Company Performance - Corcept Therapeutics (CORT) shares have increased by 12.1% over the past month and reached a new 52-week high of $51.32, with a year-to-date gain of 54.1% compared to the Zacks Medical sector's 3.1% and the Zacks Medical - Drugs industry's -4.2% return [1][2] - The company has consistently exceeded earnings expectations, reporting EPS of $0.41 against a consensus estimate of $0.27 in its last earnings report on October 30, 2024, and beating revenue estimates by 6.07% [2] Financial Projections - For the current fiscal year, Corcept is projected to achieve earnings of $1.25 per share on revenues of $683.78 million, reflecting a 32.98% increase in EPS and a 41.75% increase in revenues [3] - The next fiscal year forecasts earnings of $1.67 per share on revenues of $754.7 million, indicating year-over-year changes of 33.76% in EPS and 10.37% in revenues [3] Valuation Metrics - Corcept has a Value Score of D, with Growth and Momentum Scores of B and A, respectively, resulting in a VGM Score of B [6] - The stock trades at 40.1X current fiscal year EPS estimates, significantly higher than the peer industry average of 17.6X, and at 52.3X on a trailing cash flow basis compared to the peer group's average of 9.1X [6] Zacks Rank - Corcept holds a Zacks Rank of 1 (Strong Buy) due to rising earnings estimates, aligning with the recommendation for investors to select stocks with Zacks Rank of 1 or 2 and Style Scores of A or B [7] Industry Comparison - The Medical - Drugs industry is positioned in the top 29% of all industries, suggesting favorable conditions for both Corcept and its peer, Catalyst Pharmaceuticals, Inc. (CPRX), which has a Zacks Rank of 2 (Buy) [9][10]

Core Viewpoint - Corcept Therapeutics (CORT) shares have increased by 4.8% recently, with a mean price target of $74.60 suggesting a potential upside of 56.7% from the current price of $47.62 [1] Price Targets - The mean estimate consists of five short-term price targets with a standard deviation of $5.18, indicating variability among analysts [2] - The lowest estimate of $67 indicates a 40.7% increase, while the highest estimate suggests a surge of 68% to $80 [2] - A low standard deviation signifies a high degree of agreement among analysts regarding price movement [7] Analyst Sentiment - Analysts are optimistic about CORT's earnings prospects, as indicated by upward revisions in earnings estimates [9] - Over the past 30 days, the Zacks Consensus Estimate for the current year has risen by 11.8%, with three estimates moving higher and no negative revisions [10] - CORT holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [11] Caution on Price Targets - While price targets are popular among investors, their reliability has been questioned, as they often mislead rather than guide [5][6] - Analysts may set overly optimistic price targets due to business incentives, which can inflate expectations [6] - Investors should approach price targets with skepticism and not rely solely on them for investment decisions [8]

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Investors might want to bet on Corcept Therapeutics (CORT) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.The upward trend in estimate revisions for this drug developer reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation be ...

