UPDATE: Oppenheimer Starts Cincor Pharma Inc (CINC) at Outperform

Oppenheimer analyst Jay Olson initiates coverage on Cincor Pharma Inc (NASDAQ: CINC) with a Outperform rating and a price target of $30.00.

The analyst comments "

We initiate coverage of CinCor Pharma (CINC) with an Outperform rating and a $30 price target. Our bullish view is based on our optimism for lead candidate CIN-107 in hypertension and other related diseases. CIN-107 selectively targets aldosterone synthase to lower aldosterone levels, which lowers high blood pressure. Five Ph1 studies (N≈180) support a favorable safety/tolerability profile and efficacious reductions in aldosterone levels and blood pressure, and two Ph2 trials in treatment-resistant hypertension (rHTN) and uncontrolled hypertension (uHTN) are ongoing with topline results expected in 2H22. CINC is additionally pursuing primary aldosteronism (PA) and chronic kidney disease (CKD). We foresee a substantial market opportunity for CIN-107, and forecast risk-adjusted (estimated 50%) peak total revenue of $2.1B in 2035. Our $30 PT is based on DCF valuation."

For an analyst ratings summary and ratings history on Cincor Pharma Inc click here. For more ratings news on Cincor Pharma Inc click here.

Shares of Cincor Pharma Inc closed at $19.07 yesterday.

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