Corcept cut to hold by Stifel after research results

Corcept Therapeutics downgraded to Hold ahead of competitive read outs at Stifel. As previously reported, Stifel analyst Adam Walsh downgraded Corcept Therapeutics (CORT) to Hold from Buy, noting that results are due near-term for both Strongbridge Biopharma’s (SBBP) Recorlev and Novartis’ (NVS) osilodrostat. While he does not have a clear read on the potential for positive outcomes for these candidates, Walsh thinks the impending read outs could create an overhang for Corcept shares, he tells investors. The analyst, who also notes a lack of FDA clarity on the Phase 3 trial design for Corcept’s second-gen Cushing’s candidate relacorilant, keeps a $20 price target on Corcept shares.

https://bit.ly/2LNnsh6