5 Best Biotech Stocks with Highest Upside Potential

4. Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX)

Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX) is one of the 10 best biotech stocks with highest upside potential.

As of the April 24 closing, the stock carries a strongly bullish consensus sentiment. With a price target of $86.71, it yields more than 126% upside potential. It received Buy ratings from all 8 analysts who provided coverage.

On March 26, Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX) filed a Marketing Authorization Application with the National Health Surveillance Agency in Brazil for Palsonify, a novel once-daily orally administered somatostatin receptor subtype 2 selective non-peptide agonist, for the treatment of acromegaly in adult patients.

Founder and CEO of Crinetics, Scott Struthers, has observed that this application marks yet another landmark on a global level. The once-a-day oral Palsonify medication has revolutionized the treatment protocol after its approval by the FDA in the United States. The submission is based on data collected from eighteen clinical trials, two of which were Phase 3 trials with positive results for both primary and secondary endpoints.

The drug was highly tolerable, producing biochemical and symptomatic control, compared to placebo. In Europe, the CHMP recently issued a positive opinion in relation to the MAA application of Crinetics.

Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX) is engaged in developing and marketing of innovative treatments for rare endocrine diseases and endocrine-related tumors. The company offers a range of therapies that are currently in different stages of clinical trials. These include Paltusotine, Atumelnant, CRN09682, oral GLP-1 and GIP nonpeptide.