10 Worst Performing Mid Cap Stocks to Buy According to Analysts

2. Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX)

6-Month Performance as of February 26: -39.19%

Upside Potential as of February 26: 127.55%

Number of Hedge Fund Holders: 41

Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX) is a clinical-stage company that develops innovative oral therapies for rare endocrine disorders and tumors. With a pipeline focused on novel nonpeptide agonists and antagonists, it’s advancing treatments for conditions like acromegaly, Cushing’s disease, and hyperparathyroidism. It’s also exploring solutions for diabetes and obesity.

The company ended Q3 2024 with $863 million in cash. R&D expenses were $61.9 million for the quarter ended September 30, 2024. Net loss for the quarter was $76.8 million. In Q3 2024, the company submitted an NDA for paltusotine, which is an acromegaly treatment that aims for a fall 2025 launch. It’s preparing for this by working with payers and doctors. The company’s pipeline includes atumelnant, which is in Phase 2 for CAH and Cushing’s disease. It also plans to share full data from 28 patients in early 2025 and start Phase 3 trials for CAH in 2025, and potentially for Cushing’s. 4 new drug candidates are also undergoing pre-clinical studies, with IND applications planned for 2025. These include treatments for hyperparathyroidism, polycystic kidney disease, and Graves’ disease. It’s also developing non-peptide drug conjugates (NDCs) for cancer. Its first NDC, which is CRN09682, showed promising results in mice. An IND filing is expected in early 2025.