Crinetics price target raised to $81 from $69 at H.C. Wainwright

H.C. Wainwright analyst Douglas Tsao raised the firm’s price target on Crinetics (CRNX) to $81 from $69 and keeps a Buy rating on the shares post the Q3 report. The firm says that with paltusotine’s Phase 3 for carcinoid syndrome set to kick off before year-end, Crinetics unveils a new asset for neuroendocrine tumors. Crinetics again demonstrated its “drug discovery chops” with Q3 results by unveiling a new nonpeptide drug conjugate asset, CRN09682, for patients with SST2 expressing tumors, including neuroendocrine tumors, the analyst tells investors in a research note.