Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Given Average Rating of "Moderate Buy" by Brokerages

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the ten ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $69.50.

A number of analysts have recently weighed in on CRNX shares. HC Wainwright restated a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Friday, June 27th. The Goldman Sachs Group started coverage on shares of Crinetics Pharmaceuticals in a report on Thursday, July 10th. They issued a "neutral" rating and a $36.00 price target on the stock.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX traded up $0.58 during midday trading on Tuesday, hitting $30.99. The stock had a trading volume of 737,220 shares, compared to its average volume of 805,751. Crinetics Pharmaceuticals has a 1 year low of $24.10 and a 1 year high of $62.53. The firm has a market cap of $2.90 billion, a PE ratio of -8.11 and a beta of 0.25. The stock's 50 day moving average is $30.91 and its 200 day moving average is $33.12.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.05). The firm had revenue of $0.36 million for the quarter, compared to analysts' expectations of $0.10 million. During the same quarter in the previous year, the firm posted ($0.93) EPS. The company's revenue was down 43.6% on a year-over-year basis. As a group, equities research analysts expect that Crinetics Pharmaceuticals will post -3.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, insider Stephen F. Betz sold 97,483 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $32.23, for a total transaction of $3,141,877.09. Following the completion of the sale, the insider directly owned 99,713 shares of the company's stock, valued at $3,213,749.99. This trade represents a 49.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRNX. State of Wyoming acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter valued at $50,000. Headlands Technologies LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter valued at $52,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter valued at $66,000. GF Fund Management CO. LTD. boosted its stake in shares of Crinetics Pharmaceuticals by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 2,375 shares of the company's stock valued at $80,000 after acquiring an additional 428 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the first quarter valued at $95,000. Hedge funds and other 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.