Core Insights - Corcept Therapeutics Incorporated (CORT) reported third-quarter 2024 earnings of 41 cents per share, significantly exceeding the Zacks Consensus Estimate of 27 cents, and up from 28 cents per share in the same quarter last year [1] - Revenues for the third quarter increased by 48% year over year to $182.5 million, surpassing the Zacks Consensus Estimate of $172 million, with the revenue solely derived from product sales of the Cushing's syndrome drug, Korlym [1][3] Financial Performance - Revenue from Korlym exceeded the model estimate of $170.3 million [3] - Research and development expenses rose by 30.3% year over year to $59.3 million [3] - Selling, general and administrative expenses increased by approximately 62.7% year over year to $73.7 million [3] - Total operating expenses increased by 47.1% year over year to $135.9 million in the third quarter [3] - Cash and investments as of September 30, 2024, totaled $547.6 million, up from $492.5 million as of June 30, 2024 [4] Guidance and Future Outlook - Corcept raised its revenue guidance for 2024, now expecting total revenues in the range of $675-$700 million, compared to the previous projection of $640-$670 million [5] Pipeline Developments - Corcept's lead pipeline candidate, relacorilant, is currently in phase III of the GRACE study for treating Cushing's syndrome [6] - The GRACE study met its primary endpoint, showing that patients treated with relacorilant experienced loss of blood pressure control compared to placebo [7] - The GRADIENT study is also evaluating relacorilant for patients with Cushing's syndrome caused by adrenal adenoma, with significant improvements noted in hypertension and other symptoms [9][10] - Corcept plans to file a new drug application for relacorilant later in the fourth quarter of 2024, with data from the GRACE study forming the basis for the application [12] Stock Performance - Corcept's shares have increased by 44.4% year to date, contrasting with a 4.3% decline in the industry [3] - Following the earnings announcement, shares fell by 10.5% in after-hours trading on October 30 [2][11]

Corcept Therapeutics Incorporated (NASDAQ:CORT) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET Company Participants Atabak Mokari - Chief Financial Officer Charlie Robb - Chief Business Officer Joe Belanoff - Chief Executive Officer Conference Call Participants David Amsellem - Piper Sandler Matt Kaplan - Ladenburg Swayampakula Ramakanth - H. C. Wainwright Joon Lee - Truist Operator Good day and thank you for standing by. Welcome to the Corcept Therapeutics Conference Call. At this time, all p ...

Corcept Therapeutics (CORT) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 51.85%. A quarter ago, it was expected that this drug developer would post earnings of $0.23 per share when it actually produced earnings of $0.32, delivering a surprise of 39.13%. Over the last four quarters ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________ FORM 10-Q _______________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-50679 ________________ ...

