JMP Backs Crinetics Pharmaceuticals, Inc. (CRNX) With Big Upside Post-Approval

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is among the best fast money stocks to buy now. Analysts at JMP Securities have reaffirmed their ‘Market Outperform’ rating on Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX), while raising the price target to $143 from $86, implying an upside potential of over 200% from the current levels. This confidence follows the company’s successful approval of Palsonify.

The firm notes that Palsonify, an oral SST2 agonist designed for acromegalic adults who aren’t fit for surgery, receives a broad label without any safety red flags, highlighting not only the rapidity of response but also improvement in symptom severity. While JMP had a price guidance of $125,000, the drug is sold at a price of $290,000 annually, which is significantly higher than the projected amount.

That’s not it. Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is seizing every possible opportunity for expansion. This includes a Phase 3 study for carcinoid syndrome, along with two Phase 3 trials for atumelnant in congenital adrenal hyperplasia, planned for the end of the year.

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is a California-based clinical-stage pharmaceutical company specializing in novel therapeutics for rare endocrine diseases and endocrine-related tumors. Incorporated in 2008, the company is committed to improving the lives of its patients.

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