Selected Stock Price Target News — July 7, 2026

Vertex Pharmaceuticals agreed to buy Crinetics Pharmaceuticals ($CRNX) for $85 a share in cash. It’s a deal worth about $10 billion. HC Wainwright’s Douglas Tsao cut his rating on Crinetics to Neutral at exactly that price the next morning. Benchmark’s Robert Wasserman went the other way on Repligen ($RGEN). He upgraded the bioprocessing supplier to Buy, at $185, as the sector’s consolidation wave picks up speed. And at Nano-X Imaging ($NNOX), Alliance Global Partners’ Ben Haynor finally cut his own rating to Neutral. That came months after a securities fraud suit and a bad earnings report left the stock trading under two dollars.

Vertex’s Cash Buyout Leaves HC Wainwright’s Tsao at Neutral on Crinetics

Crinetics is a clinical-stage biotech that develops drugs targeting hormone disorders. Its lead product, PALSONIFY, treats acromegaly, a disease of excess growth hormone. Crinetics reported first-quarter revenue of $10.7 million, driven mostly by PALSONIFY’s early U.S. launch. Research and development spending ran far higher, $100.1 million for the quarter. The company held $1.3 billion in cash and investments as of March 31. That’s enough, it says, to fund operations for at least another year.

Vertex Pharmaceuticals said on July 6 it would pay $85.00 a share in cash for Crinetics. The deal carries a headline value near $10 billion. Net of Crinetics’ cash on hand, that’s $8.8 billion. It folds two experimental hormone drugs, Palsonify and Atumelnant, into Vertex’s pipeline. Vertex expects the pair to add roughly $5 billion in peak annual revenue, eventually, to its own book. The deal carries no financing condition. It’s backed by $4.5 billion in committed bridge financing from Bank of America and Morgan Stanley Senior Funding. Closing still requires Crinetics shareholder approval and expiration of the HSR antitrust waiting period.

The offer followed weeks of real clinical progress, not a rescue of a struggling name. Through late June and early July, Crinetics had posted long term PALSONIFY data in acromegaly. That data showed durable hormone control and stable tumor size out to two years, plus combination results pairing the drug with cabergoline. The buyout arrived on top of a company that was already building its own case.

Two Cuts, Same Morning

The analyst behind that call, HC Wainwright‘s Douglas Tsao, moved fast. He cut Crinetics to Neutral from Buy. But he raised his price target to $85, the exact cash figure Vertex is paying. Tsao has covered the stock since 2019. He has hit 15 of 23 targets there. That’s a 65.22% record. His average potential upside runs 130.64%, with about 299 days to get there.

He wasn’t done. That same day, Tsao also cut Theravance Biopharma ($TBPH) to Neutral. He raised his target there too, to $17, again lining up with a signed deal price. Zymeworks agreed back in March to buy Theravance. The price: $17.00 a share in cash, plus a contingent value right. That deal is worth close to $929 million. It’s still on track to close in the second half of the year. Tsao’s Theravance record is even better than his Crinetics one: 12 of 14 targets hit, 85.71%. Before Monday’s news, ten analysts covered Crinetics. Their average target was $75.20. The high was $95, from JMP‘s Jonathan Wolleben. The low was $52, against a Monday close of $42.03.

How The Theravance Deal Came Together

The Theravance deal began in March. That’s when Theravance’s ampreloxetine trial failed its main goal in the CYPRESS study. The company then brought in a strategic review committee to shop itself. Zymeworks stepped in at a 22% premium to the pre failure price. Theravance shareholders also get a contingent value right. It’s worth 80% of any future licensing or sale proceeds from ampreloxetine over the next ten years. A $50 million milestone is tied to the drug’s first commercial sale. Tsao closed out both the Crinetics and Theravance ratings within hours of each other, the same morning.

Both deals now have closing dates on the calendar. Crinetics is expected to close in the third quarter. Theravance is expected to close in the second half of the year.

A Bioprocessing Rebound Brings Benchmark’s Upgrade on Repligen

Repligen makes the filters, chromatography resins and single use systems that biotech manufacturers need to produce a drug. The group had a rough couple of years of order cancellations and destocking after the pandemic buildout. Merck agreed this year to buy JSR Life Sciences’ chromatography business, a deal announced around the BIO International Convention. Repligen posted its own first quarter number. Revenue was $194 million, up 15% as reported and 11% organically. That was enough for management to raise adjusted earnings guidance, to $1.97 to $2.05 for the year. Organic growth guidance held at 9% to 13%.

