In a report released on July 14, Joseph Schwartz from Leerink Partners reiterated a Buy rating on Crinetics Pharmaceuticals, with a price target of $80.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Joseph Schwartz has given his Buy rating due to a combination of factors that highlight Crinetics Pharmaceuticals’ promising pipeline and strategic advancements. The company has demonstrated significant expertise in developing high-quality drug candidates, particularly in the field of orphan diseases. Their presence at the ENDO conference underscored their strong position in the industry, with a focus on their leading candidate, paltusotine, which is expected to transform the company into a commercial entity upon its anticipated approval.
In addition to paltusotine, Crinetics has a robust late-stage pipeline with ongoing Phase 3 trials for carcinoid syndrome and studies for atumelnant in various conditions. The emerging pipeline, including treatments for Graves’ disease, polycystic kidney disease, and obesity, further enhances the company’s potential for long-term growth. These developments suggest a promising future for Crinetics, justifying the Buy rating as they continue to de-risk their programs and generate value.
In another report released yesterday, Citizens JMP also reiterated a Buy rating on the stock with a $90.00 price target.