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

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) has earned an average rating of "Moderate Buy" from the thirteen ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $72.64.

A number of brokerages have weighed in on CRNX. HC Wainwright reiterated a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. JMP Securities reiterated a "market outperform" rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a report on Wednesday, January 22nd. Citigroup lifted their price target on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Finally, TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating on the stock.

Crinetics Pharmaceuticals Stock Performance

CRNX stock opened at $37.48 on Friday. The stock has a market capitalization of $3.48 billion, a P/E ratio of -10.05 and a beta of 0.56. Crinetics Pharmaceuticals has a one year low of $34.07 and a one year high of $62.53. The company has a 50 day moving average price of $43.17 and a two-hundred day moving average price of $50.61.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.07, for a total value of $195,350.00. Following the completion of the transaction, the insider now directly owns 31,748 shares of the company's stock, valued at $1,240,394.36. This represents a 13.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC purchased a new position in Crinetics Pharmaceuticals in the 4th quarter valued at about $41,000. State of Wyoming purchased a new position in Crinetics Pharmaceuticals in the 4th quarter valued at about $50,000. Headlands Technologies LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter valued at about $52,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter valued at about $66,000. Finally, Values First Advisors Inc. acquired a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at about $84,000. 98.51% of the stock is owned by hedge funds and other 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.

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