Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report)'s stock had its "sell (d-)" rating restated by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.
A number of other equities research analysts have also issued reports on CRNX. Robert W. Baird increased their price target on Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. HC Wainwright reiterated a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Friday, June 27th. Morgan Stanley increased their price target on Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Leerink Partners increased their price target on Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Finally, JPMorgan Chase & Co. cut their price target on Crinetics Pharmaceuticals from $53.00 to $52.00 and set an "overweight" rating for the company in a research note on Wednesday, September 24th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $74.45.
Get Our Latest Stock Analysis on CRNX
Crinetics Pharmaceuticals Price Performance
Shares of NASDAQ:CRNX traded up $1.93 during midday trading on Wednesday, hitting $44.43. The company had a trading volume of 1,176,640 shares, compared to its average volume of 2,158,178. The company has a market cap of $4.18 billion, a price-to-earnings ratio of -10.81 and a beta of 0.33. Crinetics Pharmaceuticals has a 12-month low of $24.10 and a 12-month high of $62.53. The company has a fifty day moving average of $33.68 and a two-hundred day moving average of $31.91.
Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.10). The firm had revenue of $1.03 million during the quarter, compared to analysts' expectations of $0.52 million. During the same period last year, the business earned ($0.94) EPS. Crinetics Pharmaceuticals's quarterly revenue was up 158.4% compared to the same quarter last year. Research analysts expect that Crinetics Pharmaceuticals will post -3.73 earnings per share for the current fiscal year.
Insider Transactions at Crinetics Pharmaceuticals
In other news, CEO Richard Scott Struthers sold 4,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $45.00, for a total transaction of $180,000.00. Following the completion of the sale, the chief executive officer owned 106,000 shares of the company's stock, valued at approximately $4,770,000. The trade was a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew K. Fust sold 16,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $44.75, for a total transaction of $716,000.00. Following the sale, the director directly owned 22,836 shares of the company's stock, valued at $1,021,911. This represents a 41.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,492 shares of company stock worth $2,207,387. 4.60% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Crinetics Pharmaceuticals
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Crinetics Pharmaceuticals by 2.4% in the first quarter. Vanguard Group Inc. now owns 9,311,600 shares of the company's stock worth $312,311,000 after buying an additional 222,209 shares in the last quarter. Driehaus Capital Management LLC increased its position in shares of Crinetics Pharmaceuticals by 1.6% during the first quarter. Driehaus Capital Management LLC now owns 6,239,902 shares of the company's stock worth $209,286,000 after purchasing an additional 98,888 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Crinetics Pharmaceuticals by 1.0% during the second quarter. Geode Capital Management LLC now owns 2,213,325 shares of the company's stock valued at $63,662,000 after buying an additional 22,393 shares during the last quarter. Paradigm Biocapital Advisors LP grew its holdings in shares of Crinetics Pharmaceuticals by 1.9% during the first quarter. Paradigm Biocapital Advisors LP now owns 1,946,168 shares of the company's stock valued at $65,274,000 after buying an additional 35,407 shares during the last quarter. Finally, Siren L.L.C. grew its holdings in shares of Crinetics Pharmaceuticals by 4.9% during the first quarter. Siren L.L.C. now owns 1,688,611 shares of the company's stock valued at $56,636,000 after buying an additional 78,959 shares during the last quarter. Institutional investors 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.
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