H.C. Wainwright reaffirms Corcept stock price target after study results
Investing.com
Published Jun 03, 2025 07:33AM ET
On Tuesday, H.C. Wainwright analysts maintained their Buy rating and $145 price target for Corcept Therapeutics stock (NASDAQ:CORT), which currently trades at $71.68. According to InvestingPro data, analysts' targets range from $131 to $145, reflecting strong upside potential for this $7.6 billion market cap company. The reaffirmation follows Corcept's presentation of a complete analysis of its ongoing Phase 3 ROSELLA study at the 2025 annual meeting of the American Society of Clinical Oncology.
The ROSELLA study involves 381 patients and evaluates the efficacy of relacorilant in combination with nab-paclitaxel against nab-paclitaxel monotherapy for treating platinum-resistant, recurrent ovarian cancer. The study's primary endpoint, improved progression-free survival, was successfully achieved through a blinded independent central review. The company's strong execution is reflected in its impressive 30.9% revenue growth over the last twelve months.
Results from the study indicated a statistically significant 30% reduction in the risk of disease progression or death for patients receiving the combination therapy compared to those on nab-paclitaxel monotherapy. Specifically, the combination treatment group experienced a median progression-free survival of 6.5 months, compared to 5.5 months in the monotherapy group.
H.C. Wainwright analysts highlighted the significance of these findings in their decision to maintain their rating and price target for Corcept Therapeutics. The analysts emphasized the potential impact of the study results on Corcept's stock valuation over the next 12 months.
In other recent news, Corcept Therapeutics reported first-quarter earnings per share (EPS) of $0.17, surpassing analyst expectations of $0.14. However, the company's revenue for the quarter was $157.2 million, which fell short of the anticipated $177.9 million. Despite the revenue miss, Corcept maintains its sales guidance for 2025, projecting Korlym sales between $900 million and $950 million. The company also announced positive results from its Phase 3 ROSELLA trial, where relacorilant combined with nab-paclitaxel showed promise as a treatment for platinum-resistant ovarian cancer. The study demonstrated a 30% reduction in the risk of disease progression and an extension in overall survival for patients treated with the combination therapy. Piper Sandler has confirmed its Overweight rating for Corcept, while H.C. Wainwright adjusted its price target to $145, reaffirming a Buy rating. The company is expediting regulatory applications for relacorilant in the U.S. and Europe, aiming to make the treatment available to patients soon. These developments reflect Corcept's strategic focus on expanding its market presence and addressing distribution challenges.
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Written By: Investing.com
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