Baird raised the firm’s price target on Crinetics to $45 from $43 and keeps an Outperform rating on the shares. The company’s PATHFINDR-1 trial exceeded expectations across every endpoint, “crushing” the response rate and the delta over placebo compared to other recent programs, the analyst tells investors in a research note. The firm thinks the results “assure approval” while reinforcing confidence in the commercial success and read through to paltusotine being the “superior mousetrap” across acromegaly and carcinoid syndrome.
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- Crinetics’ Paltusotine achieves primary, secondary endpoints in Phase 3 study