Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider James Hassard Sells 15,000 Shares of Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider James Hassard sold 15,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $44.66, for a total value of $669,900.00. Following the completion of the sale, the insider now owns 29,259 shares of the company’s stock, valued at $1,306,706.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Crinetics Pharmaceuticals Stock Up 0.2 %

Crinetics Pharmaceuticals stock opened at $45.66 on Tuesday. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -12.08 and a beta of 0.64. Crinetics Pharmaceuticals, Inc. has a 52 week low of $15.76 and a 52 week high of $53.70. The business’s 50-day moving average price is $46.32 and its 200 day moving average price is $41.76.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Thursday, May 9th. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.09). The company had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.20 million. Crinetics Pharmaceuticals had a negative return on equity of 42.50% and a negative net margin of 4,223.27%. The firm’s revenue was down 76.1% on a year-over-year basis. During the same period last year, the business earned ($0.85) earnings per share. Equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.53 EPS for the current year.

Institutional Trading of Crinetics Pharmaceuticals

Several institutional investors have recently bought and sold shares of CRNX. Comerica Bank acquired a new stake in Crinetics Pharmaceuticals in the first quarter valued at approximately $33,000. Quarry LP acquired a new stake in Crinetics Pharmaceuticals in the fourth quarter valued at approximately $36,000. AJOVista LLC acquired a new stake in Crinetics Pharmaceuticals in the fourth quarter valued at approximately $58,000. HighMark Wealth Management LLC acquired a new stake in Crinetics Pharmaceuticals in the fourth quarter valued at approximately $151,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Crinetics Pharmaceuticals in the first quarter valued at approximately $200,000. 98.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on CRNX. 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 for the company. Jonestrading increased their price target on Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Crinetics Pharmaceuticals in a research note on Tuesday, June 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Crinetics Pharmaceuticals in a research note on Tuesday, May 14th. Finally, JMP Securities reissued a “market outperform” rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

About Crinetics Pharmaceuticals

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.