Morgan Stanley analyst Maxwell Skor maintained a Buy rating on Crinetics Pharmaceuticals (CRNX – Research Report) yesterday and set a price target of $65.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Maxwell Skor’s rating is based on Crinetics Pharmaceuticals’ strategic focus on their early-stage pipeline and long-term value creation. The company’s recent R&D Day emphasized their innovative approach in endocrinology and peptide hormone GPCR pharmacology, which presents a significant opportunity given the broad range of GPCRs and hormones they are targeting. Their drug discovery process is underscored by the dynamic nature of GPCRs, which has been reflected in their preclinical and early-stage volunteer results.
Additionally, Crinetics is advancing their Nonpeptide Drug Conjugates (NDC) platform, particularly with CRN09682, a novel drug designed to target SST2-expressing tumors. This drug aims to minimize systemic exposure while delivering a potent anti-tumor agent, with the Ph1/2 BRAVESST2 study now moving to enrollment. The company’s robust pipeline and strategic focus on commercialization, alongside their ongoing interactions with the FDA for their lead asset, paltusotine, contribute to the positive outlook and Buy rating given by Maxwell Skor.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $81.00 price target.
CRNX’s price has also changed dramatically for the past six months – from $53.920 to $29.990, which is a -44.38% drop .