Crinetics Pharmaceuticals, Inc. [CRNX] Stock Forecast

SAN DIEGO, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that company management will participate in a fireside chat and 1x1 investor meetings at the Cantor Global Healthcare Conference, which is being held in New York City on September 26-28, 2023.

Crinetics Pharmaceuticals' lead candidate could be commercialized soon. It'll have a hard time gaining market share quickly if it gets approved for sale.

Crinetics Pharmaceuticals announced positive late-stage trial data for its acromegaly drug this week. If approved, analysts think this oral therapy could rake in nearly half a billion in annual sales at peak.

Crinetics focuses on treatments for rare endocrine-related diseases and cancers. The company had only $264.5 million in cash as of the second quarter.

Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) stock is surging today, last seen up 72.7% to trade at $27.58 at last check, after the late stage trial for its experimental drug paltusotine to treat a rare hormonal disorder was successful.

Crinetics Pharmaceuticals (NASDAQ: CRNX ) stock is on the rise Monday after the company announced positive clinical trial results. According to a press release from the company, its Phase 3 PATHFNDR-1 clinical trial was able to meet all of its primary and secondary endpoints.

Shares of Crinetics Pharmaceuticals Inc. CRNX, -1.18% gained 65% premarket on Monday after the company announced positive results from a late-stage study of paltusotine, its investigational treatment for acromegaly. The phase 3 trial met the primary endpoint and all secondary endpoints and no serious or severe adverse events were reported in patients receiving paltusotine for acromegaly, a rare disease that occurs when the body produces too much growth hormone.

Shares of Crinetics Pharmaceuticals Inc. CRNX, gained more than 4% premarket on Thursday after Oppenheimer analysts initiated coverage of the shares with an outperform rating, calling Crinetics ‘drug hunters in their zone.' Crinetics focuses on developing treatments for rare endocrine diseaess, an area where current drugs' risk-benefit tradeoffs “leave much room for improvement, or approved options are outright lacking,” the analysts wrote in a note Wednesday.

Crinetics Pharmaceuticals, Inc. is my latest long position. The company has two Phase 3 data releases for Paltusotine in treating acromegaly over the next 7-8 months. Acromegaly is a disorder caused by excess levels of growth hormone, and current treatments have side effects.

Crinetics Pharmaceuticals has shown a significant increase in R&D and administrative expenses, leading to a widening net loss trajectory. The company's primary revenue source is the drug paltusotine, which has shown promising results in the treatment of acromegaly. Crinetics has a robust product pipeline, including potential treatments for Cushing's disease and neuroendocrine tumors.

Crinetics Pharmaceuticals, Inc. is a US stock , located in San diego of Ca and trading under the symbol CRNX

2 stock analysts have 2 predictions with a medium analyst target price of $39.5. The lowest prediction is $39 and the highest is $40

With a median analyst target price of $40, 1 stock analysts have made 1 forecasts in last 90 days. $40 is the lowest and $40 is the greatest projection.

Crinetics Pharmaceuticals, Inc. stock price is $29.225 today.

Yes, Crinetics Pharmaceuticals, Inc. is a publicly traded company.