CORT
CORCEPT THERAPEUTICS INC
Next earnings Jul 29, 2026 · consensus $0.00 EPS, $223M rev
Last earnings -0.2% on 2026-04-30
$90.21
▲ +2.64%$90.21▲ +23.20%
over 1Y
L $32.15H $90.32
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.6%
1W+6.4%
1M+26.7%
3M+112.3%
YTD+136.2%
1Y+23.2%
Hold
Conviction
Horizon
Medium (3–12mo)
Street · 12 analysts
Buy
Growing Cushing's-drug maker reinvesting heavily in its pipeline, but a 97.5x P/E, falling earnings and generic risk cap the case.
Revenue $761M · FY2025
The read
Middling fundamentals and a rich price (~92% above fair value) leave little margin of safety — a wait-and-see.
Corcept sells cortisol-modulator therapies (Korlym) for hypercortisolism (Cushing's syndrome), and the franchise is still growing — FY2025 revenue rose 12.8% to $761M, extending the climb from $366M in FY2021. The balance sheet is clean (no debt, liabilities/equity 0.29x, $120M cash), and management bought back $173M of stock (up ~10x), signaling confidence.
The near-term earnings picture, however, has weakened sharply. Operating income fell 67.3% to $44.8M and net income dropped 29.4% to $99.7M, with diluted EPS down 33.3% to $0.82. The driver is heavy investment in the pipeline — R&D rose to $255M, more than five times operating income — as Corcept funds late-stage candidates such as relacorilant ahead of potential approvals. This is a deliberate bet that future products will broaden the franchise beyond Korlym, but it means today's profit is depressed and the outcome is uncertain.
Is CORT a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~60d expiry
- Long 100 shares @ ~90.21
- Short call 95 @ ~4.63 est
debit $8,558max +$942max −$8,557BE 85.58
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $366M | $402M | $482M | $675M | $761M |
| Gross profit | — | — | — | — | — |
| Operating income | $124M | $113M | $107M | $137M | $44.8M |
| Net income | $113M | $101M | $106M | $141M | $99.7M |
| Diluted EPS | $0.89 | $0.87 | $0.94 | $1.23 | $0.82 |
| Net margin | 30.7% | 25.2% | 22.0% | 20.9% | 13.1% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$9.56B
EV / EBITDA208.2
EV / Sales12.6
EV / FCF67.5
P / FCF68.3
PEG (trailing)—
Earnings yield1.0%
FCF yield1.5%
Quality & risk
ROIC (est.)5.5%
Free cash flow$142M
Total debt$0.00
Net cash$120M
Altman Z-Score33.39 safe
Piotroski F-Score5/8
Capital returns
Buyback yield1.8%
Dividend yield (est.)—
Shareholder yield1.8%
Shares Δ YoY+0.8%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-172026-06-18open ↗8-KPeriod ending 2026-06-172026-06-17open ↗4Period ending 2026-06-152026-06-17open ↗144Filing2026-06-16open ↗144Filing2026-06-16open ↗4Period ending 2026-06-022026-06-04open ↗4Period ending 2026-06-012026-06-03open ↗4Period ending 2026-06-012026-06-03open ↗4Period ending 2026-06-012026-06-03open ↗4Period ending 2026-06-012026-06-03open ↗4Period ending 2026-06-012026-06-03open ↗
Frequently asked
- Is CORCEPT THERAPEUTICS INC (CORT) a buy?
- CORT currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Growing Cushing's-drug maker reinvesting heavily in its pipeline, but a 97.5x P/E, falling earnings and generic risk cap the case.
- What is CORT's fair value?
- A Modified-Graham model based on CORT's SEC fundamentals estimates a fair value of about $6.97. It is an estimate from reported earnings, not a price target.
- Is CORT overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, CORT currently appears overvalued relative to its SEC-grounded earnings power.
- What is CORCEPT THERAPEUTICS INC's quality score?
- CORT scores 63.94276055330623/100 (grade C+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001088856, latest 10-Q filed 2026-04-30) · EODHD · Proprietary analysis · as of 6/21/2026, 8:51:30 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:51 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.