Price Targets Lowered on Corcept Therapeutics (CORT) After FDA Letter

Core Insights - Corcept Therapeutics Incorporated (NASDAQ:CORT) is identified as one of the 12 stocks expected to rebound according to Wall Street analysts [1] - Canaccord Genuity has reduced its price target for Corcept from $140 to $99 while maintaining a Buy rating, following the FDA's Complete Response Letter regarding the New Drug Application for relacorilant [1] - H.C. Wainwright has also lowered its price target from $145 to $90, anticipating a three-year delay in the launch of relacorilant for Cushing's syndrome, now expected in Q1 2029 [3] Business Performance - Despite the FDA's decision, Corcept's Korlym business is performing well, with Canaccord Genuity viewing the recent share sell-off as a buying opportunity due to continued growth prospects for Korlym and its authorized generic version [2] - The Complete Response Letter does not impact the ongoing FDA review of relacorilant for platinum-resistant ovarian cancer, which has a PDUFA date set for July 11, 2026 [4] Company Focus - Corcept Therapeutics is a commercial-stage pharmaceutical company dedicated to developing treatments for serious disorders through cortisol modulation [4]