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Update 12:55pm: Updates shares, adds investor’s view on Syndax Pharmaceuticals.
Crinetics Pharmaceuticals (NASDAQ:CRNX) rose 2% amid a bullish pitch at the Sohn Investment Conference in New York City.
Crinetics (CRNX) was presented at Next Wave Sohn by StemPoint Capital’s Michelle Ross, according to traders attending the event.
Ross has a price target of $339 for Crinetics, or 665% upside from current levels.
“We really do believe that the opportunity set for GLP-1 adjacent companies (like CRNX) is tremendous,” Ross told CNBC in an interview after her earlier presentation.
Syndax Pharmaceuticals (NASDAQ:SNDX) also quickly gained 2.3% after Ross mentioned the company in an interview with CNBC. Syndax is developing a drug to treat pediatric leukemia.
“We’re incredibly optimistic about what that drug is going to do for patients and the long-term trajectory of that,” Ross said.