Crinetics price target raised to $71 from $59 at JonesResearch

JonesResearch analyst Catherine Novack raised the firm’s price target on Crinetics to $71 from $59 and keeps a Buy rating on the shares after hosting a call with Dr. Kyriakie Sarafoglou to discuss the evolving treatment landscape in congenital adrenal hyperplasia. Congenital adrenal hyperplasia standard of care has been the same for decades, and providers are enthusiastic to have access to new therapies, the analyst tells investors in a research note. The firm expects Crinetics’ Phase 2 atumelnant data in both CAH and Cushing’s disease by the end of 2024. Following the key opinion leader call, JonesResearch increased penetration for atumelnant in CAH to 25% from 15%.