What's Behind The Jump In Corcept Therapeutics Stock?

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) are soaring Wednesday after the FDA approved a treatment for adults with platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal cancer. Corcept Therapeutics shares are climbing with conviction. Why is CORT stock up today? FDA Approves Cancer Treatment The FDA approved relacorilant in combination with nab-paclitaxel for the treatment of adults with platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal cancer who have received one to three prior systemic treatment regimens, at least one of which included bevacizumab. The efficacy of the relacorilant treatment was assessed in a multicenter, open-label trial involving 381 patients. The results showed promising progression-free survival (PFS) and overall survival (OS) rates, with the PFS at 6.5 months and OS at 16 months for patients treated with the relacorilant and nab-paclitaxel combination. The positive updates appears to be driving increased investor confidence in Corcept on Wednesday, with shares hitting $50 before pulling back slightly. CORT Stock Soars Above Key Averages Corcept is trading 28.2% above its 20-day SMA, but it remains 20.8% below its 100-day SMA, showing strong short-term recovery attempts inside a still-damaged longer-term trend. Shares are down 24.91% over the past 12 months, and the stock is positioned closer to its 52-week low than its high. RSI is at 44.39, which sits in neutral territory and suggests the surge hasn't pushed momentum into an overheated condition based on this reading. Meanwhile, MACD is at -1.5742 versus a signal line of -2.0436, a bullish configuration that points to improving upside momentum. RSI in the 30–50 range with bullish MACD indicates momentum leaning bullish. Key Resistance: $47.00 Key Support: $37.00 Earnings & Analyst Outlook Looking further out, the next major catalyst for the stock arrives with the May 4, 2026 (estimated) earnings report. EPS Estimate: Loss of 20 cents (Down from 17 cents YoY) Revenue Estimate: $180.94 million (Up from $157.21 million YoY) Valuation: P/E of 41.2x (Indicates premium valuation relative to peers) Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $92.50. Recent analyst moves include: HC Wainwright & Co.: Buy (Lowers Target to $60.00) (Feb. 25) HC Wainwright & Co.: Buy (Lowers Target to $67.00) (Feb. 20) Canaccord Genuity: Buy (Raises Target to $100.00) (Jan. 23) CORT Shares Soar Wednesday CORT Stock Price Activity: Corcept Therapeutics shares were up 27.88% at $43.25 at the time of publication on Wednesday, according to Benzinga Pro data. Image: Shutterstock