The quarter also included 160 basis points of adjusted operating margin expansion. It also included the March 30 divestiture of Polymem, a French filtration unit that had drifted outside Repligen’s core bioprocessing business. The unit was running at a net loss. The company changed hands at the top in March too. Dr. Martin Madaus took over as board chair from Tony Hunt, who retired from the executive chair role that same day.

Benchmark’s Upgrade And A Second Call

Benchmark‘s Robert Wasserman upgraded Repligen to Buy from Hold. He set a new price target of $185. That’s above the current consensus of $171.82 across 11 analysts, and well clear of the Street’s low estimate of $140. The stock closed Monday at $141.46. That means Wasserman’s number implies roughly 31% upside. Wasserman covers Repligen and 21 other names for Benchmark. His overall met ratio is 37.98%, across 281 documented price targets. He didn’t stop at one name. In the same batch of calls, he upgraded AbCellera Biologics ($ABCL) to Buy as well. He set an $11 target against a $7 consensus, even though his specific record on that stock so far is 0 for 3.

Three of the eleven analysts covering Repligen still carry Hold ratings, a 24% share. The Street’s top estimate, $220, sits above Wasserman’s new target.

This upgrade came alongside the JSR consolidation news, not as a routine reiteration. Wasserman covers 22 stocks for Benchmark. His AbCellera upgrade, made the same morning, stands at 0 for 3 so far.

A Securities Suit and a Q4 Writedown Push AGP’s Haynor to Neutral on Nano-X

Nano-X makes low-cost digital X-ray imaging systems and offers teleradiology reading services. Its spring was rough well before today’s downgrade showed up. The company’s most recent quarter, reported June 25, showed revenue of $4.3 million, up 53% from a year earlier. It also posted a GAAP net loss of $14.3 million. That followed a rougher fourth quarter. Nano-X posted a net loss of $33.4 million on April 20, driven largely by a $17.5 million impairment. The charge was tied to restructuring at its chip manufacturing facility in Korea.

Multiple law firms, including Robbins LLP and the Schall Law Firm, have opened securities fraud investigations into Nano-X. They’ve filed class action complaints alleging Nano-X overstated demand for its scanners and the efficiency gains from its manufacturing process. Cash burn, meanwhile, kept climbing underneath the surface. One such complaint was filed June 12, in the U.S. District Court for the District of New Jersey. It names Nano-X, CEO Erez Meltzer and CFO Ran Daniel as defendants. The suit covers investors who bought shares between March 31, 2025 and April 17, 2026. The court’s deadline for investors to seek the lead plaintiff role is August 11.

Haynor’s Downgrade And Kolbert’s Buy

Alliance Global Partners‘ Ben Haynor cut Nano-X to Neutral from Buy this morning. He lowered his price target to $3 from $5. Haynor’s broader career record spans 249 documented price targets. That’s across 33 stocks. He’s now an analyst at Lake Street, after stints that included Alliance Global Partners. There, he sits at a 50.17% met ratio. He wasn’t the only analyst still working through the wreckage on this one. Jason Kolbert at D. Boral Capital has held an active Buy on Nano-X since January 2025. His price target: $5. That implies more than 279% upside on yesterday’s $1.32 close. His record on that exact call is 0 for 6, a 0% met ratio.

Haynor’s Buy rating on Nano-X dated back to 2022, before the Q4 writedown and the lawsuits. Kolbert’s Buy has stood since January 2025. Neither has publicly disputed the writedown or the litigation.

The lead plaintiff deadline for the securities case is August 11, the next fixed date on the calendar.

Today’s picks touched Benchmark, HC Wainwright and Alliance Global Partners, with supporting calls from JMP, D. Boral Capital and Lake Street. AnaChart’s dataset holds 661,383 price targets and 759,654 ratings from 7,191 analysts, 3,754 of them still active, across 9,686 tickers and 18 years of history. For the full underlying numbers behind today’s calls, see AnaChart’s analyst price target dataset.