JMP Securities analyst Jonathan Wolleben has reiterated their bullish stance on CRNX stock, giving a Buy rating yesterday.
Jonathan Wolleben has given his Buy rating due to a combination of factors that highlight Crinetics Pharmaceuticals’ promising future. The company is on the brink of its first potential drug approval for paltusotine in treating acromegaly, with a high probability of success based on strong Phase 3 data. This approval could lead to substantial sales, and Crinetics’ robust pipeline of drug candidates is expected to drive significant value in the near, medium, and long term.
Moreover, Crinetics is advancing its other drug trials, including a Phase 3 trial for paltusotine in carcinoid syndrome and trials for atumelnant in CAH, which are supported by impressive Phase 2 results. The company’s strong financial position, with $1.4 billion in cash, provides a runway into 2029, ensuring stability and the ability to capitalize on upcoming value-inflecting data readouts. These elements, combined with effective management execution, make Crinetics a top pick for investors.
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