H.C. Wainwright reiterates buy rating on Crinetics stock at $81 target

Investing.com - H.C. Wainwright maintained its buy rating and $81.00 price target on Crinetics (NASDAQ:CRNX), currently trading at $29.99, following the company’s research and development meeting. The target represents significant upside potential for the $2.81 billion market cap company.

The research firm highlighted the company’s drug discovery capabilities as a key investment pillar, which was showcased during Wednesday’s R&D meeting where Crinetics presented three early-stage assets.

H.C. Wainwright noted that while paltusotine and atumelnant remain the primary near-term value drivers for investors, the early-stage pipeline deserves attention for its potential future impact on company valuation.

The firm expressed particular confidence in CRN12755 for Graves’ Disease and Thyroid Eye Disease (TED), citing the substantial commercial opportunity in this therapeutic area as demonstrated by recently approved drugs and numerous development programs.

H.C. Wainwright emphasized Crinetics’ ability to generate proof-of-mechanism data in Phase 1 studies as a strength that increases confidence as these assets advance into patient studies.

In other recent news, Crinetics Pharmaceuticals reported its Q1 2025 earnings, revealing a revenue decline to $400,000 from $600,000 in the same quarter last year. Despite this decrease, the company is optimistic about its strategic initiatives, including the anticipated launch of paltusotine for acromegaly in September 2025. The company has also increased its research and development expenses by 43% year-over-year, reflecting its commitment to innovation and market expansion. Crinetics maintains a strong cash position with reserves expected to fund operations into 2029, supporting its long-term strategic goals.

Additionally, H.C. Wainwright reaffirmed its Buy rating for Crinetics, with a price target of $81, citing the company’s strengths in drug discovery and clinical development. The firm highlighted the potential of Crinetics’ drug paltusotine and ongoing registrational studies for other candidates, such as atumelnant for Congenital Adrenal Hyperplasia. Crinetics is actively preparing for the FDA decision on paltusotine, building its commercial infrastructure in anticipation of the product launch. The company’s strategic focus on expanding into new markets, including Germany and potentially Brazil, aims to strengthen its competitive position globally.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.