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Here's Why Investors Should Consider Buying Corcept Stock Now
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Corcept Therapeutics’ (CORT - Free Report) sole-marketed drug, Korlym (mifepristone), which is approved for treating Cushing's syndrome, has been performing well. The drug has been witnessing strong demand in the past couple of quarters.
The company is also making good progress with its promising set of pipeline candidates. The successful development and commercialization of its pipeline candidates will be an added boost to the company. Let’s dig deeper.
Reasons to Invest in CORT Stock
Good Rank and Rising Estimates: Corcept currently sports a Zacks Rank #1 (Strong Buy).
In the past 60 days, the Zacks Consensus Estimate for Corcept’s 2024 earnings per share has moved up from $1.07 to $1.12. The same for 2025 has moved up from $1.55 to $1.63.
Shares of Corcept have rallied 44% so far this year against the industry’s decline of 1.2%.
Image Source: Zacks Investment Research
Korlym Fuels Growth: Corcept’s top line solely comprises product sales from Korlym. The drug has been a consistent revenue driver for the company since approval. Korlym enjoys an orphan drug status in the United States and Europe for addressing endogenous Cushing’s syndrome. Sales of the drug increased 39.1% year over year to $310.6 million in the first half of 2024, owing to strong demand and a record number of patients receiving the medication.
Corcept increased its annual revenue guidance for Korlym concurrently with second-quarter results. The company now expects total revenues in the range of $640-$670 million compared with the earlier projection of $620-$650 million for 2024.
Progress With Relacorilant Impressive: Corcept’s lead pipeline candidate, relacorilant, is being evaluated in phase III of the GRACE study to treat Cushing’s syndrome. A new drug application is likely to be submitted in the fourth quarter of 2024. Relacorilant has been designated as an orphan drug for the treatment of Cushing’s syndrome by the FDA and the European Commission.
The candidate is also being investigated in the phase III GRADIENT study for treating patients whose Cushing’s syndrome is caused by adrenal adenoma. Data from the same is expected in the fourth quarter of 2024. The phase III ROSELLA study is evaluating relacorilant in combination with nab-paclitaxel for the treatment of patients with platinum-resistant ovarian cancer, with data from the same expected by 2024-end. Another study is evaluating relacorilant in combination with Keytruda for treating patients with adrenal cancer along with cortisol excess.
Other Pipeline Progressing Well: Other candidates in Corcept’s pipeline include miricorilant and dazucorilant.
The company is evaluating its selective cortisol modulator dazucorilant in the phase II DAZALS study for treating patients with amyotrophic lateral sclerosis, a devastating neuromuscular disorder. Data from the study is expected by 2024-end.
Corcept is evaluating miricorilant in the phase IIb MONARCH study for the treatment of metabolic dysfunction-associated steatohepatitis (MASH). The successful development of miricorilant as a breakthrough treatment for MASH could be a huge boost for the company.
Per management, the MASH market has great potential. It is an advanced form of metabolic dysfunction-associated fatty liver disease.
In the past 60 days, estimates for ANI Pharmaceuticals’ 2024 earnings per share have moved up from $4.53 to $4.81. Earnings per share estimates for 2025 have improved from $5.38 to $5.86. Year to date, shares of ANIP have increased 7.8%.
ANIP’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 31.32%.
In the past 60 days, estimates for Krystal Biotech’s 2024 earnings per share have increased from $1.91 to $2.38. Earnings per share estimates for 2025 have improved from $4.33 to $7.31. Year to date, shares of KRYS have risen 46.3%.
KRYS’ earnings beat estimates in three of the trailing four quarters while missing on the remaining occasion, with the average surprise being 45.95%.
In the past 60 days, estimates for Bioventus’ 2024 earnings per share have increased from 27 cents to 40 cents. Earnings per share estimates for 2025 have improved from 43 cents to 45 cents. Year to date, shares of BVS have risen 123.7%.
BVS’ earnings beat estimates in three of the trailing four quarters while missing on the remaining occasion, the average surprise being 102.86%.
