Momentum: Crinetics' Acromegaly Study Data and Tesla's Morgan Stanley Boost
- September 11th, 2023
- 500 views
Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) has reported promising results from its Phase 3 PATHFNDR-1 study evaluating paltusotine, an oral once-daily investigational compound designed for acromegaly treatment. The study achieved its primary endpoint and all secondary endpoints. Notably, 83% of participants treated with paltusotine maintained normal insulin-like growth factor 1 (IGF-1) levels, compared to just 4% on placebo.
$CRNX was trading at $28.39 in pre-market, marking a notable increase of $12.42 (+77.77%)
In other news, Morgan Stanley has upgraded Tesla, Inc. (Nasdaq: TSLA) from Equal-Weight to Overweight and simultaneously increased the price target from $250 to $400.
Considering that $TSLA closed at $248.50 on Friday, this updated price target suggests a potential upside of $151.50 or approximately 60.95%, based on the global financial services firm's analysis
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