Intel stock extends gains after report of possible U.S. government stake
Investing.com - Jones Trading has reiterated a Buy rating and $71.00 price target on Crinetics (NASDAQ:CRNX), currently trading at $32.80, following the company’s presentations at ENDO’25. According to InvestingPro data, analysts’ targets range from $36 to $97, reflecting strong upside potential for this $3.07 billion market cap biotech company.
The firm highlighted new long-term data from paltusotine’s PATHFNDR-1 and PATHFNDR-2 open-label extension studies in acromegaly, showing sustained biochemical control and reduced symptom burden. Patients are being evaluated for up to 200 weeks, with 60-week data demonstrating IGF-1 levels maintained within normal limits for over a year. InvestingPro analysis shows the company maintains a strong financial health score of 1.94 (FAIR), with more cash than debt on its balance sheet.
Additional data presented included details on adrenal volume reduction from atumelnant Phase 2 trials in Congenital Adrenal Hyperplasia (CAH), as well as preclinical data supporting CRN12755 as a potential daily oral treatment for both Graves Disease and Thyroid Eye Disease.
Jones Trading noted that the long-term paltusotine data should support commercial uptake and patient switching from injectable somatostatin receptor ligands (SRLs), strengthening the drug’s market position.
The firm identified paltusotine’s PDUFA date of September 25, 2025, and the initiation of Phase 3 trials in Carcinoid Syndrome, adult and pediatric CAH, and Cushing’s Disease as key near-term catalysts for Crinetics. With analysts anticipating sales growth and a strong consensus recommendation of 1.5 (Buy), investors can access detailed analysis and 10+ additional ProTips through InvestingPro’s comprehensive research report.
In other recent news, Crinetics Pharmaceuticals has presented promising long-term safety and efficacy data for its lead drug candidate, paltusotine, in the treatment of acromegaly. The company revealed that paltusotine maintained IGF-1 levels comparable to prior therapies in a significant number of patients. This development has led JMP Securities to reiterate its Market Outperform rating with a $90.00 price target, assigning a 90% probability of the drug’s approval by its September 25 PDUFA date. Meanwhile, Goldman Sachs has initiated coverage on Crinetics with a Neutral rating and a $36.00 price target, citing uncertainties around the drug’s upcoming launch and its addressable patient population size.
Additionally, Crinetics is advancing atumelnant, its treatment for congenital adrenal hyperplasia (CAH), with Phase 2 data showing promising reductions in key biomarkers. The company plans to begin pivotal studies in 2025, despite concerns about the differences from competitor Crenessity’s trials. H.C. Wainwright has maintained a Buy rating with an $81.00 price target, highlighting Crinetics’ drug discovery capabilities and the commercial potential of its pipeline, including early-stage assets like CRN12755 for Graves’ Disease. The firm also emphasized Crinetics’ strengths in generating proof-of-mechanism data, bolstering confidence in its clinical advancements.
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