Crinetics gets first-day pop after bumped-up $102M IPO

Endocrine disease company Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX) rose $7.51 (44%) to $24.51 in its first day of trading Wednesday after it raised $102 million through the sale of 6 million shares at $17 in a bumped-up IPO. J.P. Morgan, Leerink and Piper Jaffray are underwriters.

The price valued Crinetics at $391 million. The company priced the offering at the top of its proposed range of $15-$17...