Investors interested in stocks from the Medical - Drugs sector have probably already heard of Jazz Pharmaceuticals (JAZZ) and Corcept Therapeutics (CORT). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.Currently, both Jazz Pharmaceuticals and Corcept Therapeutics are holding a Zacks Rank of # 2 (Buy). Investors should feel comfortable knowing that both of these stocks have an improving earnings outlook since the Zacks Rank favors companies that have witnessed positive analyst estimate revisions. But this is just one piece of the puzzle for value investors.Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.JAZZ currently has a forward P/E ratio of 8.91, while CORT has a forward P/E of 32.13. We also note that JAZZ has a PEG ratio of 1.15. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. CORT currently has a PEG ratio of 2.86.Another notable valuation metric for JAZZ is its P/B ratio of 3.01. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, CORT has a P/B of 6.86.These metrics, and several others, help JAZZ earn a Value grade of A, while CORT has been given a Value grade of C.Both JAZZ and CORT are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that JAZZ is the superior value option right now. Want to Know the #1 Semiconductor Stock for 2022? Few people know how promising the semiconductor market is. Over the last couple of years, disruptions to the supply chain have caused shortages in several industries. The absence of one single semiconductor can stop all operations in certain industries. This year, companies that create and produce this essential material will have incredible pricing power. For a limited time, Zacks is revealing the top semiconductor stock for 2022. You'll find it in our new Special Report, One Semiconductor Stock Stands to Gain the Most. Today, it's yours free with no obligation.>>Give me access to my free special report.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Jazz Pharmaceuticals PLC (JAZZ): Free Stock Analysis Report Corcept Therapeutics Incorporated (CORT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research