May. 11 at 10:49 AM
Oppenheimer⬇️
$CRNX's PT to
$84 from
$87, reiterated at Outperform, and said: CRNX posted
$10.7M in total revenue, above our/cons estimates of
$7.0M/
$8.5M as Palsonify's launch gathers steam.
$AZN PFE
$NVS IPSEY NBIS SPRB XERS
Oppenheimer added—Phase 3 trial in carcinoid syndrome continues its enrollment, and atumelnant is moving along in its respective pivotal and Phase 2 trials in adult and pediatric CAH with a Phase 2/3 to soon begin in ACTH-dependent Cushing syndrome.
We have our eye on CRN09682's initial clinical reveal in neuroendocrine tumors, which we believe will come toward year-end.
Cash runway into 2030.
Current levels may reflect a relative paucity of upcoming catalysts, but we believe today's buyers will be rewarded as CRNX's growing endocrine portfolio marks commercial and clinical success.
