UPDATE: Piper Sandler Starts Cincor Pharma Inc (CINC) at Overweight

Piper Sandler analyst Yasmeen Rahimi initiates coverage on Cincor Pharma Inc (NASDAQ: CINC) with a Overweight rating and a price target of $73.00.

The analyst comments "We are initiating on CinCor Pharma Inc. (CINC) with a $73 PT and OW rating owing to the blockbuster potential in hypertension (HTN) for baxdrostat (CIN-107), a highly selective oral CYP11B2/aldosterone synthase inhibitor. Recent Ph2 PoC data from BrigHtn in 275 resistant HTN (rHTN) patients validates the mechanism in one of the most challenging forms of HTN and de-risks upcoming Ph2 readouts across uncontrolled HTN (uHTN), chronic kidney disease (CKD), and primary aldosteronism (PA). Furthermore, a clean safety profile provides a broad therapeutic index allowing for higher dosing to enhance efficacy. Considering ~116M US patients with HTN and high BP accounting for ~10% of global healthcare spending (US spends ~$131B/year), we believe baxdrostat is well prepared to competitively position itself in this very attractive HTN market."

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 $33.16 yesterday.

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