Crinetics initiated with a Buy at Stifel

Stifel analyst Alex Thompson initiated coverage of Crinetics (CRNX) with a Buy rating and $60 price target The firm sees “a uniquely-positioned multi-product, well-capitalized endocrinology company on the cusp of its first approval” in Paltusotine, which it believes has the potential to disrupt the treatment paradigm in acromegaly and carcinoid syndrome. The firm sees potential for $2B in combined peak global sales, the analyst added.