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

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) has been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and eleven have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $82.50.

Several equities analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Monday, January 12th. Wall Street Zen raised shares of Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, January 21st. Citizens Jmp lowered their price target on Crinetics Pharmaceuticals from $108.00 to $105.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 8th. Finally, Morgan Stanley raised their price objective on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, insider Isabel Kalofonos sold 2,500 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, January 5th. The shares were sold at an average price of $55.00, for a total transaction of $137,500.00. Following the sale, the insider owned 834 shares in the company, valued at $45,870. The trade was a 74.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parkman Healthcare Partners LLC raised its position in Crinetics Pharmaceuticals by 0.4% in the third quarter. Parkman Healthcare Partners LLC now owns 73,725 shares of the company’s stock worth $3,071,000 after purchasing an additional 313 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Crinetics Pharmaceuticals by 5.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,952 shares of the company’s stock valued at $248,000 after purchasing an additional 327 shares during the period. California State Teachers Retirement System raised its holdings in shares of Crinetics Pharmaceuticals by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 75,484 shares of the company’s stock worth $2,171,000 after buying an additional 487 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Crinetics Pharmaceuticals by 2.0% during the 3rd quarter. Arizona State Retirement System now owns 26,300 shares of the company’s stock worth $1,095,000 after buying an additional 504 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Crinetics Pharmaceuticals by 16.2% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,619 shares of the company’s stock valued at $104,000 after acquiring an additional 505 shares during the period. 98.51% of the stock is owned by institutional investors.

Crinetics Pharmaceuticals Stock Performance

NASDAQ CRNX opened at $45.28 on Friday. The stock has a 50-day simple moving average of $49.86 and a 200 day simple moving average of $41.54. Crinetics Pharmaceuticals has a twelve month low of $24.10 and a twelve month high of $57.99. The stock has a market capitalization of $4.63 billion, a PE ratio of -10.00 and a beta of 0.19.

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

About Crinetics Pharmaceuticals

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.