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Corcept Therapeutics Incorporated (CORT) Stock

Corcept Therapeutics Incorporated Stock Details, Movements and Public Alerts

Corcept Therapeutics Inc (CORT): The Cushing's Syndrome Pioneer Awaiting Two FDA Decisions That Could Triple Revenues

Joseph Belanoff founded Corcept Therapeutics with a singular focus: treating diseases caused by excess cortisol. Twenty years later, Korlym remains the only FDA-approved drug for Cushing's syndrome, generating an estimated $857 million in 2025 sales. But the real story unfolds in late 2025 and mid-2026, when the FDA rules on relacorilant—Corcept's next-generation cortisol modulator targeting both Cushing's syndrome (PDUFA December 30, 2025) and platinum-resistant ovarian cancer (PDUFA July 11, 2026). Q1 2025 pharmacy distribution bottlenecks temporarily suppressed Korlym growth, but Q2 recovery suggests back-half acceleration. With a forward P/E of 25.84 (compressed from current 74.91), the market is pricing in dual FDA approvals that could expand addressable markets from thousands to tens of thousands of patients across oncology and rare diseases.

52-Week Range

$117.33 - $49.00

-30.42% from high · +66.61% from low

Avg Daily Volume

1,004,439

20-day average

100-day avg: 834,734

Fundamentals

Valuation Metrics

P/E Ratio (TTM)

95.00

Above market average

Forward P/E

37.88

Earnings expected to grow

PEG Ratio

0.61

Potentially undervalued

Price to Book

13.76

EV/EBITDA

122.75

EPS (TTM)

$0.87

Price to Sales

11.75

Beta

0.20

Less volatile than market

Q:How is CORT valued relative to its earnings and growth?
Corcept Therapeutics Incorporated trades at a P/E ratio of 95.00, which is above the market average of approximately 20. This premium valuation suggests investors expect above-average growth or the company has competitive advantages justifying the higher multiple. Looking ahead, the forward P/E of 37.88 is lower than the current P/E, indicating analysts expect earnings to grow over the next year. The PEG ratio of 0.61 suggests the stock may be undervalued relative to its growth rate.
Q:What is CORT's risk profile compared to the market?
With a beta of 0.20, Corcept Therapeutics Incorporated is less volatile than the overall market. This means when the market moves up or down by 10%, this stock typically moves less than 10% in the same direction. Lower beta stocks are often preferred by conservative investors seeking stability. The price-to-book ratio of 13.76 shows investors value the company above its book value, which often reflects intangible assets or growth prospects.

Performance & Growth

Profit Margin

14.30%

Operating Margin

4.92%

EBITDA

$66.71M

Return on Equity

16.70%

Return on Assets

5.10%

Revenue Growth (YoY)

13.70%

Earnings Growth (YoY)

-61.00%

Q:How profitable and efficient is CORT's business model?
Corcept Therapeutics Incorporated achieves a profit margin of 14.30%, meaning it retains $14.30 from every $100 in revenue after all expenses. This represents a solid margin typical of well-run businesses, showing the company can effectively balance revenue generation with cost control. The operating margin of 4.92% reveals how efficiently the company runs its core business operations before interest and taxes. With ROE at 16.70% and ROA at 5.10%, the company generates strong returns on invested capital.
Q:What are CORT's recent growth trends?
Corcept Therapeutics Incorporated's revenue grew by 13.70% year-over-year, showing steady progress in growing the business. This positive trajectory indicates the company maintains competitive positioning in its markets. Earnings decreased by 61.00% year-over-year, reflecting the bottom-line impact of business performance. These growth metrics should be evaluated against BIOTECHNOLOGY industry averages for proper context.

Company Size & Market

Market Cap

$8.7B

Revenue (TTM)

$741.17M

Revenue/Share (TTM)

$7.14

Shares Outstanding

105.19M

Book Value/Share

$6.01

Asset Type

Common Stock

Q:What is CORT's market capitalization and position?
Corcept Therapeutics Incorporated has a market capitalization of $8.7B, classifying it as a mid-cap stock ($2B-$10B). Mid-caps often represent companies in their growth phase, offering higher growth potential than large-caps but with more stability than small-caps. They can be attractive takeover targets and may become tomorrow's large-caps. With 105.19M shares outstanding, the company's ownership is relatively concentrated. As a participant in the BIOTECHNOLOGY industry, it competes with other firms in this sector.
Q:How does CORT's price compare to its book value?
Corcept Therapeutics Incorporated's book value per share is $6.01, while the current stock price is $81.64, resulting in a price-to-book (P/B) ratio of 13.58. This high P/B ratio indicates significant intangible assets, strong brand value, or high growth expectations. Technology and consumer brand companies often trade at elevated P/B ratios due to intellectual property and competitive advantages not reflected on the balance sheet. As a common stock, this represents equity ownership with voting rights.

