Corcept Therapeutics (NASDAQ:CORT) Announces Earnings Results

Key Points

• Corcept missed Q1 estimates, reporting ($0.30) EPS vs. a consensus ($0.11) and revenue of $164.9M vs. $185.8M expected, though revenue was up 4.9% YoY and the company held $515M in cash and investments.
• Management raised 2026 revenue guidance to $950M–$1.05B and highlighted commercial momentum—including early FDA approval and >200 prescribers for Lifyorli (projected >$1B U.S. opportunity) and an NDA for relacorilant as the Cushing franchise targets at least a $2B annual market by decade‑end.
• Clinical updates show encouraging survival data—Phase II dazucorilant (DAZALS) and Phase 3 ROSELLA readouts reported large survival benefits, prompting a planned 300 mg‑focused Phase III for dazucorilant despite GI tolerability concerns and expansion of several combination programs.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.19), FiscalAI reports. The company had revenue of $164.90 million during the quarter, compared to analyst estimates of $185.83 million. Corcept Therapeutics had a return on equity of 15.19% and a net margin of 12.96%.The company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share.

Here are the key takeaways from Corcept Therapeutics' conference call:

• Corcept raised 2026 revenue guidance to $950 million–$1.05 billion after reporting Q1 revenue of $164.9 million (Q1 net loss $31.8 million; cash & investments $515 million as of March 31).
• Endocrinology demand is at record levels (new prescriptions, prescribers, and patient starts), driven by the CATALYST and MOMENTUM studies that identify high hypercortisolism prevalence; management expects the Cushing's business to grow to at least $2 billion annually by decade‑end and has an NDA for relacorilant under FDA review.
• The FDA approved Lifyorli early for platinum‑resistant ovarian cancer after ROSELLA showed a 35% reduction in risk of death (HR 0.65, p=0.0004); early launch traction (>200 prescribers), quick NCCN preferred listing, and management projects >$1 billion U.S. revenue by decade‑end.
• Phase II DASALS results for dazucorilant showed large survival benefits (84% reduction in risk of death at 1 year; 87% at 2 years, p≤0.0009) but GI tolerability caused discontinuations, and Corcept plans a 300 mg‑focused Phase III later this year with dose‑titration work to address tolerability.
• Corcept is broadening its pipeline—ongoing BELLA relacorilant combination arms, a nenocorilant + nivolumab immunotherapy program, and the MONARCH Phase II in MASH (readout by year‑end)—which could materially expand markets if forthcoming data are positive but remain uncertain until readouts.

Corcept Therapeutics Stock Down 0.2%

Shares of NASDAQ CORT traded down $0.07 during mid-day trading on Thursday, reaching $46.52. 1,233,033 shares of the company's stock traded hands, compared to its average volume of 953,595. The stock has a market cap of $4.99 billion, a P/E ratio of 56.73 and a beta of 0.25. The business has a 50-day simple moving average of $39.14 and a 200 day simple moving average of $54.61. Corcept Therapeutics has a 1-year low of $28.66 and a 1-year high of $91.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 2.85.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CORT. Wolfe Research upgraded shares of Corcept Therapeutics from an "underperform" rating to a "peer perform" rating in a report on Thursday, March 26th. HC Wainwright reduced their price target on shares of Corcept Therapeutics from $67.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, March 25th. Truist Financial upgraded shares of Corcept Therapeutics to a "strong-buy" rating in a report on Wednesday, March 25th. Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, March 26th. Finally, Zacks Research cut shares of Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $77.67.

Corcept Therapeutics News Roundup

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Phase 2 ALS survival data released — Corcept reported two‑year overall survival benefit for dazucorilant in the DAZALS Phase 2 study, which supports development of its cortisol‑modulator franchise beyond oncology and endocrinology. BusinessWire: DAZALS survival data
• Positive Sentiment: Phase 3 ROSELLA survival readout bolsters Lifyorli story — recent Phase 3 overall survival results for Lifyorli + nab‑paclitaxel in platinum‑resistant ovarian cancer keep the oncology franchise in focus as a revenue driver. InsiderMonkey: ROSELLA data
• Positive Sentiment: Company says it is guiding higher on Lifyorli‑fueled revenue growth — management highlighted commercial momentum and raised forward expectations, which could support upside if sales accelerate. TipRanks: Guidance update
• Neutral Sentiment: Revenue grew 4.9% YoY to $164.9M in Q1 2026, showing underlying topline traction despite missing estimates; management hosted a conference call and issued a press release with financial details. BusinessWire: Q1 results
• Negative Sentiment: Q1 earnings and revenue missed expectations — CORT reported a loss of $0.30/share versus a -$0.11 consensus and revenue of $164.9M vs. $185.8M expected, a material miss that pressured near‑term sentiment. MarketBeat: Earnings recap
• Negative Sentiment: Analyst and news summaries flagged the revenue miss and EPS loss as the primary reasons for the share pullback today. Zacks: Earnings coverage MSN: Revenue miss SFGate: Earnings snapshot

Insider Activity

In other Corcept Therapeutics news, Director G Leonard Baker, Jr. acquired 100,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, March 17th. The stock was purchased at an average cost of $33.14 per share, for a total transaction of $3,314,000.00. Following the completion of the acquisition, the director directly owned 1,146,631 shares of the company's stock, valued at $37,999,351.34. This represents a 9.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $40.97, for a total transaction of $819,400.00. Following the transaction, the insider owned 2,231 shares of the company's stock, valued at $91,404.07. This represents a 89.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 86,198 shares of company stock worth $3,668,569 over the last three months. 20.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CORT. AQR Capital Management LLC boosted its holdings in Corcept Therapeutics by 546.9% during the third quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company's stock worth $125,264,000 after purchasing an additional 1,274,215 shares during the last quarter. UBS Group AG boosted its holdings in Corcept Therapeutics by 413.8% during the third quarter. UBS Group AG now owns 549,938 shares of the biotechnology company's stock worth $45,705,000 after purchasing an additional 442,898 shares during the last quarter. Morgan Stanley boosted its holdings in Corcept Therapeutics by 34.1% during the fourth quarter. Morgan Stanley now owns 1,592,059 shares of the biotechnology company's stock worth $55,404,000 after purchasing an additional 405,081 shares during the last quarter. HRT Financial LP purchased a new position in Corcept Therapeutics during the second quarter worth about $14,753,000. Finally, Tang Capital Management LLC purchased a new position in Corcept Therapeutics during the fourth quarter worth about $5,455,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

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