TD Cowen analyst Tyler Van Buren has maintained their bullish stance on CRNX stock, giving a Buy rating on November 9.
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Tyler Van Buren’s rating is based on a combination of factors, including the recent update to the financial model following Crinetics Pharmaceuticals’ third-quarter earnings report. The adjustments made to the expense estimates reflect the anticipated commencement of Phase III trials and the launch of Palsonify, which are seen as positive developments for the company’s growth prospects.
These strategic initiatives are expected to enhance Crinetics Pharmaceuticals’ market position and drive future revenue growth, justifying the Buy rating. The analyst’s confidence in the company’s potential is further supported by the alignment of these activities with the company’s long-term objectives.
Van Buren covers the Healthcare sector, focusing on stocks such as Soleno Therapeutics, Gilead Sciences, and Summit Therapeutics. According to TipRanks, Van Buren has an average return of 8.2% and a 50.52% success rate on recommended stocks.
In another report released on November 9, H.C. Wainwright also maintained a Buy rating on the stock with a $81.00 price target.