Crinetics price target lowered to $91 from $92 at Citizens JMP

Citizens JMP lowered the firm’s price target on Crinetics (CRNX) to $91 from $92 and keeps an Outperform rating on the shares. Crinetics is focused on its first potential approval in September while it is forging ahead with both its late- and early-stage candidates, the analyst tells investors in a research note. The firm has high conviction that paltusotine will be approved for acromegaly by its September 25 PDUFA date based on the impressive Phase 3 data, and is model $790M in sales at peak, which it says may be conservative.