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

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $69.64.

CRNX has been the subject of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. JMP Securities reissued a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. HC Wainwright increased their price target on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Oppenheimer reiterated an “outperform” rating and set a $73.00 price objective (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th.

Crinetics Pharmaceuticals Stock Performance

Shares of Crinetics Pharmaceuticals stock opened at $58.92 on Thursday. Crinetics Pharmaceuticals has a 52 week low of $27.55 and a 52 week high of $62.00. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of -15.80 and a beta of 0.62. The firm has a fifty day moving average of $54.71 and a two-hundred day moving average of $51.09.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter in the previous year, the business earned ($1.01) earnings per share. As a group, research analysts forecast that Crinetics Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Dana Pizzuti sold 14,375 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total value of $785,306.25. Following the completion of the transaction, the insider now owns 28,507 shares of the company’s stock, valued at approximately $1,557,337.41. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Dana Pizzuti sold 14,375 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total transaction of $785,306.25. Following the sale, the insider now owns 28,507 shares in the company, valued at approximately $1,557,337.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen F. Betz sold 1,035 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total value of $53,302.50. Following the transaction, the insider now directly owns 68,576 shares of the company’s stock, valued at $3,531,664. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,410 shares of company stock valued at $2,275,929 in the last quarter. 6.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Comerica Bank acquired a new stake in Crinetics Pharmaceuticals in the first quarter valued at $33,000. Quest Partners LLC acquired a new stake in Crinetics Pharmaceuticals in the 2nd quarter valued at about $42,000. Values First Advisors Inc. bought a new position in Crinetics Pharmaceuticals during the third quarter worth about $84,000. Allspring Global Investments Holdings LLC acquired a new position in Crinetics Pharmaceuticals during the third quarter worth approximately $91,000. Finally, KBC Group NV raised its stake in Crinetics Pharmaceuticals by 22.8% in the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after buying an additional 407 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Company Profile

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.