Josh Gottheimer and His Pharma Stock Purchase Before FDA Approval

Monday, 7 October 2024, 14:23

Josh Gottheimer, a New Jersey politician, made a timely investment in pharma stock that may have coincided with FDA approval. This stock trading raises ethical questions regarding politician stock trading practices.
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Josh Gottheimer and His Pharma Stock Purchase Before FDA Approval

Timely Investment in Crinetics Pharmaceuticals

On October 3, Josh Gottheimer disclosed a stock purchase in Crinetics Pharmaceuticals (NASDAQ: CRNX) just before a significant FDA announcement. This purchase, valued between $1,001 and $15,000, took place on September 25, when CRNX shares traded at $50.58. Following the investment, the stock has risen by 11.66%, highlighting the potential gains for the congressman.

Increased Scrutiny of Politician Stock Trading

The actions of politicians regarding stock trading have gained attention, especially as they often outpace their constituents in market performance. Gottheimer's stock purchase occurred before CRNX’s new drug application (NDA) submission, announcing Paltusotine, a groundbreaking treatment for acromegaly.

Market Outlook for Crinetics Pharmaceuticals

  • Analysts unanimously recommend CRNX as a ‘Buy’.
  • The average price target is $71.50, signaling a potential 34.55% rise.
  • CRNX’s price has significantly increased, raising questions about ethical trading among lawmakers.

As discussions around the STOCK Act and ETHICS Act continue, scrutiny on politician stock transactions remains critical for ensuring accountability in the financial practices of elected officials.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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