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

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $68.55.

CRNX has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. HC Wainwright increased their target price on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Oppenheimer reiterated an “outperform” rating and set a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. Piper Sandler reiterated an “overweight” rating and set a $97.00 target price on shares of Crinetics Pharmaceuticals in a research note on Tuesday, July 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th.

Insider Buying and Selling

In related news, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,557,337.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total value of $1,277,750.00. Following the sale, the chief financial officer now owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider now directly owns 28,507 shares in the company, valued at approximately $1,557,337.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,410 shares of company stock valued at $2,275,929 over the last 90 days. 6.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Driehaus Capital Management LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 17.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company’s stock valued at $273,764,000 after purchasing an additional 885,876 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Crinetics Pharmaceuticals by 27.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company’s stock valued at $178,966,000 after purchasing an additional 814,360 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Crinetics Pharmaceuticals by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company’s stock valued at $167,349,000 after purchasing an additional 72,624 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Crinetics Pharmaceuticals by 10.6% in the 1st quarter. Jennison Associates LLC now owns 2,817,854 shares of the company’s stock valued at $131,904,000 after acquiring an additional 270,171 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Crinetics Pharmaceuticals by 264.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company’s stock valued at $92,526,000 after acquiring an additional 1,434,909 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Stock Down 1.3 %

NASDAQ:CRNX opened at $57.96 on Friday. The stock’s 50 day moving average price is $53.49 and its two-hundred day moving average price is $49.81. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of -15.33 and a beta of 0.63. Crinetics Pharmaceuticals has a 12-month low of $25.75 and a 12-month high of $60.04.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.08). The business had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.47 million. The firm’s revenue for the quarter was down 59.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.94) EPS. Equities research analysts expect that Crinetics Pharmaceuticals will post -3.72 EPS for the current year.

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.