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Why Is Corcept (CORT) Stock Soaring Today
Shares of biopharma company Corcept Therapeutics (NASDAQ:CORT) jumped 94.9% in the afternoon session after the company announced that its Phase 3 trial (ROSELLA) met its goal of improving progression-free survival and overall survival in treating resistant ovarian cancer with a new therapy (a combination of Relacorilant and Nab-paclitaxel).
Why Amazon (AMZN) Shares Are Sliding Today
Shares of cloud computing and online retail behemoth Amazon (NASDAQ:AMZN) fell 3.9% in the morning session after anxiety and uncertainty rattled markets as the major stock indices pulled back in the morning session amid concerns about "reciprocal tariffs" to be announced later in the week. The planned tariffs, scheduled for April 2, 2025 (dubbed Liberation Day), were targeted at all countries where the United States had a trade deficit.
Why Sarepta Therapeutics (SRPT) Stock Is Nosediving
Shares of biotech company Sarepta Therapeutics (NASDAQ:SRPT) fell 10.8% in the afternoon session after RBC analyst Brian Abrahams downgraded the stock from a Buy to a Hold rating and slashed the price target by nearly 50% to $87. The downgrade was driven by weaker-than-anticipated feedback from physicians regarding ELEVIDYS, suggesting that market reception for the treatment had fallen short. Notably, ELEVIDYS had been a big piece of Sarepta's growth story as it contributed more than 50% of sales in the Q4'2024 quarter.