Wall Street Firms Tout Corcept Therapeutics Incorporated (CORT) Prospects on Korlym Medication Prospects

Corcept Therapeutics Incorporated (NASDAQ:CORT) is one of the best biotech stocks to buy according to Wall Street analysts. On November 25, H.C. Wainwright reiterated a Buy rating and a $145 price target on the stock, citing its strong growth prospects despite commercial challenges.

The research firm has reiterated its confidence in the company’s Korlym medication, whose sales are projected to grow by 19% to 26% year over year, affirming the underlying strong demand. Volume has increased by 40% over the past two quarters, and the company is poised to meet its guidance of $800-$850 million.

Likewise, Corcept is a Buy owing to a strong balance sheet that supports the launch of two products next year. The company is on the cusp of launching relacorilant for Cushing’s syndrome, with sales expected to reach $4.3 billion by 2034.

On November 17, Wolfe Research began coverage of Corcept Therapeutics (NASDAQ: CORT) with a Peer Perform rating and said it expects the stock to trade in the $70- $75 range until the company’s patent litigation and antitrust cases are settled. Analyst Kalpit Patel pointed to these legal issues as near-term hurdles but also noted the potential boost from relacorilant, which has a PDUFA date for hypercortisolism on December 30, 2025. Although the firm sees promise in the drug, Wolfe Research remains more cautious on its peak sales outlook than the broader market.

Corcept Therapeutics Incorporated (NASDAQ:CORT) develops drugs that modulate the stress hormone cortisol to treat severe metabolic, oncologic (cancer), and neuropsychiatric disorders, with their first approved drug, Korlym, treating Cushing’s Syndrome, and their pipeline exploring treatments for cancers, ALS, and liver diseases.

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Disclosure: None. This article is originally published at Insider Monkey.