Corcept Therapeutics (CORT): Assessing Valuation After Revenue Outlook Revision and Growth in Korlym Prescriptions

Corcept Therapeutics (CORT) has adjusted its revenue outlook for 2025, citing capacity constraints with a previous specialty pharmacy vendor. This adjustment comes as new prescriptions for Korlym continue to increase in its hypercortisolism segment.

See our latest analysis for Corcept Therapeutics.

Corcept’s revenue guidance revision comes after strong momentum in both its core business and share price. Despite recent insider selling and mixed third-quarter results, the stock has delivered a 59.7% year-to-date share price return. Its three-year total shareholder return of 219% indicates that long-term growth potential remains a consideration.

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With analyst price targets well above current levels, along with strong growth in both revenue and new prescriptions, is Corcept Therapeutics undervalued at today’s share price or has the market already priced in its potential upside?

Most Popular Narrative: 40.7% Undervalued

The latest widely followed narrative pegs Corcept Therapeutics’ fair value at $134.50, which stands far above the last close of $79.80. This gap invites close attention to the ambitious growth expectations baked into the consensus fair value estimate.

The publication of the CATALYST study and the resulting increased awareness and screening for hypercortisolism among physicians are expanding the potential addressable patient pool. This is expected to drive significant acceleration in revenue growth over the next several years.

Read the complete narrative.

Want to know the bold growth assumptions powering this valuation? The narrative hinges on rapid sales expansion, margin transformation, and aggressive earnings projections few companies can match. Dive in to see the exact levers propelling this price target. Discover if you agree with the aggressive forecast.

Result: Fair Value of $134.50 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, heavy reliance on Korlym and potential setbacks in upcoming regulatory approvals could undermine the company’s projected growth trajectory in the coming years.

Find out about the key risks to this Corcept Therapeutics narrative.

Another View: What Do the Multiples Say?

Shifting from price targets to industry comparisons, Corcept Therapeutics trades at a price-to-earnings ratio of 80.2x, which is far higher than both the Pharmaceuticals industry average of 20.6x and its peer average of 35.6x. Even compared to a fair ratio of 68.5x, the current valuation remains stretched. For investors, could this signal more risk if high growth expectations are not met?

See what the numbers say about this price — find out in our valuation breakdown.

Build Your Own Corcept Therapeutics Narrative

If you have a different perspective or want to see how your own analysis compares, you can quickly put together your own narrative and get fresh insights in just a few minutes. Do it your way

A great starting point for your Corcept Therapeutics research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.

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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.

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