Biotech Stock Crinetics Pharmaceuticals Positioned For Success In Chronic Endocrine Disorder Treatment, Says Analyst
Portfolio Pulse from Vandana Singh
Oppenheimer has initiated coverage on Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) with an Outperform rating and a price target of $40. The analysts note significant room for improvement in drugs targeting chronic endocrine disorders and believe that Crinetics Pharmaceuticals is well-positioned to improve the treatment condition for these disorders. The company's Phase 3 development success in acromegaly could generate ~$250 million in peak sales. CRNX shares are up 6.90% at $17.66 on the last check Thursday.
August 31, 2023 | 6:12 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) has been given an Outperform rating by Oppenheimer, with a price target of $40. The company's Phase 3 development success in acromegaly could generate ~$250 million in peak sales.
The positive rating from Oppenheimer, along with the potential for significant sales from the company's Phase 3 development in acromegaly, are likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100