TD Cowen analyst Tyler Van Buren has maintained their bullish stance on CRNX stock, giving a Buy rating on April 28.
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Tyler Van Buren has given his Buy rating due to a combination of factors that highlight Crinetics Pharmaceuticals’ promising outlook. The company is on the brink of significant milestones, with the anticipated approval of paltusotine for acromegaly by its PDUFA date in September. This approval is backed by strong Phase III trial results, where paltusotine showed superior efficacy in IGF-1 neutralization compared to existing treatments, positioning it as a potential preferred therapy for acromegaly patients.
Additionally, Crinetics is actively preparing for the launch of paltusotine, with strategic salesforce mapping and engagement with key opinion leaders in the endocrinology community. The company’s comprehensive go-to-market strategy, coupled with the positive reception from stakeholders, underscores the potential for successful market adoption. Furthermore, the robust pipeline and upcoming trials for other indications add to the long-term growth prospects, reinforcing the Buy rating.
Van Buren covers the Healthcare sector, focusing on stocks such as BridgeBio Pharma, Regeneron, and Moderna. According to TipRanks, Van Buren has an average return of -2.8% and a 41.29% success rate on recommended stocks.
In another report released on April 28, LifeSci Capital also maintained a Buy rating on the stock with a $82.00 price target.