Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Receives Average Recommendation of “Moderate Buy” from Analysts

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNXGet Free Report) has received an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $54.17.

CRNX has been the topic of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price target on shares of Crinetics Pharmaceuticals in a research note on Thursday, March 28th. Cantor Fitzgerald lifted their price target on Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Morgan Stanley initiated coverage on Crinetics Pharmaceuticals in a research note on Tuesday, January 16th. They issued an “overweight” rating and a $50.00 price target on the stock. Citigroup began coverage on Crinetics Pharmaceuticals in a research note on Wednesday, March 6th. They issued a “buy” rating and a $68.00 price target on the stock. Finally, Oppenheimer boosted their price objective on Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th.

View Our Latest Stock Report on CRNX

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ CRNX opened at $46.00 on Wednesday. The stock has a market capitalization of $3.20 billion, a PE ratio of -12.43 and a beta of 0.63. The business has a fifty day moving average price of $40.36 and a two-hundred day moving average price of $34.69. Crinetics Pharmaceuticals has a fifty-two week low of $15.50 and a fifty-two week high of $47.62.

Crinetics Pharmaceuticals (NASDAQ:CRNXGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 4,223.27% and a negative return on equity of 52.93%. The business’s revenue was down 100.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.84) earnings per share. On average, equities analysts expect that Crinetics Pharmaceuticals will post -3.34 EPS for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Stephen F. Betz sold 3,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $37.26, for a total value of $111,780.00. Following the transaction, the insider now directly owns 73,298 shares of the company’s stock, valued at approximately $2,731,083.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Stephen F. Betz sold 3,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $37.26, for a total value of $111,780.00. Following the transaction, the insider now directly owns 73,298 shares of the company’s stock, valued at approximately $2,731,083.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephanie Okey sold 17,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $46.38, for a total value of $811,650.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at $278,280. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,890 shares of company stock worth $6,081,310. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRNX. Vanguard Group Inc. raised its stake in shares of Crinetics Pharmaceuticals by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 3,502,452 shares of the company’s stock worth $124,617,000 after purchasing an additional 95,417 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Crinetics Pharmaceuticals by 719.3% in the fourth quarter. Fisher Asset Management LLC now owns 441,295 shares of the company’s stock worth $15,701,000 after purchasing an additional 387,435 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Crinetics Pharmaceuticals by 17.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 650,173 shares of the company’s stock valued at $23,133,000 after acquiring an additional 97,575 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Crinetics Pharmaceuticals by 15.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 40,603 shares of the company’s stock valued at $1,445,000 after acquiring an additional 5,386 shares in the last quarter. Finally, Eventide Asset Management LLC grew its holdings in shares of Crinetics Pharmaceuticals by 4.0% in the fourth quarter. Eventide Asset Management LLC now owns 1,059,633 shares of the company’s stock valued at $37,702,000 after acquiring an additional 40,851 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

About Crinetics Pharmaceuticals

(Get Free Report

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.

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Analyst Recommendations for Crinetics Pharmaceuticals (NASDAQ:CRNX)

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