Piper Sandler Raises Crinetics Pharmaceuticals (NASDAQ:CRNX) Price Target to $97.00

Crinetics Pharmaceuticals (NASDAQ:CRNX - Free Report) had its price target boosted by Piper Sandler from $56.00 to $97.00 in a research report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird raised their price target on shares of Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the stock an outperform rating in a report on Thursday, February 29th. Cantor Fitzgerald lifted their price target on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the company an overweight rating in a research report on Monday, March 4th. Jonestrading upped their price objective on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a buy rating in a report on Wednesday, March 20th. HC Wainwright reiterated a buy rating and set a $50.00 price objective on shares of Crinetics Pharmaceuticals in a report on Tuesday, March 19th. Finally, Citigroup started coverage on shares of Crinetics Pharmaceuticals in a report on Wednesday, March 6th. They issued a buy rating and a $68.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Crinetics Pharmaceuticals presently has an average rating of Moderate Buy and a consensus target price of $57.58.

Crinetics Pharmaceuticals Stock Up 2.5 %

Crinetics Pharmaceuticals stock traded up $1.16 during trading hours on Tuesday, reaching $47.66. 677,922 shares of the company's stock were exchanged, compared to its average volume of 761,405. The firm has a market capitalization of $3.75 billion, a PE ratio of -12.57 and a beta of 0.63. The firm's 50 day simple moving average is $43.99 and its 200 day simple moving average is $37.54. Crinetics Pharmaceuticals has a twelve month low of $15.76 and a twelve month high of $49.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 52.93% and a negative net margin of 4,223.27%. The firm's revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.84) EPS. Analysts anticipate that Crinetics Pharmaceuticals will post -3.34 EPS for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, CEO Richard Scott Struthers sold 40,951 shares of the company's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $49.17, for a total value of $2,013,560.67. Following the transaction, the chief executive officer now owns 237,835 shares in the company, valued at $11,694,346.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Dana Pizzuti sold 15,089 shares of Crinetics Pharmaceuticals stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $44.06, for a total value of $664,821.34. Following the completion of the transaction, the insider now owns 27,786 shares in the company, valued at $1,224,251.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Scott Struthers sold 40,951 shares of the firm's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $49.17, for a total transaction of $2,013,560.67. Following the completion of the transaction, the chief executive officer now directly owns 237,835 shares of the company's stock, valued at $11,694,346.95. The disclosure for this sale can be found here. Insiders have sold a total of 187,216 shares of company stock worth $8,509,397 over the last three months. 7.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Quarry LP bought a new position in shares of Crinetics Pharmaceuticals in the fourth quarter worth $36,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Crinetics Pharmaceuticals by 98.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,403 shares of the company's stock valued at $42,000 after acquiring an additional 695 shares in the last quarter. AJOVista LLC bought a new stake in shares of Crinetics Pharmaceuticals during the 4th quarter valued at about $58,000. HighMark Wealth Management LLC purchased a new stake in Crinetics Pharmaceuticals in the fourth quarter valued at approximately $151,000. Finally, Amalgamated Bank raised its position in shares of Crinetics Pharmaceuticals by 10.4% during the 3rd quarter. Amalgamated Bank now owns 6,298 shares of the company's stock valued at $187,000 after buying an additional 592 shares in the last quarter. 98.51% of the stock is owned by institutional investors.

About Crinetics Pharmaceuticals

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.