U.S. markets closed
  • S&P Futures

    3,722.00
    -10.00 (-0.27%)
     
  • Dow Futures

    29,684.00
    -66.00 (-0.22%)
     
  • Nasdaq Futures

    11,510.50
    -45.25 (-0.39%)
     
  • Russell 2000 Futures

    1,716.70
    -4.10 (-0.24%)
     
  • Crude Oil

    82.02
    -0.13 (-0.16%)
     
  • Gold

    1,661.50
    -8.50 (-0.51%)
     
  • Silver

    18.73
    -0.15 (-0.82%)
     
  • EUR/USD

    0.9685
    -0.0054 (-0.55%)
     
  • 10-Yr Bond

    3.7050
    -0.2590 (-6.53%)
     
  • Vix

    30.18
    -2.42 (-7.42%)
     
  • GBP/USD

    1.0805
    -0.0080 (-0.74%)
     
  • USD/JPY

    144.2230
    +0.1010 (+0.07%)
     
  • BTC-USD

    19,420.00
    +532.28 (+2.82%)
     
  • CMC Crypto 200

    444.28
    +15.50 (+3.61%)
     
  • FTSE 100

    7,005.39
    +20.80 (+0.30%)
     
  • Nikkei 225

    26,340.68
    +166.70 (+0.64%)
     

Corcept (CORT) Up More Than 20% in Past 3 Months: Here's Why

·3 min read

Shares of Corcept Therapeutics Incorporated CORT have rallied 22.1% in the past three months compared with the industry’s rise of 6.9%.

Corcept’s only marketed drug, Korlym, is approved for the once-daily oral treatment of hyperglycemia — secondary to hypercortisolism — in adult patients with endogenous Cushing’s syndrome who are suffering from type II diabetes or glucose intolerance and have already failed surgery or are unsuitable for the same. The company has made good progress during this period with Korlym, which has been a consistent revenue driver since its approval.

The company’s top line solely comprises Korlym sales, which witnessed a year-over-year increase during the first six months of 2022.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Corcept’s lead pipeline candidate, relacorilant, is being evaluated in the phase III GRACE study to treat Cushing’s syndrome. A new drug application for relacorilant is expected to be submitted in the second half of 2023.

Relacorilant is also being investigated in phase III of the GRADIENT study in patients whose Cushing’s syndrome is caused by adrenal adenoma.

A phase Ib study is evaluating relacorilant in combination with Merck’s MRK PD-1 checkpoint inhibitor, Keytruda (pembrolizumab), for treating patients suffering from adrenal cancer along with cortisol excess.

Merck’s biggest revenue generator, Keytruda, is approved for treating several types of cancer indications. MRK continues to study Keytruda for addressing more cancer indications.

Relacorilant, in combination with nab-paclitaxel, is also being evaluated in the phase III ROSELLA study for the treatment of patients with platinum-resistant ovarian cancer.

Corcept’s other pipeline candidates are also progressing well.

The company is evaluating miricorilant in the phase II GRATITUDE study for treating the reversal of antipsychotic-induced weight gain (“AIWG”). The phase II GRATITUDE 2 study is investigating miricorilant to reverse long-standing AIWG. Data from both studies are expected by the end of 2022.

CORT is conducting a phase Ib dose-finding study investigating miricorilant in patients with presumed non-alcoholic steatohepatitis. Data from the same is also expected in the fourth quarter of 2022.

The successful development and potential approval of other candidates will lend a big boost to Corcept and likely lower its dependence on Korlym.

Corcept is riding on the success of Korlym, which has seen a strong uptake so far. However, the company remains heavily dependent on Korlym for growth. Moreover, its pipeline is still some years away from commercialization. Hence, a decline in Korlym sales will significantly hurt the company’s prospects.

Corcept Therapeutics Incorporated Price

Corcept Therapeutics Incorporated Price
Corcept Therapeutics Incorporated Price

Corcept Therapeutics Incorporated price | Corcept Therapeutics Incorporated Quote

Zacks Rank & Stocks to Consider

Corcept currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same sector are Ayala Pharmaceuticals, Inc. AYLA and Fusion Pharmaceuticals Inc. FUSN, both carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Ayala Pharmaceuticals’ loss per share estimates have narrowed 8.6% for 2022 and 17.5% for 2023 in the past 60 days.

Earnings of Ayala Pharmaceuticals surpassed estimates in each of the trailing four quarters. AYLA delivered an earnings surprise of 9.91%, on average.

Fusion Pharmaceuticals’ loss per share estimates have narrowed 8.5% for 2022 and 14.8% for 2023 in the past 60 days.

Earnings of Fusion Pharmaceuticals surpassed estimates in each of the trailing four quarters. FUSN delivered an earnings surprise of 16.22%, on average.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Merck & Co., Inc. (MRK) : Free Stock Analysis Report
 
Corcept Therapeutics Incorporated (CORT) : Free Stock Analysis Report
 
Fusion Pharmaceuticals Inc. (FUSN) : Free Stock Analysis Report
 
Ayala Pharmaceuticals, Inc. (AYLA) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research