[Corcept Therapeutics Third Quarter 2024 Results](index=1&type=section&id=Corcept%20Therapeutics%20Third%20Quarter%202024%20Results) Corcept Therapeutics reported strong financial performance in Q3 2024 and provided significant updates on its clinical development pipeline [Financial Highlights and Corporate Update](index=1&type=section&id=Financial%20Highlights%20and%20Corporate%20Update) Corcept Therapeutics reported strong Q3 2024 results with a **48%** year-over-year revenue **increase** to **$182.5 million** and raised its full-year 2024 revenue guidance to **$675–$700 million**. Diluted net income per share **grew** to **$0.41**. The company also announced **Positive results** from its Phase 3 GRADIENT trial, which will support the New Drug Application (NDA) for relacorilant, planned for submission this quarter | Metric | Q3 2024 | Q3 2023 | % Change | | :--- | :--- | :--- | :--- | | Revenue | $182.5 million | $123.6 million | +48% | | Diluted EPS | $0.41 | $0.28 | +46% | | Cash & Investments (as of Sep 30, 2024) | $547.6 million | N/A | N/A | - The company **increased** its 2024 revenue guidance from **$640–$670 million** to **$675–$700 million**[1](index=1&type=chunk)[3](index=3&type=chunk) - **Positive results** from the Phase 3 GRADIENT trial will support the New Drug Application (NDA) for relacorilant, which is scheduled for submission this quarter[1](index=1&type=chunk) [Financial Results](index=1&type=section&id=Financial%20Results) In Q3 2024, revenue growth was driven by a record number of Korlym® prescribers and patients. Operating expenses rose to **$135.9 million** from **$92.4 million** in Q3 2023. The company's cash and investments balance **increased** to **$547.6 million**, even after repurchasing **$23.4 million** of its common stock during the quarter - Revenue growth was attributed to an **increase** in Korlym® prescribers and patients, with physicians becoming more aware of hypercortisolism's prevalence[2](index=2&type=chunk) | Financial Item | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Revenue | $182.5 million | $123.6 million | | Operating Expenses | $135.9 million | $92.4 million | | Net Income | $47.2 million | $31.4 million | - Cash and investments **grew** to **$547.6 million** at September 30, 2024, from **$492.5 million** at June 30, 2024. This was after acquiring **$23.4 million** of common stock (870,000 shares) through the company's repurchase program[3](index=3&type=chunk) [Clinical Development](index=1&type=section&id=Clinical%20Development) Corcept is poised for significant clinical milestones in Q4 2024, including the NDA submission for relacorilant for Cushing's syndrome. The company also expects to release pivotal data from its ROSELLA trial in ovarian cancer, the CATALYST study in Cushing's syndrome, and the DAZALS study in ALS by year-end - **Key data readouts expected by year-end include:** - CATALYST study (Cushing's syndrome) - ROSELLA pivotal study (platinum-resistant ovarian cancer) - DAZALS study (amyotrophic lateral sclerosis - ALS)[4](index=4&type=chunk) [Cushing's Syndrome](index=1&type=section&id=Cushing%27s%20Syndrome) The NDA for relacorilant is on track for submission this quarter, supported by **positive data** from the pivotal Phase 3 GRACE trial and the supportive Phase 3 GRADIENT trial. Both studies demonstrated that relacorilant provided clinically meaningful improvements in hypercortisolism symptoms with a favorable safety profile, notably lacking side effects like hypokalemia. The GRADIENT trial showed **statistically significant improvements** in hyperglycemia, weight, and body composition compared to placebo - The pivotal Phase 3 GRACE trial **met its primary endpoint**, demonstrating that relacorilant maintained improvements in hypertension and hyperglycemia[5](index=5&type=chunk)[6](index=6&type=chunk) - The supportive Phase 3 GRADIENT trial confirmed relacorilant's efficacy, showing **statistically significant improvements** versus placebo in glucose metabolism, body weight, and visceral adipose fat[7](index=7&type=chunk)[9](index=9&type=chunk)[10](index=10&type=chunk) - Relacorilant was **well-tolerated** in both GRACE and GRADIENT trials, with no induced instances of hypokalemia, endometrial hypertrophy, adrenal insufficiency, or QT prolongation[5](index=5&type=chunk)[6](index=6&type=chunk)[11](index=11&type=chunk) - Results from the CATALYST study, the largest study of hypercortisolism in patients with difficult-to-control diabetes, are **expected by year-end**[6](index=6&type=chunk)[13](index=13&type=chunk) [Oncology](index=3&type=section&id=Oncology) Enrollment is **complete** in the pivotal Phase 3 ROSELLA trial, which evaluates relacorilant plus nab-paclitaxel in 381 patients with platinum-resistant ovarian cancer. Data on the primary endpoint, progression-free survival, is expected this quarter and could form the basis for relacorilant's next NDA. A Phase 2 trial in early-stage prostate cancer is also ongoing - The pivotal Phase 3 ROSELLA trial in 381 patients with platinum-resistant ovarian cancer has **completed enrollment**[14](index=14&type=chunk) - Progression-free survival data, the primary endpoint for ROSELLA, is expected by the end of the current