Corcept Therapeutics Incorporated CORT

Health CarePharmaceuticalsUnited States of America

Last close 80.46 USD on Nov 2, 2026, +131.2% year to date

Quant rating

Quant rating B Rank 110 of 565 in Health Care

Growth A 19 of 565
Valuation B 149 of 565
Quality A 48 of 565
Revisions C 364 of 565
Momentum C 313 of 565

Wall Street consensus Buy (2.33)Average target 138.81 USD +72.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 8.7B
Enterprise value: 8.4B
52-week range: 28.68 – 126.09
3-year range: 21.10 – 126.09
Dividend yield: –
Beta (5 years): 0.56
Shares outstanding: 108M
Next earnings: Nov 3, 2026

About the company

Corcept Therapeutics Incorporated is a commercial-stage company. The Company is engaged in the discovery and development of medications to treat severe endocrinologic, oncologic, metabolic and neurologic disorders by modulating the effects of the hormone cortisol. It is also conducting advanced clinical trials in patients with solid tumors, Amyotrophic Lateral Sclerosis (ALS) and liver disease. It operates through the discovery, development and commercialization of the pharmaceutical products segment. It sells Korlym and a generic version of Korlym in the United States using sales representatives to call on physicians caring for patients with hypercortisolism (Cushing’s syndrome). The Company's portfolio of selective cortisol modulators consists of four series totaling approximately 1,000 compounds. It sells and distributes Lifyorli in the United States. It is developing its proprietary, selective cortisol modulator, relacorilant, as a treatment for patients with hypercortisolism.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	761	675	482	402	366	–
Revenue growth	12.8%	39.9%	20.0%	9.8%	3.4%	16.6%
EPS (basic, normalized)	0.82	1.23	0.94	0.87	0.89	–
EPS growth	−33.3%	30.9%	8.0%	−2.2%	–	–
Gross margin	98.3%	98.4%	98.7%	98.7%	98.6%	98.5%
Net margin	13.1%	20.9%	22.0%	25.2%	30.7%	22.4%
ROE	15.0%	23.8%	21.0%	23.1%	25.0%	21.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	315
Current ratio	2.86x
Long-term debt (mil)	0
Net debt (mil)	−315
Total equity (mil)	706
Net debt / equity	−0.45x
Net debt / EBITDA	−6.85x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	761	+12.8%	11.0x	45.9	−72.5%	182.4x	0.82	−33.3%	98.1x
2026	1,146	+50.6%	7.3x	246	+435.8%	34.0x	2.04	+148.8%	39.4x
2027	1,682	+46.8%	5.0x	644	+161.7%	13.0x	4.15	+103.6%	19.4x
2028	2,168	+28.9%	3.9x	1,042	+61.8%	8.0x	7.03	+69.2%	11.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	1,146	0.0%	+3.1%	+18.2%	2.04	−1.0%	+18.3%	+252.7%
2027	1,682	−1.4%	+0.6%	+36.0%	4.15	−3.2%	+4.9%	+175.1%
2028	2,168	−0.7%	+2.8%	+47.0%	7.03	−1.3%	+9.2%	+106.6%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	147	164	183	182	157	194	208	202	165	256
Sales mean (mil)	141	155	172	199	178	199	219	255	187	222
Surprise	+4.0%	+5.5%	+6.1%	−8.5%	−11.6%	−2.5%	−5.0%	−20.7%	−11.8%	+15.5%
EPS reported	0.25	0.32	0.41	0.26	0.17	0.29	0.16	0.20	−0.30	0.36
EPS mean	0.22	0.23	0.28	0.43	0.14	0.19	0.14	0.30	−0.10	0.01
Surprise	+13.6%	+39.1%	+45.4%	−39.0%	+19.3%	+54.7%	+18.5%	−33.3%	−210.3%	+7,100.0%

Peer comparison Pharmaceuticals

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
CORT Corcept Therapeutics Incorporated	8.7B	−6.85x	13.1%	12.30x	39.4x	19.4x	34.0x	13.0x
ABBV AbbVie Inc.	510.4B	2.63x	6.8%	−86.00x	20.7x	17.8x	17.6x	15.4x
PROCF Sofgen Pharma SA	58M	–	−18.3%	–	–	–	–	–
Mean		−2.11x	0.6%	−36.85x	30.1x	18.6x	25.8x	14.2x
Median		−2.11x	6.8%	−36.85x	30.1x	18.6x	25.8x	14.2x

