Why Corcept Therapeutics (CORT) Is Among the Best Performing Healthcare Stocks to Buy Now

Corcept Therapeutics (NASDAQ: CORT) has emerged as one of the most compelling healthcare stocks in 2025, fueled by a robust pipeline of cortisol-modulating therapies and a series of upcoming regulatory milestones. Despite a near-term stumble in its Q1 earnings report, the stock’s 196.78% surge over the past year underscores investor confidence in its long-term prospects. Let’s dissect the catalysts driving this momentum—and the risks that could test its trajectory.

Outperforming the Market with Strong Returns

CORT’s stock has delivered a staggering 39.37% year-to-date gain, propelling it to 8th place among top healthcare performers. This outperformance isn’t just about short-term wins—it’s rooted in a strategy to dominate markets for rare endocrine disorders and oncology. The company’s Q1 revenue of $157.2 million marked a 7% year-over-year increase, though net income dipped to $20.5 million due to rising operating expenses. Still, management reaffirmed its $900–$950 million revenue guidance for 2025, a sign of confidence in overcoming near-term headwinds like generic competition and supply chain bottlenecks.

Pipeline Catalysts on the Horizon

The linchpin of CORT’s story is relacorilant, a next-generation cortisol inhibitor advancing in multiple indications:

1. HyperCortisolism (Cushing’s Syndrome):
2. The FDA’s December 30, 2025 PDUFA date for relacorilant’s NDA in this rare disorder is a critical catalyst. Data from the GRACE trial showed a 40% reduction in urinary free cortisol, a key biomarker, and improvements in quality-of-life metrics.

3. Corcept’s CATALYST study revealed that 25% of patients with hard-to-control diabetes had undiagnosed hypercortisolism, a finding that could expand Korlym’s addressable market. Full results from the diabetes trial will be presented at the ADA 2025 conference, potentially driving further awareness.

4. Ovarian Cancer:

5. An NDA for relacorilant in platinum-resistant ovarian cancer is expected by Q3 2025, following ROSELLA trial data showing a 6.5-month median progression-free survival—a statistically significant improvement over the control arm. Notably, overall survival trends (16.0 vs. 11.5 months) suggest potential for a breakthrough in this deadly indication.

6. ASCO 2025 will spotlight these data, with a Phase 2 BELLA trial combining relacorilant with chemotherapy now enrolling.

7. Beyond Oncology:

8. The MASH program (miricorilant for NASH) is advancing in a Phase 2b trial, targeting a massive market opportunity in metabolic diseases.
9. Even the ALS program, which missed its primary endpoint in DAZALS, showed a 99% survival benefit in a subset of patients, warranting further regulatory discussions.

Operational Challenges and Risks

Despite the pipeline’s promise, CORT isn’t without hurdles:

• Generic Erosion: An authorized generic of Korlym now claims over 50% of sales, squeezing margins and complicating growth projections.
• Supply Chain Volatility: Q1 saw pharmacy distribution delays, though management claims these issues were resolved by March. A sales force expansion to 175 specialists by year-end aims to capitalize on relacorilant’s anticipated launch.
• Regulatory Uncertainty: The PDUFA decision and ovarian cancer NDA timelines remain critical. Delays or label restrictions could dent valuation.

Analyst and Management Perspectives

Canaccord Genuity’s Buy rating underscores the bullish case, citing Korlym’s $570 million cash balance and the $1 billion+ peak sales potential for relacorilant in hypercortisolism alone. CEO Joseph Belanoff emphasized the 125-person sales force’s role in expanding physician awareness, while CFO Atabak Makari noted the balance sheet’s resilience despite Q1’s operating expense spike ($153.8 million vs. $117.3 million in 2024).

Conclusion: A High-Reward, High-Conviction Play

Corcept Therapeutics is a classic “catalyst-driven” stock: its valuation hinges on executing on relacorilant’s regulatory milestones and pipeline readouts. With a $900–$950 million revenue target for y 2025, a $570.8 million cash cushion, and institutional ownership at 29 funds (as of Q4 2024), the stock offers a compelling risk/reward profile.

While near-term risks like generic competition and operational costs are valid concerns, the $1 billion+ peak sales potential for relacorilant—and its expansion into oncology—could drive a multi-year growth story. Investors who can stomach volatility and focus on the 196%+ year-over-year stock performance may find CORT a standout pick in a healthcare sector hungry for innovation.

The next 12 months will be pivotal, but with data from ASCO, ADA, and the PDUFA decision on deck, CORT remains a stock to watch—and potentially buy—now.