Is Corcept Therapeutics, Inc. overvalued or undervalued?

As of 4 August 2025, the valuation grade for Corcept Therapeutics, Inc. moved from expensive to very expensive, indicating a significant increase in perceived overvaluation. The company is overvalued based on its high valuation ratios, including a P/E ratio of 59, an EV to EBITDA of 66.34, and a PEG ratio of 5.37. In comparison, peers such as ACADIA Pharmaceuticals, Inc. have a P/E of 19.28 and an EV to EBITDA of 33.99, highlighting the premium at which Corcept is trading.
Additionally, Corcept's recent stock performance has outpaced the S&P 500, with a year-to-date return of 58.36% compared to the index's 12.22%, and a one-year return of 88.79% versus 17.14%. This strong performance may reflect investor enthusiasm, but the elevated valuation ratios suggest that the stock may not be justified at its current price.