Time New York: Fri 03 Jul 18:18 pm  |  Save 15% on H&R Block Online


Corcept Therapeutics, Inc. (CORT) Downgraded by Zacks to NEUTRAL

Zacks Zacks Investment Research downgraded shares of Corcept Therapeutics, Inc. (CORT) from OUTPERFORM to NEUTRAL on March 20, 2015, with a target price of $6.25.

Corcept posted a loss of $0.03 per share in the fourth quarter of 2014, narrower than the Zacks Consensus Estimate of a loss of $0.06 and a loss of $0.10 in the year-ago quarter. Corcept generated revenues of $9.0 million, up 119% year over year. Corcept's Korlym is approved as a once-daily oral medication for treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type II diabetes mellitus or glucose intolerance. We are positive on the growth prospects of Korlym and Corcept's efforts on label expansion of the drug. However, we would like to wait and watch how the expansion efforts work out. Hence, we downgrade our recommendation to Neutral.

To get a free copy of the research report on Corcept Therapeutics, Inc. (CORT), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com .

<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.