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Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Receives $74.40 Average Price Target from Brokerages

Crinetics Pharmaceuticals logo with Medical background

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) have been assigned a consensus rating of "Buy" from the ten analysts that are presently covering the company, MarketBeat reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $74.40.

Several analysts recently issued reports on the stock. JMP Securities restated a "market outperform" rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Citigroup boosted their price objective on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Finally, HC Wainwright lifted their target price on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th.

View Our Latest Stock Report on Crinetics Pharmaceuticals

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 501 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $56.52, for a total value of $28,316.52. Following the completion of the transaction, the chief operating officer now directly owns 51,653 shares in the company, valued at $2,919,427.56. This represents a 0.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 6.00% of the company's stock.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 3.3% in the second quarter. AQR Capital Management LLC now owns 7,126 shares of the company's stock worth $319,000 after buying an additional 227 shares in the last quarter. US Bancorp DE increased its stake in Crinetics Pharmaceuticals by 3.4% in the 3rd quarter. US Bancorp DE now owns 11,488 shares of the company's stock worth $587,000 after acquiring an additional 373 shares during the last quarter. KBC Group NV raised its holdings in shares of Crinetics Pharmaceuticals by 22.8% during the 3rd quarter. KBC Group NV now owns 2,193 shares of the company's stock worth $112,000 after acquiring an additional 407 shares in the last quarter. Amalgamated Bank boosted its position in shares of Crinetics Pharmaceuticals by 20.8% during the 2nd quarter. Amalgamated Bank now owns 2,692 shares of the company's stock valued at $121,000 after acquiring an additional 464 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Crinetics Pharmaceuticals by 2.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company's stock valued at $1,054,000 after purchasing an additional 505 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX traded up $1.60 during trading hours on Friday, hitting $53.15. The stock had a trading volume of 522,621 shares, compared to its average volume of 546,060. The firm has a market capitalization of $4.93 billion, a PE ratio of -14.25 and a beta of 0.60. Crinetics Pharmaceuticals has a 12 month low of $33.67 and a 12 month high of $62.53. The stock has a fifty day moving average price of $55.92 and a 200 day moving average price of $53.09.

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. As a group, analysts anticipate that Crinetics Pharmaceuticals will post -3.75 EPS for the current fiscal year.

Crinetics Pharmaceuticals Company Profile

(Get Free Report

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.

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