H.C. Wainwright Cuts Corcept Therapeutics Incorporated (CORT) Price Target, Keeps Buy Rating

Company Overview - Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage pharmaceutical company focused on developing treatments for serious disorders through cortisol modulation [5]. Financial Performance - For Q4 2025, Corcept reported revenue of $202.1 million, which was below the consensus estimate of $254.9 million [2]. - The full-year revenue for 2025 was reported at $761.4 million, falling short of the revised guidance range of $800 million to $850 million [2]. Prescription and Sales Growth - New prescriptions for Corcept's products increased by 61% year-over-year in 2025; however, actual tables sold only saw a 37% increase due to capacity constraints at the previous specialty pharmacy [3]. - Sales of Korlym were impacted during the transition to a new specialty pharmacy, Curant Rare, which began in November 2025 and was completed in January 2026 [3]. Future Guidance - The company provided revenue guidance for 2026 in the range of $900 million to $1 billion, indicating approximately 25% year-over-year growth at the midpoint [4]. - H.C. Wainwright has adjusted its price target for Corcept from $67 to $60, maintaining a Buy rating, reflecting a more cautious outlook for the Korlym franchise [4].