quarter[14](index=14&type=chunk) [Amyotrophic Lateral Sclerosis (ALS)](index=3&type=section&id=Amyotrophic%20Lateral%20Sclerosis%20(ALS)) The Phase 2 DAZALS trial of dazucorilant in 249 patients with ALS has **completed enrollment**. Following promising results in animal models, data on the trial's primary endpoint—improvement in the ALS Functional Rating Scale-Revised (ALSFRS-R) score—is **expected by the end of the year** - Enrollment is **complete** for the Phase 2 DAZALS trial of dazucorilant in 249 patients with ALS[15](index=15&type=chunk) - Data for the primary endpoint (ALSFRS-R score) is **expected by year-end**[15](index=15&type=chunk) [Metabolic Dysfunction-Associated Steatohepatitis (MASH)](index=3&type=section&id=Metabolic%20Dysfunction-Associated%20Steatohepatitis%20(MASH)) Enrollment is **ongoing** for the Phase 2b MONARCH trial of miricorilant in patients with MASH. This study builds on promising Phase 1b results where miricorilant **rapidly reduced liver fat** and improved key metabolic measures - The Phase 2b MONARCH trial of miricorilant in patients with MASH is **currently enrolling**[16](index=16&type=chunk) - Previous Phase 1b results showed miricorilant **rapidly reduced liver fat**, improved liver health, and was **well-tolerated**[16](index=16&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) This section provides a detailed overview of Corcept's financial position and performance through its condensed consolidated balance sheets and income statements [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2024, Corcept's total assets **increased** to **$784.3 million** from **$621.5 million** at the end of 2023. This growth was primarily driven by a rise in cash and investments to **$547.6 million**. Stockholders' equity also saw substantial growth, reaching **$638.8 million** | (In thousands) | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Cash and investments** | **$547,646** | **$425,397** | | Total assets | $784,257 | $621,517 | | Total liabilities | $145,422 | $114,812 | | **Stockholders' equity** | **$638,835** | **$506,705** | [Condensed Consolidated Statements of Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For the third quarter of 2024, Corcept generated net product revenue of **$182.5 million**, a significant **increase** from **$123.6 million** in the same period last year. Net income for the quarter rose to **$47.2 million** (**$0.41 per diluted share**) from **$31.4 million** (**$0.28 per diluted share**) in Q3 2023. Operating expenses **increased**, driven by higher R&D and SG&A costs Three Months Ended September 30 (in thousands, except per share data) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Product revenue, net | $182,546 | $123,601 | | Total operating expenses | $135,948 | $92,424 | | Income from operations | $46,598 | $31,177 | | **Net income** | **$47,213** | **$31,378** | | **Diluted net income per common share** | **$0.41** | **$0.28** | Nine Months Ended September 30 (in thousands) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Product revenue, net | $493,150 | $346,970 | | Total operating expenses | $381,461 | $271,357 | | **Net income** | **$110,463** | **$74,785** | [Corporate Information and Forward-Looking Statements](index=3&type=section&id=Corporate%20Information%20and%20Forward-Looking%20Statements) This section outlines Corcept's long-standing focus on cortisol modulation and provides cautionary statements regarding future projections and clinical outcomes [About Corcept Therapeutics](index=4&type=section&id=About%20Corcept%20Therapeutics) Corcept Therapeutics has focused on cortisol modulation for over 25 years, discovering **over 1,000 proprietary selective cortisol modulators**. The company commercialized Korlym for Cushing's syndrome in 2012 and is advancing clinical trials in hypercortisolism, solid tumors, ALS, and liver disease - The company's focus on cortisol modulation has led to the discovery of **over 1,000 proprietary selective cortisol modulators**[18](index=18&type=chunk) - Corcept introduced Korlym, its **first FDA-approved medication** for Cushing's syndrome, in February 2012[18](index=18&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This section cautions that statements in the press release regarding future events are subject to risks and uncertainties. Key forward-looking statements include the 2024 revenue guidance, the timing and outcome of the relacorilant NDA submission, and the expected data releases and potential approvals for its clinical programs, including CATALYST, ROSELLA, and DAZALS - Forward-looking statements cover topics such as 2024 revenue guidance, clinical development timelines for relacorilant, dazucorilant, and miricorilant, and the timing of regulatory submissions and data readouts[20](index=20&type=chunk)

Corcept Therapeutics (CORT) shares soared 5.5% in the last trading session to close at $49.75. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.3% gain over the past four weeks.The company’s sole marketed drug, Korlym, approved for treating Cushing's syndrome, is witnessing strong demand and driving growth. Also, a new drug application for the lead candidate, relacorilant, to treat Cushing’s syndrome is expected to be filed lat ...