Citi analyst David Lebowitz has maintained their bullish stance on CRNX stock, giving a Buy rating today.
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David Lebowitz has given his Buy rating due to a combination of factors that highlight Crinetics Pharmaceuticals’ promising pipeline and strategic focus. The company recently showcased its endocrinology franchise during its inaugural R&D Day, emphasizing its innovative approach to targeting untapped markets such as Graves’ disease, thyroid eye disease, autosomal dominant polycystic kidney disease, and neuroendocrine tumors. Crinetics’ management demonstrated their expertise in selecting targets among G-protein coupled receptors, which are crucial in endocrine hormone signaling, and highlighted their progress with assets like paltusotine for acromegaly and atumelnant for congenital adrenal hyperplasia.
Additionally, Crinetics’ differentiated approach to preclinical medicinal chemistry, led by Co-founder and Chief Scientific Officer Stephen Betz, further supports the Buy rating. The company’s rigorous candidate selection strategy includes maintaining a robust library of backup compounds, which has proven effective in overcoming challenges such as chemical stability issues. This strategic approach, combined with the potential to develop first-in-class treatments for conditions like Graves’ disease, where current therapies have limitations and side effects, positions Crinetics favorably in the market. The expected share price return of 110.1% further underscores the positive outlook for the company’s stock.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $81.00 price target.