LifeSci Capital analyst Cory Jubinville initiated coverage of Crinetics with an Outperform rating and $57 price target. The clinical stage biotechnology company has a well-differentiated platform to generate highly specific small molecules targeting G-protein-coupled receptors, or GPCRs, in endocrinology and is "rapidly emerging as a leader in endocrinology," the analyst tells investors. Lead asset paltusotine, a once-daily oral small molecule somatostatin agonist, has three "meaningful" data readouts over the next 12 months as well as a "quickly maturing, well-positioned, and scientifically-sound pipeline," the firm added.
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Published first on TheFly
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