Goldman Sachs analyst Richard Law upgraded Crinetics Pharmaceuticals, Inc. to Buy from Neutral on January 12, setting a share price target of $67. The stock is listed on NASDAQ under the ticker CRNX.
The rating change followed trial results for atumelnant in congenital adrenal hyperplasia. Data showed a 67% reduction in A4 in Cohort 4, matching earlier cohort results. Approximately seven out of eight participants maintained reduced androgen levels even after glucocorticoid doses were lowered to protocol levels.
Separately, Citizens analyst Jonathan Wolleben adjusted the firm's price target on Crinetics to $105 from $108 on January 8, while keeping an Outperform rating. Wolleben referenced a survey of American endocrinologists indicating positive early experience with Palsonify, the company's recently launched acromegaly drug.
In a research note, Law stated this survey supported the company's earlier announcement of preliminary Q4 net product revenue exceeding $5 million. A TipRanks report noted Citizens expects Palsonify to continue exceeding expectations in 2026.
Wall Street analysts maintain a bullish outlook, with a consensus Strong Buy rating and a one-year average share price target of $88.64 as of January 12's close. This represents a potential upside of 60.14%.
Crinetics Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing treatments for rare endocrine diseases and endocrine-related tumors.