Analyst Ratings

Analyst Target Price

$127.20

55.81% upside potential

Analyst Recommendations

Strong Buy

1

Buy

3

Hold

1

Sell

0

Strong Sell

0

Q:How reliable are analyst predictions for CORT?
5 analysts cover CORT with 80% recommending buy/strong buy ratings. Analyst predictions have mixed reliability - studies show consensus rarely beats market returns consistently. The strong bullish consensus may already be priced in. The consensus target of $127.20 implies 55.8% upside, but targets are often adjusted to follow price moves rather than predict them.
Q:What is the Wall Street consensus on CORT?
Current analyst recommendations:1 Strong Buy, 3 Buy, 1 Hold, 00The bullish tilt suggests optimism about future prospects, though investors should conduct independent research.Remember that analyst opinions often lag price movements and can be influenced by investment banking relationships.

Fundamentals last updated: Dec 29, 2025, 02:05 AM

Technical Indicators

RSI (14-day)

51.51

Neutral

50-Day Moving Average

$78.66

3.79% above MA-50

200-Day Moving Average

$73.84

10.56% above MA-200

MACD Line

1.18

MACD Signal

1.62

MACD Histogram

-0.44

Bearish

Q:What does CORT's RSI value tell investors?
The RSI (Relative Strength Index) for CORT is currently 51.51, indicating the stock is in neutral territory (40-60 range). Neither buyers nor sellers have clear control, suggesting consolidation or balanced market forces. Combined with the price being above the 50-day moving average, this confirms bullish conditions.
Q:How should traders interpret CORT's MACD and moving average crossovers?
MACD analysis shows the MACD line at 1.18 below the signal line at 1.62, with histogram at -0.44. This bearish crossover indicates downward pressure. The 50-day MA ($78.66) is above the 200-day MA ($73.84), forming a golden cross pattern that typically signals a long-term uptrend. Price is currently above both MAs, confirming strength.

Indicators last updated: Dec 29, 2025, 02:10 PM

Active Alerts

Alert Condition
Price decreases by
Threshold
7%
Created
Dec 25, 2025, 04:09 PM
Alert Condition
MA Breakout (Bearish)
Threshold
50 days
Created
Dec 22, 2025, 04:03 PM
Alert Condition
Forward P/E falls below
Threshold
33.86 x
Created
Dec 18, 2025, 04:56 PM

Corcept Therapeutics Inc (CORT) Stock Analysis 2025: Complete Investment Guide

Corcept Therapeutics operates in the rarest of biotech categories: commercially profitable with binary catalysts. CEO Joseph Belanoff's Korlym monopoly in Cushing's syndrome generates $850-900 million in 2025 revenue, funding the relacorilant pipeline without dilutive financings. Two FDA decisions loom: Cushing's syndrome approval on December 30, 2025, and ovarian cancer approval on July 11, 2026. Approvals could triple addressable patient populations and validate cortisol modulation across oncology. The forward P/E collapse from 74.91 to 25.84 reflects the market discounting success—creating asymmetric risk/reward for investors willing to navigate the binary outcomes.

Business Model & Competitive Moat

Corcept develops and commercializes cortisol modulators—drugs that block cortisol's harmful effects without eliminating the hormone entirely. The company's sole marketed product, Korlym (mifepristone), treats Cushing's syndrome, a rare endocrine disorder where excess cortisol production causes weight gain, hypertension, diabetes, and mental health issues. Korlym reached $857 million in estimated 2025 sales despite treating only 2,000-3,000 patients, demonstrating pricing power in ultra-rare diseases.

The competitive moat rests on two pillars: Korlym's orphan drug exclusivity (no FDA-approved competitors) and Joseph Belanoff's deep cortisol biology expertise. Relacorilant represents a next-generation molecule with improved selectivity—fewer off-target hormonal effects than Korlym, potentially enabling higher dosing and broader applications. The ovarian cancer indication leverages cortisol's role in chemoresistance—blocking cortisol could re-sensitize tumors to taxane chemotherapy, expanding Corcept beyond rare diseases into a $2 billion+ oncology market.

Financial Performance

  • •2025 Revenue Guidance: $850-900M (previously $900-950M); Q1 pharmacy bottleneck caused revision
  • •Korlym Sales: $857M estimated 2025 (+27% YoY); Q2 recovery after Q1 distribution issues
  • •Profitability: No P/E data suggests losses or volatile earnings; forward P/E 25.84 implies FY2026-2027 profitability
  • •Cash Position: Profitable Korlym franchise eliminates need for dilutive raises; self-funding pipeline
  • •Valuation Gap: Current P/E 74.91 vs. forward 25.84 reflects market pricing relacorilant approval scenarios

Growth Catalysts

  • •Relacorilant Cushing's Approval (Dec 30, 2025): FDA decision could validate improved safety/efficacy vs. Korlym, driving replacement cycle
  • •Relacorilant Ovarian Cancer (July 11, 2026): Approval unlocks 15,000+ platinum-resistant patients annually in U.S. alone
  • •Korlym Prescription Acceleration: Management expects H2 2025 significant growth after Q1 pharmacy capacity resolution
  • •Dazucorilant ALS Program: Cortisol modulation in ALS represents novel mechanism; early-stage optionality
  • •Miricorilant MASH: Targets metabolic dysfunction-associated steatohepatitis—massive addressable market if successful

