Crinetics Pharmaceuticals (NASDAQ:CRNX) Upgraded at Wall Street Zen

Crinetics Pharmaceuticals (NASDAQ:CRNX) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other research analysts also recently issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, October 8th. Oppenheimer raised their price objective on shares of Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Citizens Jmp decreased their target price on shares of Crinetics Pharmaceuticals from $143.00 to $108.00 and set a “market outperform” rating on the stock in a report on Friday, November 7th. Leerink Partners increased their target price on shares of Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Finally, JMP Securities boosted their price target on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the company a “market outperform” rating in a research report on Friday, September 26th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.55.

Crinetics Pharmaceuticals Trading Up 0.4%

Crinetics Pharmaceuticals stock opened at $46.73 on Friday. The business’s 50 day simple moving average is $45.40 and its 200 day simple moving average is $37.82. Crinetics Pharmaceuticals has a 12 month low of $24.10 and a 12 month high of $53.55. The company has a market cap of $4.43 billion, a price-to-earnings ratio of -10.32 and a beta of 0.20.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.11). The firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.39 million. During the same quarter in the previous year, the company earned ($0.96) earnings per share. As a group, equities research analysts forecast that Crinetics Pharmaceuticals will post -3.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $42.66, for a total transaction of $213,300.00. Following the completion of the sale, the insider directly owned 66,270 shares of the company’s stock, valued at approximately $2,827,078.20. The trade was a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in CRNX. Headlands Technologies LLC purchased a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter worth about $30,000. Farther Finance Advisors LLC lifted its position in Crinetics Pharmaceuticals by 523.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock worth $35,000 after buying an additional 707 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Crinetics Pharmaceuticals in the second quarter worth approximately $45,000. Penserra Capital Management LLC bought a new position in Crinetics Pharmaceuticals during the second quarter valued at approximately $48,000. Finally, Covestor Ltd grew its position in Crinetics Pharmaceuticals by 23,983.3% during the third quarter. Covestor Ltd now owns 1,445 shares of the company’s stock valued at $60,000 after acquiring an additional 1,439 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.