Crinetics stock price target lowered to $86 by Citizens JMP on launch outlook

Investing.com - Citizens JMP has lowered its price target on Crinetics (NASDAQ:CRNX) to $86.00 from $90.00 while maintaining a Market Outperform rating, citing expectations for a modest initial launch of the company’s acromegaly treatment. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet, though its shares have declined 47% year-to-date.

The firm noted that Crinetics is preparing to transition into a commercial-stage company with its Palsonify treatment for acromegaly, which JMP believes is likely to receive approval with a broad label based on strong Phase 3 PATHFNDR study results. The company estimates approximately 11,000 U.S. acromegaly patients are candidates for chronic medical intervention. With a market capitalization of $2.5 billion and analyst price targets ranging from $35 to $97, InvestingPro analysis suggests significant potential upside despite current market volatility.

Crinetics plans to deploy a sales force of about 30 representatives for the rare disease launch, targeting patients currently on injectable and oral therapies who might benefit from switching to once-daily Palsonify. The company is also focusing on patients who discontinued therapy, don’t tolerate injections, or are suboptimally treated.

Citizens JMP projects 2025 and 2026 revenues of $2 million and $45 million respectively for Crinetics, compared to consensus estimates of $5 million and $46 million. The analyst cited the relative infrequency of patient visits to endocrinologists as a factor in the expected modest early launch trajectory.

Beyond acromegaly, Crinetics is advancing its pipeline with upcoming Phase 3 trials for paltusotine in carcinoid syndrome and Phase 2/3 trials for atumelnant in both adult and pediatric congenital adrenal hyperplasia, with a pivotal Cushing’s trial scheduled to begin in the first half of 2026. Get deeper insights into Crinetics’ financial health, valuation metrics, and growth potential with a comprehensive Pro Research Report, available exclusively on InvestingPro.

In other recent news, Crinetics Pharmaceuticals reported its second-quarter 2025 earnings, which revealed an earnings per share (EPS) of -1.23, falling short of the forecasted -1.1. Despite the EPS miss, the company exceeded revenue expectations by reporting $1 million, surpassing the forecast of $750,110. This indicates a positive revenue performance despite the earnings shortfall. Additionally, Stifel has maintained a Buy rating on Crinetics, although it lowered the stock price target from $60 to $58. The firm emphasized Crinetics’ strong position in the rare endocrinology market, highlighting its diversified pipeline and adequate capital as it nears commercialization. Stifel also pointed out that the September 2025 PDUFA date for the drug paltusotine in treating acromegaly remains on schedule. These developments provide investors with insights into the company’s current financial health and strategic positioning.

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