Why Corcept Therapeutics Incorporated (CORT) Went Up On Monday?

Insider Monkey
01 Apr

We recently published a list of 10 Firms Kick Off Trading Week Stronger. In this article, we are going to take a look at where Corcept Therapeutics Incorporated (NASDAQ:CORT) stands against other firms that kicked off the trading week stronger.

The stock market began the trading week on a mixed note as investors continued to digest President Donald Trump’s new tariff agenda, with all economies expecting to be hit by import taxes.

Among all major indices, only the Nasdaq registered losses, down 0.14 percent. In contrast, the Dow Jones jumped by 1 percent while the S&P 500 grew by 0.55 percent.

Despite the broader market downturn, 10 individual stocks stood their ground, finishing the day in the green amid a flurry of fresh corporate developments that boosted investor appetite.

In this article, we named Monday’s top performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.

A biologist in a lab coat studying a culture of cells to find a cure for metabolic disorders.

Corcept Therapeutics Incorporated (NASDAQ:CORT)

Corcept Therapeutics soared by 109.08 percent on Monday to end at $114.22 apiece as investors cheered impressive results of its phase 3 trial for ovarian cancer treatment.

According to the company, the trial met its primary endpoint for its ROSELLA treatment, having seen a 30-percent reduction in the risk of disease progression to patients treated with relacorilant in addition to nab-paclitaxel chemotherapy.

“The improvement in survival seen in ROSELLA, without an increased safety burden, brings us closer to delivering a new standard-of-care treatment for patients with platinum-resistant ovarian cancer,” said CORT Chief Development Officer Bill Guyer. “We deeply appreciate the patients and investigators who participated in the trial, and we look forward to presenting the trial’s full results in the coming months.”

CORT said it expects to submit a new drug application in the third quarter of the year.

Overall, CORT ranks 1st on our list of firms that kicked off the trading week stronger. While we acknowledge the potential of CORT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as CORT but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.

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