H.C. Wainwright raised the firm’s price target on Crinetics Pharmaceuticals to $60 from $50 and keeps a Buy rating on the shares. The firm says the successful PATHFNDR-2 data boosts its risk-adjusted revenue estimate. The data set up paltusotine to become the standard of care in the treatment of acromegaly and validates the company’s entire drug discovery platform, which is set to enter multiple high-value drug candidates into the clinic over the next 18 months, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CRNX:
- 3 Best Stocks to Buy Now, 3/20/2024, According to Top Analysts
- Crinetics Pharmaceuticals’ Paltusotine Shows Promising Results
- Crinetics’ Once-Daily Oral Paltusotine Achieved the Primary and All Secondary Endpoints in the Phase 3 PATHFNDR-2 Study in Acromegaly Patients
- Crinetics price target raised to $54 from $48 at Oppenheimer
- Crinetics Pharmaceuticals Advances with Promising Phase 2 Results
