UPDATE: Oppenheimer Initiates Coverage on Corcept Technologies

Oppenheimer has initiated coverage on Corcept Therapeutics CORT, and has also published a report on the event. In the report, Oppenheimer wrote, "We are initiating coverage of Corcept Therapeutics with an Outperform rating. Our positive outlook and valuation of the stock is based on the near-term opportunities in Cushing's syndrome as well as long-term opportunities in PMD and weight gain mitigation for anti-psychotic medications." Oppenheimer rated Corcept an Outperform with a price target of $8.00. Corcept closed Thursday at $2.97.