Crinetics upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Richard Law upgraded Crinetics (CRNX) to Buy from Neutral with a $67 price target after the company reported results for Cohort 4 from the Phase 2 TouCAHn study of atumelnant in adults with congenital adrenal hyperplasia. Atumelnant achieved a 67% mean reduction in morning androstenedione, and 88% of patients were able to reduce glucocorticoid dose to protocol defined physiologic replacement levels while maintaining androgen reduction, the analyst tells investors in a research note. Goldman cites a “brighter outlook and clearer path to succeed” for atumelnant for the upgrade.