Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNXGet Free Report) have received an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $70.18.

A number of research analysts have recently weighed in on CRNX shares. JMP Securities reiterated a “market outperform” rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Citigroup increased their price target on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Oppenheimer reiterated an “outperform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. Finally, HC Wainwright lifted their target price on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

View Our Latest Analysis on Crinetics Pharmaceuticals

Crinetics Pharmaceuticals Stock Up 1.6 %

Shares of NASDAQ CRNX opened at $56.07 on Thursday. The business has a fifty day simple moving average of $55.20 and a 200-day simple moving average of $51.46. The company has a market cap of $5.20 billion, a price-to-earnings ratio of -15.03 and a beta of 0.62. Crinetics Pharmaceuticals has a 12 month low of $29.72 and a 12 month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNXGet Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same quarter in the prior year, the firm earned ($1.01) EPS. As a group, sell-side analysts expect that Crinetics Pharmaceuticals will post -3.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Marc Wilson sold 25,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $51.11, for a total value of $1,277,750.00. Following the completion of the sale, the chief financial officer now directly owns 111,092 shares in the company, valued at approximately $5,677,912.12. The trade was a 18.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $785,306.25. Following the completion of the transaction, the insider now owns 28,507 shares in the company, valued at $1,557,337.41. The trade was a 33.52 % decrease in their ownership of the stock. 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 three months. 6.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank bought a new position in shares of Crinetics Pharmaceuticals in the first quarter worth about $33,000. Quest Partners LLC acquired a new stake in Crinetics Pharmaceuticals in the 2nd quarter valued at approximately $42,000. Values First Advisors Inc. bought a new position in Crinetics Pharmaceuticals in the 3rd quarter worth approximately $84,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Crinetics Pharmaceuticals during the third quarter worth approximately $91,000. Finally, KBC Group NV boosted its position in shares of 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 acquiring an additional 407 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Crinetics Pharmaceuticals (NASDAQ:CRNX)

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