JMP Securities lowered the firm’s price target on Crinetics to $41 from $50 and keeps an Outperform rating on the shares. Crinetics Pharmaceuticals remains on track to report the first pivotal data for paltusotine in acromegaly in Q3, with steady pipeline progress providing a nice sequence of clinical readouts, the analyst tells investors in a research note. Management continues to execute well and its discovery engine and development strategy bring differentiated candidates into the clinic for rare endocrine disorders, and the firm is not concerned with a slight delay in PATHFNDR-2 timeline, JMP Securities says.
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