Truist Securities has raised its price target for Corcept Therapeutics, citing strong Korlym sales despite growing competition and the potential of its new drug, relacorilant. The firm believes Corcept could achieve $3 billion in revenue within five years, driven by increased market penetration of relacorilant.
Corcept Therapeutics (CORT) stock surged 6.5% in recent trading, driven by strong demand for its sole marketed drug, Korlym, and anticipation for a new drug application for its lead candidate, relacorilant. The company’s earnings and revenue growth expectations are positive, but analysts recommend monitoring for changes in earnings estimates to assess the stock’s future direction.
