Crinetics initiated with an Overweight at Morgan Stanley

Morgan Stanley analyst Jeffrey Hung initiated coverage of Crinetics Pharmaceuticals with an Overweight rating and $50 price target. The analyst says data for paltusotine in acromegaly and carcinoid syndrome have been encouraging, and multiple data readouts are expected in the next two quarters. Crinetics is focused on endocrine disorders and endocrine-related tumors, the analyst tells investors in a research note.