Corcept Therapeutics Inc Dossier
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SectorHealth Care IndustryBiotechnology Beta (adjusted)0.66 Intrinsic Value $17.02median of 5 methods · middle span $9-$27based on filings through 30 Jun 2026 Market Price $114.03Price as of 1 Oct 2026 Significantly overvaluedIntrinsic value is 85% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% marker beyond scale (-85%) Data confidence Sign in to view data confidence Market Cap $12.3B Enterprise Value $12.2B Shares Outstanding 116.1M diluted Moat Rating None Next Earnings Date4 Nov 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Corcept has converted relacorilant into a second commercial franchise through the March 2026 FDA approval of Lifyorli, with more than 1,300 patients starting treatment by the second-quarter update. The pivotal ROSELLA study demonstrated a statistically significant overall-survival benefit, and the regimen was identified by Corcept as a preferred NCCN regimen. The principal near-term upside catalyst is the resubmitted Cushing syndrome NDA, while dazucorilant's durable ALS survival signal supplies longer-duration optionality. The rating remains event-risk-sensitive because the Cushing application previously received a Complete Response Letter and the ALS study did not meet its original primary endpoint. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$50.00 Mean target$135.25 High · most bullish analyst$165.00 Street targets sit above today's price; our intrinsic value sits below it. Different horizons, different questions. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $50.0020% Lifyorli adoption loses momentum after the initial launch cohort, the FDA again declines to approve relacorilant for Cushing syndrome, and the DAZALS survival observation does not translate into a successful registrational pathway. This would leave the investment case more dependent on the existing endocrinology franchise and a narrower oncology opportunity. Base CaseCentral scenario $135.2550% Matches the consensus meanLifyorli establishes a meaningful oncology franchise supported by ROSELLA's survival benefit, while the Cushing NDA remains the major binary catalyst and ALS contributes only limited option value pending a confirmatory program. Bull CaseUpside scenario $165.0030% Lifyorli adoption continues to accelerate from the disclosed base of more than 1,300 patient starts, the resubmitted Cushing syndrome NDA is approved after its expected six-month review, and the unusually strong DAZALS survival follow-up supports advancement into a registrational program. This scenario assumes multiple independent clinical and commercial catalysts reinforce one another. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |