Piper Sandler raised the firm’s price target on Corcept Therapeutics to $38 from $35 given higher Cushing’s syndrome franchise sales estimates, while keeping an Overweight rating on the shares following quarterly results. The firm notes management raised its 2024 Korlym sales guidance range to $640M-$670M, up from $620M-$650M, implying growth versus 2023 of 36% at the midpoint. Piper believes Corcept is well-positioned for considerable longer-term EBITDA growth.
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