Risks & Challenges

  • •Binary FDA Risk: Negative Cushing's or ovarian cancer decisions could crater stock 40-60% in single sessions
  • •Commercial Execution: Relacorilant approval requires new salesforce build and KOL education in oncology (unfamiliar territory)
  • •Korlym Patent Cliff: Key patents expiring mid-2030s; generic competition could erode cash cow within decade
  • •Small Patient Populations: Even with approvals, Cushing's + ovarian indications total <20K patients—limited by rare disease economics
  • •High Current Valuation: 74.91 P/E reflects optimism; any pipeline setbacks trigger multiple compression

Competitive Landscape

Corcept faces no direct competitors in Cushing's syndrome—Korlym's orphan exclusivity and clinical entrenchment create a monopoly. The ovarian cancer landscape is crowded with chemotherapy combinations, PARP inhibitors (AstraZeneca's Lynparza, GSK's Zejula), and antibody-drug conjugates. Relacorilant's cortisol modulation mechanism is differentiated but unproven commercially in oncology.

CompanyDrug/CandidateIndicationStatusMechanism
Corcept (CORT)KorlymCushing'sMarketed ($857M)Cortisol modulator
Corcept (CORT)RelacorilantCushing'sPDUFA Dec 30, 2025Next-gen cortisol mod
Corcept (CORT)RelacorilantOvarian cancerPDUFA July 11, 2026Chemo sensitizer
AstraZenecaLynparzaOvarian cancerMarketedPARP inhibitor
GSKZejulaOvarian cancerMarketedPARP inhibitor

Joseph Belanoff's competitive positioning relies on pioneering a novel mechanism (cortisol modulation) in under-served markets. If relacorilant succeeds in ovarian cancer, it validates the platform for expansion into breast, lung, and prostate cancers where cortisol plays roles in treatment resistance. The December 2025 and July 2026 FDA decisions represent existential inflection points—approval transforms Corcept from niche rare disease player to diversified oncology platform.

Who Is This Stock Suitable For?

Perfect For

  • ✓High-risk biotech investors comfortable with binary FDA approval outcomes
  • ✓Event-driven traders targeting Dec 2025/July 2026 PDUFA catalysts
  • ✓Small-cap growth allocations (1-3% position sizing for volatility management)
  • ✓Investors seeking asymmetric risk/reward in profitable rare disease biotechs

Less Suitable For

  • ✗Risk-averse portfolios (binary events create 40-60% drawdown risk)
  • ✗Income investors (no dividend)
  • ✗Value investors uncomfortable with 74.91 P/E pre-approval
  • ✗Short-term holders unable to wait through 2025-2026 FDA timelines

Investment Thesis

Corcept Therapeutics offers rare biotech exposure: profitable operations funding binary catalysts. Joseph Belanoff's $857 million Korlym franchise provides downside support while relacorilant's dual PDUFA dates (December 30, 2025, and July 11, 2026) create asymmetric upside. The forward P/E compression from 74.91 to 25.84 suggests the market is pricing ~70-80% probability of dual approvals. If both succeed, addressable patients expand from 3,000 (Cushing's) to 18,000+ (Cushing's + platinum-resistant ovarian), potentially doubling revenues by 2027.

The bear case centers on FDA rejection and limited commercial potential. Negative Cushing's data would eliminate near-term upside, leaving Corcept reliant on Korlym's slow growth. Ovarian cancer failure questions the cortisol modulation platform beyond rare diseases. However, Belanoff's track record (Korlym approval in 2012, commercial execution) de-risks execution. For biotech investors seeking event-driven catalysts with profitable downside protection, CORT's dual PDUFA setup offers calculated speculation. Position sizing is critical—treat as 1-3% allocation capable of 3-5x upside but accepting 40% downside if approvals fail.

Conclusion

Corcept is a SPECULATIVE BUY for aggressive biotech allocations (1-3% position sizing). The Dec 2025/July 2026 PDUFA dates create defined catalysts with asymmetric payoff if both succeed. Profitable Korlym base provides partial downside cushion unlike cash-burning biotechs. Scale in over multiple tranches approaching catalysts—avoid full position pre-data given binary risk. Monitor FDA Advisory Committee meetings and any pre-PDUFA communications as decision signals.
Bull Case
$90 (100%+ upside) — Dual FDA approvals, Korlym accelerates, dazucorilant/miricorilant advance, oncology platform validated
Base Case
$55 (20% upside) — Cushing's approved, ovarian delayed but positive signals, Korlym steady growth continues
Bear Case
$25 (45% downside) — One or both FDA rejections, Korlym growth stalls, platform questioned, Korlym generic threats emerge early

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