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Here's Why Investors Should Consider Buying Corcept Stock Now
Corcept Therapeutics’ (CORT - Free Report) sole-marketed drug, Korlym (mifepristone), which is approved for treating Cushing's syndrome, has been performing well. The drug has been witnessing strong demand in the past couple of quarters.
The company is also making good progress with its promising set of pipeline candidates. The successful development and commercialization of its pipeline candidates will be an added boost to the company. Let’s dig deeper.
Reasons to Invest in CORT Stock
Good Rank and Rising Estimates: Corcept currently sports a Zacks Rank #1 (Strong Buy).
In the past 60 days, the Zacks Consensus Estimate for Corcept’s 2024 earnings per share has moved up from $1.07 to $1.12. The same for 2025 has moved up from $1.55 to $1.63.
Shares of Corcept have rallied 44% so far this year against the industry’s decline of 1.2%.
Image Source: Zacks Investment Research
Korlym Fuels Growth: Corcept’s top line solely comprises product sales from Korlym. The drug has been a consistent revenue driver for the company since approval. Korlym enjoys an orphan drug status in the United States and Europe for addressing endogenous Cushing’s syndrome. Sales of the drug increased 39.1% year over year to $310.6 million in the first half of 2024, owing to strong demand and a record number of patients receiving the medication.
Corcept increased its annual revenue guidance for Korlym concurrently with second-quarter results. The company now expects total revenues in the range of $640-$670 million compared with the earlier projection of $620-$650 million for 2024.
Progress With Relacorilant Impressive: Corcept’s lead pipeline candidate, relacorilant, is being evaluated in phase III of the GRACE study to treat Cushing’s syndrome. A new drug application is likely to be submitted in the fourth quarter of 2024. Relacorilant has been designated as an orphan drug for the treatment of Cushing’s syndrome by the FDA and the European Commission.
The candidate is also being investigated in the phase III GRADIENT study for treating patients whose Cushing’s syndrome is caused by adrenal adenoma. Data from the same is expected in the fourth quarter of 2024. The phase III ROSELLA study is evaluating relacorilant in combination with nab-paclitaxel for the treatment of patients with platinum-resistant ovarian cancer, with data from the same expected by 2024-end. Another study is evaluating relacorilant in combination with Keytruda for treating patients with adrenal cancer along with cortisol excess.
Other Pipeline Progressing Well: Other candidates in Corcept’s pipeline include miricorilant and dazucorilant.
The company is evaluating its selective cortisol modulator dazucorilant in the phase II DAZALS study for treating patients with amyotrophic lateral sclerosis, a devastating neuromuscular disorder. Data from the study is expected by 2024-end.
Corcept is evaluating miricorilant in the phase IIb MONARCH study for the treatment of metabolic dysfunction-associated steatohepatitis (MASH). The successful development of miricorilant as a breakthrough treatment for MASH could be a huge boost for the company.
Per management, the MASH market has great potential. It is an advanced form of metabolic dysfunction-associated fatty liver disease.
Other Stocks to Consider
Some other top-ranked stocks in the drug/biotech sector are ANI Pharmaceuticals, Inc. (ANIP - Free Report) , Krystal Biotech, Inc. (KRYS - Free Report) and Bioventus Inc. (BVS - Free Report) , each sporting a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for ANI Pharmaceuticals’ 2024 earnings per share have moved up from $4.53 to $4.81. Earnings per share estimates for 2025 have improved from $5.38 to $5.86. Year to date, shares of ANIP have increased 7.8%.
ANIP’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 31.32%.
In the past 60 days, estimates for Krystal Biotech’s 2024 earnings per share have increased from $1.91 to $2.38. Earnings per share estimates for 2025 have improved from $4.33 to $7.31. Year to date, shares of KRYS have risen 46.3%.
KRYS’ earnings beat estimates in three of the trailing four quarters while missing on the remaining occasion, with the average surprise being 45.95%.
In the past 60 days, estimates for Bioventus’ 2024 earnings per share have increased from 27 cents to 40 cents. Earnings per share estimates for 2025 have improved from 43 cents to 45 cents. Year to date, shares of BVS have risen 123.7%.
BVS’ earnings beat estimates in three of the trailing four quarters while missing on the remaining occasion, the average surprise being 102.86%.