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    Did FDA Uncertainty Around Relacorilant Just Shift Corcept Therapeutics' (CORT) Investment Narrative?

    Simply Wall St·12/25/2025 20:23:21
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    • Earlier this week, Corcept Therapeutics faced heightened scrutiny as investors reacted to the upcoming U.S. FDA decision on relacorilant, a drug application supported by one successful and one unsuccessful late-stage trial, while analysts reassessed the company’s revenue outlook.
    • This tension highlights how a single high-stakes regulatory call on relacorilant could meaningfully affect Corcept’s efforts to broaden its business beyond its current core franchise.
    • Now we’ll examine how the FDA uncertainty around relacorilant reshapes Corcept’s investment narrative built on future approvals and diversification.

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    Corcept Therapeutics Investment Narrative Recap

    To own Corcept today, you have to believe its core hypercortisolism franchise can support the business while the pipeline, led by relacorilant, gradually broadens the revenue base. The upcoming FDA decision on relacorilant is now the clear near term catalyst and also the biggest risk, because a rejection would slow diversification and leave Corcept more exposed to pricing and patent pressures around Korlym.

    The recent share pullback came as investors focused on that FDA risk and analysts cut sales expectations, adding pressure to a stock that has already rerated higher this year. UBS’s new Neutral rating and comments that the current price already reflects growth in both hypercortisolism and platinum resistant ovarian cancer show how tightly relacorilant’s regulatory outcome is tied to Corcept’s investment case right now.

    Yet investors should also be aware that if the FDA decision on relacorilant is less favorable than hoped, the company’s heavy reliance on Korlym and its authorized generic could...

    Read the full narrative on Corcept Therapeutics (it's free!)

    Corcept Therapeutics' narrative projects $2.0 billion revenue and $743.0 million earnings by 2028.

    Uncover how Corcept Therapeutics' forecasts yield a $127.20 fair value, a 52% upside to its current price.

    Exploring Other Perspectives

    CORT 1-Year Stock Price Chart
    CORT 1-Year Stock Price Chart

    Ten fair value estimates from the Simply Wall St Community span roughly US$74 to US$260 per share, underscoring how far apart individual views can be. When you set those against the binary FDA risk around relacorilant, it becomes even more important to weigh several perspectives on how a single decision could shape Corcept’s earnings mix and resilience.

    Explore 10 other fair value estimates on Corcept Therapeutics - why the stock might be worth 11% less than the current price!

    Build Your Own Corcept Therapeutics Narrative

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.