Crinetics Pharmaceuticals Inc (CRNX) Initiated with a Buy at Cantor Fitzgerald


In a report released today, Charles Duncan from Cantor Fitzgerald initiated coverage with a Buy rating on Crinetics Pharmaceuticals Inc (CRNX) and a price target of $40. The company’s shares opened today at $25.30.

Duncan noted:

“. We are initiating coverage of Overweight rating and 12-month PT of $40, primarily based on lead asset CRN00808 in acromegaly, with contributions by early stage assets CRN01941 in neuroendocrine tumors (NETs), CRN02481 in congenital hyperinsulinism, and candidates for Cushing’s disease. We believe Crinetics has proven expertise in endocrinology, and is focusing on neuro-endocrine disorders (NEDs) that have well-established etiology for which there are no/limited oral agents that can selectively modulate activity.”

According to TipRanks.com, Duncan is a 3-star analyst with an average return of 1.3% and a 46.4% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

Currently, the analyst consensus on Crinetics Pharmaceuticals Inc is a Moderate Buy with an average price target of $35.

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The company has a one-year high of $42 and a one-year low of $19.23. Currently, Crinetics Pharmaceuticals Inc has an average volume of 61.52K.

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Crinetics Pharmaceuticals, Inc. focuses on specialty endocrine disorders. It discovers and develops novel therapeutics targeting peptide hormone receptors for the treatment of endocrine-related diseases. The company was founded by R. Scott Struthers, Yun-Fei Zhu and Stephen F. Betz in 2008 and is headquartered in San Diego, CA.

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