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Biotech specializing in cortisol-modulating drugs, selling Korlym for Cushing's syndrome and developing relacorilant.
Biotech specializing in cortisol-modulating drugs, selling Korlym for Cushing's syndrome and developing relacorilant.
Nearly all revenue is Korlym, sold in the US through a small number of specialty pharmacies to patients with Cushing's syndrome (too much cortisol), and a generic version has been on sale since 2024. Relacorilant, from the same cortisol-blocking family, is the planned successor, funded from Korlym's profits.
Moat: narrow (IP / patents, process know-how). Deep expertise in cortisol-receptor biology and years of prescriber education in a niche disease.
Headquarters: Menlo Park, California, United States · Founded: 1998 · Employees: 730
Size Corcept Therapeutics (CORT) is a United States Health Care company (Pharmaceuticals: Major) with a market value of $7.96B, the 887th largest of 3,117 United States companies the cockpit tracks. Shares closed at $72.77 on 6 Nov 2026.
Performance Over six months the shares gained 39.2%, against +6.7% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 30.0% over the last twelve months (peer median +10.1%); the operating margin is 11.5% (peer median 16.5%).
Valuation It trades at 16.4× forward earnings against a peer median of 24.3× (7th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 11.0 points above its cost of capital (7.5% WACC).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $964M | $761M | $675M | $482M | $402M |
| Revenue growth | — | +13% | +40% | +20% | — |
| Gross profit | $950M | $748M | $664M | $476M | $396M |
| EBITDA | $114M | $46.7M | $138M | $108M | $116M |
| Net income | $159M | $98.2M | $140M | $105M | $101M |
| Free cash flow | $195M | $142M | $196M | $127M | $120M |
| Capital expenditure | $3.49M | $211,000 | $2.17M | $139,000 | $413,000 |
| Total debt | $8.99M | $6.11M | $6.94M | $151,000 | $1.14M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Corcept Therapeutics CORT | $7.96B | +39% | +30% | 12% | 16.4× | 24.9% |
| Novartis NOVN.SW | $298B | +15% | -4% | 30% | 18.4× | 1.7% |
| Recordati REC.MI | $12.3B | +3% | +9% | 30% | 16.7× | 1.9% |
| Xeris Biopharma XERS | $2.77B | +133% | +36% | 11% | 67.9× | 33.3% |
| Teva Pharmaceutical Industries Limited Sponsored ADR TEVA | $49.7B | +19% | -4% | 19% | 15.1× | 10.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CORT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -38.6% | +4.4% | lowest of 21 |
| 6-month return | +39.2% | +6.7% | 5th highest of 21 |
| Distance from 52-week high | -42.4% | -11.3% | lowest of 21 |
| Revenue growth (TTM) | +30.0% | +10.1% | 7th highest of 21 |
| Operating margin | 11.5% | 16.5% | 8th lowest of 20 |
| Forward P/E | 16.4× | 24.3× | 7th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 24.9% | 8.8% | 4th most demanding of 15 |
| Growth delivered (Del g) | +16.6% | +9.0% | 3rd highest of 15 |
| Hurdle (Req g minus delivered) | +8.3 pp | -6.5 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | +11.0 pp | +1.7 pp | 5th highest of 19 |
| EV / EBITDA | 66.8× | 16.4× | 2nd most expensive of 13 |
| Net debt / EBITDA | -3.2× | 0.8× | 3rd least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Corcept Therapeutics CORT | United States | $7.96B | +39% | +30% | 12% | 16.4× | 24.9% | +16.6% |
| H. Lundbeck A/S HLUN-A.CO | Denmark | $8.02B | +47% | +9% | 27% | n/a | -9.1% | +6.6% |
| Kyowa Kirin 4151.T | Japan | $8.05B | +4% | +10% | 24% | 15.6× | -6.1% | +9.3% |
| Asymchem Laboratories (Tianjin) 002821.SZ | China | $8.07B | +23% | +18% | 17% | 41.4× | n/a | n/a |
| ALK-abello A/S ALK-B.CO | Denmark | $8.14B | -5% | +17% | 27% | 35.7× | 7.6% | +12.6% |
| Rhythm Pharmaceuticals RYTM | United States | $7.78B | +19% | +61% | -67% | n/a | n/a | n/a |
| Praxis Precision Medicines PRAX | United States | $7.75B | -16% | -100% | n/a | n/a | n/a | n/a |
| Glenmark Pharmaceuticals GLENMARK.NS | India | $7.73B | +9% | +33% | 20% | 32.0× | 20.0% | +9.4% |
| Alkermes Public ALKS | United States | $7.71B | +31% | +15% | 5% | n/a | 31.5% | +7.3% |
| Shanghai Pharmaceuticals 601607.SS | China | $8.32B | -2% | +4% | 3% | 11.4× | -10.0% | +8.1% |
| Grifols GRF.MC | Spain | $7.49B | +23% | 0% | 16% | 13.0× | 6.8% | +7.1% |
| Cytokinetics CYTK | United States | $7.46B | -30% | -21% | -1,046% | n/a | n/a | n/a |
| Protagonist Therapeutics PTGX | United States | $8.54B | +33% | +35% | 21% | 48.4× | 47.5% | +10.0% |
| Kiniksa Pharmaceuticals International KNSA | United States | $7.37B | +60% | +58% | 14% | 61.7× | 9.9% | +45.5% |
| Bachem BANB.SW | Switzerland | $7.32B | +3% | +5% | 19% | 33.1× | n/a | n/a |
| Shanghai Fosun Pharmaceutical (Group) 2196.HK | Hong Kong | $8.69B | -10% | +10% | 6% | 10.4× | 20.5% | +5.8% |
| Huadong Medicine 000963.SZ | China | $7.29B | -17% | +2% | 9% | 14.0× | -2.7% | +5.3% |
| Amneal Pharmaceuticals AMRX | United States | $7.01B | +53% | +9% | 17% | 17.7× | 15.2% | +8.7% |
| ONO Pharmaceutical 4528.T | Japan | $7.01B | +2% | -2% | 22% | 14.7× | -8.2% | +10.8% |
| ImmunityBio IBRX | United States | $9.15B | +1% | +193% | -152% | n/a | n/a | n/a |
| TG Therapeutics TGTX | United States | $9.16B | +40% | +76% | 17% | 30.9× | 50.3% | +426.7% |