Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eleven analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $70.18.

A number of research firms have recently commented on CRNX. JMP Securities restated a "market outperform" rating and issued a $80.00 price target on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Oppenheimer reiterated an "outperform" rating and issued a $73.00 target price (down from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. HC Wainwright raised their price target on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a "buy" rating in a research note on Wednesday. Citigroup upped their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th.

Crinetics Pharmaceuticals Trading Up 1.3 %

Shares of NASDAQ:CRNX traded up $0.74 during trading on Thursday, reaching $59.66. 856,455 shares of the company traded hands, compared to its average volume of 784,822. The business's fifty day moving average is $54.88 and its 200-day moving average is $51.15. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of -15.99 and a beta of 0.62. Crinetics Pharmaceuticals has a 52-week low of $27.55 and a 52-week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period last year, the firm earned ($1.01) earnings per share. On average, sell-side analysts predict that Crinetics Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Stephen F. Betz sold 1,035 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total value of $53,302.50. Following the sale, the insider now directly owns 68,576 shares of the company's stock, valued at approximately $3,531,664. The trade was a 1.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Dana Pizzuti sold 14,375 shares of the business's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total transaction of $785,306.25. Following the completion of the sale, the insider now directly owns 28,507 shares in the company, valued at approximately $1,557,337.41. This represents a 33.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,410 shares of company stock valued at $2,275,929 over the last three months. 6.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Comerica Bank acquired a new stake in shares of Crinetics Pharmaceuticals during the 1st quarter worth approximately $33,000. Quest Partners LLC bought a new stake in shares of Crinetics Pharmaceuticals during the 2nd quarter valued at approximately $42,000. Values First Advisors Inc. acquired a new position in Crinetics Pharmaceuticals during the 3rd quarter worth approximately $84,000. Allspring Global Investments Holdings LLC bought a new position in Crinetics Pharmaceuticals in the 3rd quarter valued at approximately $91,000. Finally, KBC Group NV boosted its position in Crinetics Pharmaceuticals by 22.8% in the third quarter. KBC Group NV now owns 2,193 shares of the company's stock valued at $112,000 after buying an additional 407 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.