TD Cowen analyst Tyler Van Buren has maintained their bullish stance on CRNX stock, giving a Buy rating on October 8.
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Tyler Van Buren’s rating is based on several key considerations regarding Crinetics Pharmaceuticals. The recent approval of Palsonify has led to an increase in the projected peak sales estimates, reflecting a positive outlook for the company’s revenue potential. Despite a slight reduction in the 2025 revenue forecast for Palsonify, the overall sales expectations have been adjusted upwards, indicating confidence in the product’s market performance.
Additionally, while the 2025 expenses have been revised upwards, this adjustment is likely seen as a necessary investment to support the anticipated growth and expansion following the product approval. These factors combined suggest a favorable long-term growth trajectory for Crinetics Pharmaceuticals, justifying the Buy rating.
In another report released on October 8, Piper Sandler also maintained a Buy rating on the stock with a $97.00 price target.