The pharma company saw a surge in retail sentiment following its Q1 update, which reaffirmed its 2025 revenue guidance of $900 million to $950 million.

Shares of Corcept Therapeutics Inc. surged to their highest levels since April 9 on Monday, following a first-quarter report that showed record prescription volume despite a revenue miss, prompting retail traders to turn extremely optimistic.

The pharma company’s stock closed at $73.94 on Monday, gaining 1.6% on the day.

The company reported Q1 revenue of $157.2 million, falling short of Wall Street’s consensus estimate of $177.9 million, as early-quarter fulfillment issues at its specialty pharmacy vendor hindered sales. 

However, CEO Joseph K. Belanoff said that pharmacy operations “improved substantially” in March and April, with both months setting records for tablets dispensed.

“In the first quarter, we had another record number of prescriptions from new and existing prescribers, broadly distributed throughout the country,” Belanoff said. 

He attributed the growth to increased physician awareness of hypercortisolism, which has led to more patients being screened and treated.

Corcept reaffirmed its 2025 revenue guidance of $900 million to $950 million.

Retail sentiment on Stocktwits turned “extremely bullish” following the results, with message volume surging 800% in 24 hours. 

One user said they had expected a “blowout quarter” and anticipated a $75 open the next day, but noted that $70 would be a key level for bullish investors to watch. 

Another user expressed confidence that shares could hit $90 or higher.

Pre-earnings options volume in Corcept was normal, with calls outpacing puts by a 10:9 ratio, according to The Fly. 

Implied volatility suggests the market is expecting a move of around 3.7%, or $2.71, following the earnings release. The median price move over the past eight quarters has been 5.2%.

Shares of Corcept have risen 48% so far this year.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<