Corcept Therapeutics

Corcept Therapeutics reports Q3 2024 revenue of $182.5M, up 48% YoY, and increases 2024 revenue guidance to $675-$700M. Net income per share is $0.41 (diluted), with cash and investments at $547.6M. The company plans to submit an NDA for relacorilant this quarter, supported by Phase 3 GRADIENT trial results.

HC Wainwright raised Corcept Therapeutics' price objective from $45.00 to $80.00, maintaining a 'buy' rating. Other firms also adjusted their ratings and targets, resulting in a consensus 'Buy' rating and target price of $65.25. The stock opened at $49.75 with a market cap of $5.18 billion. Corcept Therapeutics reported $0.32 EPS, beating estimates, and had a 39.1% revenue increase. Insiders sold 34,251 shares in the last 90 days, while institutional investors increased their stakes.

Glucocorticoid-induced hypercoagulopathy in endogenous Cushing syndrome (CS) increases thromboembolic risk, with CS patients having an 18-fold higher risk of venous thromboembolism (VTE) compared to the general population. VTE risk is highest postoperatively, with up to 5.6% incidence. Hypercoagulopathy persists post-surgery and improves within 6 months. Relacorilant, a selective glucocorticoid receptor modulator, showed improvements in coagulation markers without undesirable effects, suggesting potential benefits for CS patients, particularly those at high VTE risk.

R.A.S., M.S.T., C.Y., R.N., H.S.R., M.D., A.J.C., E.S.-R., J.C.B., C.O., K.K., A.D.E., C.V., N.W., K.S.A., A.S.C., C.F., C.I., A.T., J.T., K.Y., L.H., K.G., F.M.H., T.S., A.L.A., P.B., P.N., G.L.H., W.F.S., J.P., P.P., A.D.M., D.Y., L.J.v.V., N.M.H., L.J.E. report various institutional research funding, advisory roles, consultancy, honoraria, patents, and stock ownership.