Technical analysis

1M−30.8%
3M−29.7%
1Y+9.5%
3Y+218.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Corcept Therapeutics Incorporated, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	761	675	482	402	366	354
Cost of revenue	13.0	10.9	6.5	5.4	5.3	5.6
Gross profit	748	664	476	396	361	348
Selling, general & administrative expenses	449	280	184	153	122	105
Research & development	255	247	184	131	114	115
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	0	0	0	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	44.8	137	107	113	124	128
Net interest income (expense)	21.7	24.5	17.3	3.6	0.5	3.4
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	66.5	161	125	116	125	132
Provision for taxes	−33.2	20.3	18.4	14.8	12.5	25.6
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	99.7	141	106	101	113	106
Extraordinary items	–	–	–	–	–	–
Net income	99.7	141	106	101	113	106
EBIT, normalized	44.8	137	107	113	124	128
EBITDA, normalized	45.9	138	108	113	126	129
Basic EPS, normalized	0.82	1.23	0.94	0.87	0.89	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Corcept Therapeutics Incorporated, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	377	385	368	432	224	441
Receivables	59.8	54.0	41.1	31.1	27.6	26.2
Total inventory	12.9	12.4	7.7	6.1	5.0	4.9
Prepaid expenses	23.3	9.5	27.6	16.4	10.3	6.7
Other current assets	12.2	10.6	14.0	14.0	0	0
Total current assets	485	472	459	499	266	479
Property, plant & equipment	6.5	8.0	0.3	1.8	1.5	4.2
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	160	220	57.2	4.9	112	36.2
Note receivable	–	–	–	–	–	–
Other long-term assets	184	141	105	77.5	43.5	52.9
Total assets	837	841	622	583	424	572
Liabilities
Accounts payable	40.4	15.4	17.4	12.0	6.9	10.6
Payable/accrued	–	–	–	–	–	–
Accrued expenses	126	125	85.3	60.4	40.1	36.9
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	0	0.2	1.8	0.1	0.5	0
Total current liabilities	166	141	105	72.5	47.5	47.5
Long-term debt	0	0	0	0	0	0
Minority interest	–	–	–	–	–	–
Other liabilities	22.8	20.2	10.3	9.1	0.4	0.9
Total liabilities	189	161	115	81.6	48.0	48.4
Shareholders' equity
Preferred stock	0	–	–	0	0	0
Common stock	0.1	0.1	0.1	0.1	0.1	0.1
Additional paid-in capital	969	832	739	662	591	516
Retained earnings (accumulated deficit)	643	544	403	296	195	82.5
Treasury stock	−967	−696	−635	−456	−410	−75.8
Other equity	2.3	−0.2	0.6	−0.9	−0.2	0.4
Total equity	648	680	507	502	376	523
Total liabilities & shareholders' equity	837	841	622	583	424	572

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Corcept Therapeutics Incorporated, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	99.7	141	106	101	113	106
Depreciation, depletion & amortization	1.1	0.8	1.0	0.8	1.1	0.5
Deferred taxes	−37.5	−40.2	−29.5	−33.9	4.3	14.1
Non-cash items	80.1	51.0	41.1	46.0	50.0	36.7
Changes in working capital	−1.4	45.5	8.2	6.0	−0.1	−5.4
Cash from operations	142	198	127	120	168	152
Investing activities
Capital expenditures	−0.2	−2.2	−0.1	−0.4	−0.5	−1.2
Other investing cash flows	70.0	−175	91.0	−114	137	−118
Cash from investing	69.8	−178	90.9	−114	136	−119
Financing activities
Financing cash flow items	−63.3	−16.8	−9.1	−21.7	−22.8	−1.1
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−157	−11.5	−140	4.4	−280	13.3
Cash from financing	−220	−28.3	−149	−17.3	−303	12.2
Foreign exchange effects	1.4	−0.2	–	–	–	–
Net change in cash	−7.2	−7.9	69.2	−11.3	1.4	44.9
Free cash flow	142	196	127	120	167	151

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.