Canaccord Genuity analyst Edward Nash maintained a Buy rating on Corcept Therapeutics (CORT – Research Report) yesterday and set a price target of $130.00.
Edward Nash’s rating is based on the recent updates to Corcept Therapeutics’ Phase III ROSELLA trial, which have been positively received. The trial’s design was adjusted to include overall survival as a primary endpoint alongside progression-free survival, providing two opportunities for success. This strategic change, endorsed by regulatory agencies, does not delay the expected readout or potential NDA filing, maintaining the original timeline. The trial’s robust design, with significant statistical power, enhances the likelihood of demonstrating meaningful differences between treatment arms. Additionally, Corcept’s drug, Relacorilant, has shown promising Phase II results and targets the entire platinum-resistant ovarian cancer market, unlike competitors that focus on specific sub-groups. These factors contribute to a strong outlook for Corcept, justifying the Buy rating despite recent stock volatility.
Nash covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics, Madrigal Pharmaceuticals, and Travere Therapeutics. According to TipRanks, Nash has an average return of 14.0% and a 43.04% success rate on recommended stocks.