Concerpt Therapeutics Shares Are Trading Lower: What You Need To Know

6/14/24 2:54:41 PM ET

Biotechnology: Pharmaceutical Preparations

Health Care

Biotechnology: Pharmaceutical Preparations

Health Care

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Corcept Therapeutics Inc. (NASDAQ:CORT) shares are trading lower Friday afternoon following a report suggesting Teva Pharmaceuticals Inc. (NYSE:TEVA) has sued the company, accusing it of a monopoly on Korlym.

What’s Going On: Filed in federal court in San Francisco, the lawsuit alleges that Corcept, along with its sole distributor Optime Care, engaged in anti-competitive practices to stifle competition, according to the report from Reuters.

Teva reportedly accused Corcept of practices such as paying bribes and kickbacks to physicians to ensure they continue prescribing Korlym, thereby blocking Teva’s generic version from gaining market share.

Teva, which launched its generic version of Korlym five months ago, claims it has captured almost no market share due to these alleged practices. Additionally, the lawsuit accuses Corcept of inflating the cost of Korlym to several hundred thousand dollars annually.

CORT Price Action: Corcept shares were down by 9% to $28.68 according to Benzinga Pro.

See Also: ETFs in Focus as Apple Reclaims Most Valuable Title

Image: Courtesy of Corcept Therapeutics Inc.

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Recent Analyst Ratings for
$CORT
$TEVA

Company	Date	Price Target	Rating	Analyst
Corcept Therapeutics Incorporated $CORT	12/31/2025	$30.00	Peer Perform → Underperform	Wolfe Research
Corcept Therapeutics Incorporated $CORT	12/16/2025		Neutral	UBS
Teva Pharmaceutical Industries Limited $TEVA	12/9/2025	$35.00	Overweight	Barclays
Teva Pharmaceutical Industries Limited $TEVA	12/5/2025	$35.00	Sector Outperform	Scotiabank
Corcept Therapeutics Incorporated $CORT	11/18/2025		Peer Perform	Wolfe Research
Teva Pharmaceutical Industries Limited $TEVA	6/6/2025	$24.00	Buy	Goldman
Teva Pharmaceutical Industries Limited $TEVA	5/28/2025	$25.00	Buy	Truist
Teva Pharmaceutical Industries Limited $TEVA	5/12/2025	$23.00	Neutral → Overweight	Analyst

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