Cantor Fitzgerald Maintains a Buy Rating on Crinetics Pharmaceuticals (CRNX)

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is one of the best biotech stocks with high potential. On October 1, Cantor Fitzgerald analyst Joshua Schimmer maintained a Buy rating on Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) and set a price target of $90.00.

In other news, Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) announced the FDA approval of PALSONIFYTM (paltusotine) as a “first-line treatment of adults with acromegaly who had an inadequate response to surgery and/or for whom surgery is not an option” on September 25.

PALSONIFY is a selectively-targeted somatostatin receptor type 2 nonpeptide (SST2) agonist, and management stated that the FDA approval makes it the first once-daily, oral treatment approved for acromegaly in adults.

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.