Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Given Average Rating of “Buy” by Analysts

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNXGet Rating) has earned an average recommendation of “Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $37.20.

Several research analysts have recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Crinetics Pharmaceuticals in a research report on Thursday, March 31st. JMP Securities restated a “buy” rating and set a $45.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Wednesday, April 6th.

CRNX stock opened at $17.71 on Friday. The company has a market capitalization of $846.27 million, a PE ratio of -6.32 and a beta of 1.41. The stock’s 50 day moving average is $20.77 and its two-hundred day moving average is $22.59. Crinetics Pharmaceuticals has a 52-week low of $15.61 and a 52-week high of $28.95.

Crinetics Pharmaceuticals (NASDAQ:CRNXGet Rating) last issued its earnings results on Wednesday, March 30th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.05). Equities research analysts anticipate that Crinetics Pharmaceuticals will post -2.55 EPS for the current fiscal year.

In other news, CEO Richard Scott Struthers sold 21,357 shares of the business’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $25.34, for a total value of $541,186.38. Following the sale, the chief executive officer now owns 57,400 shares of the company’s stock, valued at approximately $1,454,516. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen F. Betz sold 3,123 shares of the business’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $19.73, for a total value of $61,616.79. The disclosure for this sale can be found here. Insiders have sold a total of 185,198 shares of company stock worth $4,837,471 in the last ninety days. 7.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter worth $31,000. Marshall Wace North America L.P. acquired a new stake in shares of Crinetics Pharmaceuticals during the first quarter worth $43,000. Meeder Asset Management Inc. acquired a new stake in shares of Crinetics Pharmaceuticals during the third quarter worth $42,000. Point72 Hong Kong Ltd acquired a new stake in shares of Crinetics Pharmaceuticals during the third quarter worth $51,000. Finally, Royal Bank of Canada raised its position in shares of Crinetics Pharmaceuticals by 62.2% during the second quarter. Royal Bank of Canada now owns 2,897 shares of the company’s stock worth $55,000 after purchasing an additional 1,111 shares during the period. 92.66% of the stock is currently owned by institutional investors.

Crinetics Pharmaceuticals Company Profile (Get Rating)

Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is Paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist that has completed phase III clinical trial for the treatment of acromegaly, as well as completed phase II clinical trial to treat carcinoid syndrome and nonfunctional neuroendocrine tumors (NETs).

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Analyst Recommendations for Crinetics Pharmaceuticals (NASDAQ:CRNX)

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