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

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eleven research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $54.00.

A number of equities analysts recently weighed in on the stock. HC Wainwright restated a "buy" rating and set a $50.00 target price on shares of Crinetics Pharmaceuticals in a research report on Tuesday, March 19th. Oppenheimer upped their target price on shares of Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 20th. Robert W. Baird upped their target price on shares of Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday, February 29th. Cantor Fitzgerald upped their target price on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, March 4th. Finally, Jonestrading upped their target price on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a "buy" rating in a research report on Wednesday, March 20th.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX traded down $0.17 during mid-day trading on Friday, reaching $42.12. The stock had a trading volume of 563,205 shares, compared to its average volume of 759,626. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -11.38 and a beta of 0.63. Crinetics Pharmaceuticals has a 12 month low of $15.76 and a 12 month high of $49.58. The business has a fifty day moving average of $43.00 and a 200 day moving average of $36.74.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates 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%. Crinetics Pharmaceuticals's quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.84) earnings per share. On average, research analysts forecast that Crinetics Pharmaceuticals will post -3.34 EPS for the current fiscal year.

Insider Activity at Crinetics Pharmaceuticals

In other news, Director Stephanie Okey sold 17,500 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $46.38, for a total value of $811,650.00. Following the sale, the director now owns 6,000 shares of the company's stock, valued at $278,280. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Stephanie Okey sold 17,500 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $46.38, for a total value of $811,650.00. Following the sale, the director now owns 6,000 shares of the company's stock, valued at $278,280. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $44.47, for a total transaction of $639,256.25. Following the completion of the sale, the insider now directly owns 27,786 shares in the company, valued at approximately $1,235,643.42. The disclosure for this sale can be found here. Insiders have sold a total of 187,216 shares of company stock valued at $8,509,397 over the last 90 days. 7.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in CRNX. Campbell & CO Investment Adviser LLC grew its holdings in shares of Crinetics Pharmaceuticals by 196.0% in the third quarter. Campbell & CO Investment Adviser LLC now owns 63,917 shares of the company's stock worth $1,901,000 after purchasing an additional 42,323 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Crinetics Pharmaceuticals by 31.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 461,303 shares of the company's stock worth $13,719,000 after purchasing an additional 110,565 shares during the last quarter. Vivo Capital LLC bought a new position in shares of Crinetics Pharmaceuticals in the third quarter worth about $10,409,000. Victory Capital Management Inc. bought a new position in shares of Crinetics Pharmaceuticals in the third quarter worth about $1,338,000. Finally, Swiss National Bank grew its holdings in shares of Crinetics Pharmaceuticals by 41.6% in the third quarter. Swiss National Bank now owns 116,400 shares of the company's stock worth $3,462,000 after purchasing an additional 34,200 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

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.