Corcept Therapeutics Incorporated (CORT) Stock

Corcept Therapeutics Incorporated (CORT) is a Healthcare stock trading at $122.25 (as of 2026-08-21), with a market capitalization of $13.22B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery. It is developing relacorilant to treat patients with Cushing's syndrome; and nab-paclitaxel in combination with relacorilant, which has completed Phase II clinical trial to treat patients with advanced ovarian tumors, as well as for the treatment of cortisol excess. The company is also developing selective cortisol modulator to treat patients with metastatic castration-resistant prostate cancer; selective cortisol modulator for the treatment of antipsychotic-induced weight gain and other disorders; and FKBP5 gene expression assays. Corcept Therapeutics Incorporated was incorporated in 1998 and is headquartered in Menlo Park, California.

Understand Corcept Therapeutics Incorporated: how it makes money

Corcept Therapeutics develops and commercializes drugs for severe metabolic, oncologic, and neuropsychiatric disorders, with Korlym (mifepristone) sold as a once-daily oral treatment for hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome; it also is developing relacorilant and nab-paclitaxel in combination.

For Corcept, near-term profit is driven by Korlym Product Revenue, Net, which management tracks operationally through the number of Paying Patients on Therapy.

Business quality (Weak): Specialty pharma profile with very high gross margin (98.3%), but the company is operating at a loss (operating margin -30.1%), so execution on commercial uptake and development progress is critical.

Valuation: At 228× earnings, CORT trades 1256% above the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

  • Korlym is an established, once-daily oral therapy: The company commercializes Korlym for adult patients with endogenous Cushing's syndrome who have failed surgery or are not candidates for surgery.
  • Clinical signals for relacorilant include improved overall and progression-free survival versus control: Provided metrics show Overall Survival Hazard Ratio Versus Control of 0.65, and Progression-Free Survival Hazard Ratio Versus Control of 0.7, alongside Median Overall Survival (Relacorilant Arm) of 16.0 versus 11.9 in the control arm.
  • Commercial traction is measurable through a defined operating KPI: The company tracks Paying Patients on Therapy (3,250.0), which aligns with how Korlym is monetized (Product Revenue, Net).

Bear case

  • Operating losses: The latest quarter shows operating margin of -30.1%, indicating costs exceed operating revenue.
  • Pipeline and trial outcomes create uncertainty: Relacorilant development progress is supported by specific trial metrics (for example, ROSELLA and related enrollment counts), but clinical programs can still fail to lead to approvals or durable benefit beyond the reported measures.
  • The profit model appears tightly linked to Korlym monetization: Within the provided facts, Product Revenue, Net (0.16 B) is a major contributor to the latest-quarter revenue (0.2 B), so unfavorable commercial dynamics could pressure results.
Valuation — source: SEC EDGAR (first-party)
Price$122.25
Market Cap$13.22B
Price / Book18.72
Price / Sales16.65
FCF Yield0.6%
DCF Value (model)$42.82
DCF Upside vs Price-65.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$761.41M
Net Margin13.1%
Revenue Growth (YoY)12.8%
EPS Growth (YoY)-29.6%
FCF Growth (YoY)-27.6%
Financial Health — source: SEC EDGAR
Altman Z-Score43.94 (safe)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.7
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($489.82M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOJoseph K. Belanoff
Employees500
CountryUS
IPO Date2004-04-14

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CORT earnings history · CORT institutional & insider holders · CORT KPIs & operating metrics · CORT financials · CORT investor presentations & press releases · CORT SEC filings · CORT peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.