Crinetics Pharmaceuticals (CRNX) Gets Initiated With a Hold Rating at Goldman Sachs

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is one of the best oversold NASDAQ stocks to buy now. In a report released on July 10, Richard Law CFA from Goldman Sachs initiated coverage of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) with a Hold rating and a $36 price target.

The analyst told investors that Crinetics Pharmaceuticals, Inc.’s (NASDAQ:CRNX) near-term value may be considerably influenced by uncertainties, such as the launch performances of paltusotine and Crenessity. He further reasoned that Crinetics Pharmaceuticals, Inc.’s (NASDAQ:CRNX) lack of other meaningful pipeline catalysts supports the Neutral rating.

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is a clinical-stage pharmaceutical company that develops and commercializes novel therapeutics for rare endocrine diseases and endocrine-related tumors.

The company’s product candidate, CRN00808, is an oral treatment for acromegaly. It is also developing other oral treatments for neuroendocrine tumors, hyperinsulinism, and Cushing’s disease.

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Disclosure: None. This article is originally published at Insider Monkey.