Analysts Set Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Target Price at $73.00

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and twelve have given 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 $73.00.

A number of equities research analysts have weighed in on the company. Stifel Nicolaus initiated coverage on Crinetics Pharmaceuticals in a research note on Tuesday, March 25th. They issued a "buy" rating and a $60.00 price objective for the company. Wolfe Research started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a "peer perform" rating for the company. HC Wainwright reaffirmed a "buy" rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. TD Cowen assumed coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating for the company. Finally, Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a research report on Wednesday, January 22nd.

Crinetics Pharmaceuticals Trading Down 0.3 %

CRNX stock traded down $0.08 during midday trading on Friday, hitting $29.50. 77,724 shares of the company's stock were exchanged, compared to its average volume of 1,055,695. The business has a 50-day simple moving average of $32.94 and a two-hundred day simple moving average of $45.19. Crinetics Pharmaceuticals has a 1-year low of $24.10 and a 1-year high of $62.53. The stock has a market capitalization of $2.74 billion, a PE ratio of -7.91 and a beta of 0.37.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.04. As a group, research analysts expect that Crinetics Pharmaceuticals will post -3.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dana Pizzuti sold 5,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the transaction, the insider now directly owns 31,748 shares of the company's stock, valued at approximately $1,240,394.36. The trade was a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard Scott Struthers sold 17,338 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $592,959.60. Following the sale, the chief executive officer now directly owns 329,147 shares of the company's stock, valued at approximately $11,256,827.40. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,015 shares of company stock worth $1,119,263 over the last ninety days. 6.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC acquired a new position in shares of Crinetics Pharmaceuticals in the 4th quarter valued at approximately $41,000. State of Wyoming bought a new position in Crinetics Pharmaceuticals during the 4th quarter valued at $50,000. Headlands Technologies LLC acquired a new position in Crinetics Pharmaceuticals during the 4th quarter worth $52,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter worth about $66,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter valued at about $100,000. Institutional investors and hedge funds 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.