BUZZ-Stifel initiates Crinetics Pharma with 'buy' on FDA approval prospects

Reuters2025-03-25
BUZZ-Stifel initiates Crinetics Pharma with 'buy' on FDA approval prospects

** Stifel initiates coverage on Crinetics Pharmaceuticals CRNX.O with "buy" rating; sets PT at $60

** Price target represents a 67% upside to the stock's last close wile median PT is $75.64 - LSEG data

** Brokerage sees a potential FDA approval of CRNX's lead drug, paltusotine, to treat a growth hormone-related condition called acromegaly as well as carcinoid syndrome, a set of symptoms caused by tumors that often develop in the digestive tract or lungs

** Estimates paltusotine to achieve $2 billion in combined peak sales

** CRNX's other drug, atumelnant, is being developed to treat a rare genetic disorder and other conditions

** Study data for atumelnant looks "highly promising" but overshadowed by transient liver damage signals, which remain hard to vet, though favorable regulatory actions seem positive - Stifel

** Fifteen of 16 brokerages rate the stock "buy" or higher, 1 "hold"

** Up to Monday's close, stock had fallen ~19% in the past 12 months

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment