3 2025 totaled $68.8 million, a 16.0% increase from $59.3 million in Q3 2024, attributed to advancing development programs and employee compensation[126]. - Selling, general and administrative expense increased to $124.0 million for Q3 2025 from $73.7 million in Q3 2024, and for the nine months ended September 30, 2025, it was $318.5 million compared to $196.9 million in 2024[129]. - Interest and other income decreased to $5.0 million for Q3 2025 from $6.3 million in Q3 2024, and for the nine months ended September 30, 2025, it was $16.2 million compared to $17.8 million in 2024[131]. - Income tax benefit for Q3 2025 was $4.4 million, compared to an expense of $5.7 million in Q3 2024, and for the nine months ended September 30, 2025, it was $18.8 million compared to $19.1 million in 2024[132]. - The company expects higher research and development and selling, general and administrative expenses in 2025 compared to 2024 due to advancing clinical programs and increased commercialization efforts[128][130]. Cash Flow and Assets - As of September 30, 2025, cash, cash equivalents, and marketable securities totaled $524.2 million, down from $603.2 million as of December 31, 2024[135]. - Net cash provided by operating activities was $103.5 million for the nine months ended September 30, 2025, compared to $138.2 million in the same period of 2024[137]. - Net cash provided by investing activities was $81.6 million for the nine months ended September 30, 2025, compared to net cash used of $113.2 million in 2024[138]. - Net cash used in financing activities was $189.2 million for the nine months ended September 30, 2025, compared to $23.8 million in 2024, with $209.3 million spent on share repurchases[139]. - Retained earnings as of September 30, 2025, were $619.1 million[140]. Regulatory and Legislative Impact - The FDA and European Commission have designated relacorilant as an orphan drug, providing benefits such as tax credits and exclusive marketing rights[96]. - The Inflation Reduction Act of 2022 may materially reduce profits starting in 2026 due to provisions limiting revenue from Medicare patients[118].

Core Insights - Corcept Therapeutics Incorporated (NASDAQ:CORT) is identified as a strong investment opportunity with over 50% upside potential, supported by analysts maintaining a Buy rating and setting price targets of $140 and $145 respectively [1][2]. Company Overview - Corcept Therapeutics is a biopharmaceutical company focused on developing therapies that modulate cortisol effects, with its flagship product, Korlym, FDA-approved for treating Cushing's syndrome [5]. Clinical Developments - The company's relacorilant shows promise for treating ovarian cancer, particularly in patients with platinum-resistant ovarian cancer previously treated with PARP inhibitors, as indicated by recent ROSELLA trial data presented at a medical congress [3]. - Despite the typically poorer prognosis of this subgroup, significant progression-free survival benefits were observed with relacorilant in combination with nab-paclitaxel [4]. - Management is optimistic about the broader therapeutic potential of relacorilant, as evidenced by the expansion of the BELLA Phase 2 trial to include additional indications like endometrial cancer and platinum-sensitive ovarian cancer [4].

Core Insights - Corcept Therapeutics Incorporated presented new late-breaking data from its pivotal Phase 3 ROSELLA trial, focusing on the combination of relacorilant and nab-paclitaxel for treating platinum-resistant ovarian cancer [1] Company Overview - Corcept Therapeutics is a commercial-stage company that specializes in discovering and developing medications aimed at treating severe endocrinologic, oncologic, metabolic, and neurologic disorders by modulating cortisol hormone effects [1]