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

Group 1 - Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is recognized as a promising investment opportunity, with JMP Securities raising the price target to $143 from $86, indicating over 200% upside potential [1] - The approval of Palsonify, an oral SST2 agonist for acromegalic adults unfit for surgery, has been a significant factor in this positive outlook, as it received a broad label without safety concerns and demonstrated rapid response and symptom improvement [2] - The annual price of Palsonify is set at $290,000, which is substantially higher than the previously projected price guidance of $125,000 [2] Group 2 - Crinetics Pharmaceuticals is actively pursuing expansion opportunities, including a Phase 3 study for carcinoid syndrome and two Phase 3 trials for atumelnant in congenital adrenal hyperplasia, scheduled for the end of the year [3] - The company, founded in 2008 and based in California, focuses on developing novel therapeutics for rare endocrine diseases and endocrine-related tumors [4]