Crinetics Pharmaceuticals (NASDAQ:CRNX) Given New $81.00 Price Target at HC Wainwright

Crinetics Pharmaceuticals (NASDAQ:CRNX) had its target price boosted by HC Wainwright from $69.00 to $81.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on CRNX. 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. Oppenheimer reaffirmed an “outperform” rating and issued a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

Crinetics Pharmaceuticals Trading Up 0.2 %

NASDAQ CRNX opened at $58.92 on Wednesday. Crinetics Pharmaceuticals has a 12 month low of $27.55 and a 12 month high of $62.00. The stock has a 50 day moving average of $54.71 and a 200-day moving average of $51.09. The company has a market cap of $4.72 billion, a PE ratio of -15.80 and a beta of 0.62.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings results 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 previous year, the business posted ($1.01) EPS. As a group, sell-side analysts predict that Crinetics Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Stephen F. Betz sold 1,035 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total value of $53,302.50. Following the completion of the sale, the insider now owns 68,576 shares of the company’s stock, valued at approximately $3,531,664. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Stephen F. Betz sold 1,035 shares of Crinetics Pharmaceuticals 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 completion of the sale, the insider now directly owns 68,576 shares in the company, valued at approximately $3,531,664. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Marc Wilson sold 25,000 shares of the business’s stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,410 shares of company stock worth $2,275,929 in the last 90 days. Company insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Comerica Bank acquired a new stake in Crinetics Pharmaceuticals during the first quarter worth about $33,000. Quest Partners LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the 2nd quarter worth approximately $42,000. Values First Advisors Inc. bought a new position in Crinetics Pharmaceuticals in the third quarter valued at approximately $84,000. Allspring Global Investments Holdings LLC acquired a new position in Crinetics Pharmaceuticals during the third quarter valued at approximately $91,000. Finally, KBC Group NV lifted its stake in Crinetics Pharmaceuticals by 22.8% during the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after purchasing an additional 407 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

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.