As previously reported, Wolfe Research initiated coverage of Crinetics (CRNX) with a Peer Perform rating. The stock had a great year in 2024 driven by atumelnant efficacy data, but in early 2025, it has seen a grand reversal with the reporting of lower efficacy than expectation, the analyst tells investors in a research note. Based on percentage ownership, hedge funds may have also become more bearish on the stock, the firm added.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRNX:
- Crinetics initiated with a Peer Perform at Wolfe Research
- Crinetics upgraded to Buy from Hold at Jefferies
- Crinetics Pharmaceuticals Outlines 2025 Strategic Priorities
- Crinetics data ‘compelling’ despite safety concerns, says Leerink
- Crinetics CAH data ‘okay,’ but expectations were high, says Jefferies