Crinetics Pharmaceuticals (NASDAQ:CRNX) Coverage Initiated by Analysts at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) in a research report issued on Tuesday, Marketbeat.com reports. The firm set a "buy" rating and a $60.00 price target on the stock. Stifel Nicolaus' price objective suggests a potential upside of 72.76% from the company's current price.

A number of other brokerages also recently weighed in on CRNX. JMP Securities restated a "market outperform" rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Wolfe Research started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a "peer perform" rating on the stock. Jefferies Financial Group raised Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research report on Wednesday, January 22nd. HC Wainwright reiterated a "buy" rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. Finally, TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a "buy" rating for the company. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $73.00.

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Crinetics Pharmaceuticals Stock Down 0.5 %

NASDAQ:CRNX traded down $0.17 during trading hours on Tuesday, hitting $34.73. 690,164 shares of the company traded hands, compared to its average volume of 830,038. The company has a market cap of $3.23 billion, a PE ratio of -9.31 and a beta of 0.58. The firm's 50-day simple moving average is $36.02 and its 200-day simple moving average is $47.53. Crinetics Pharmaceuticals has a one year low of $31.84 and a one year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. As a group, equities research analysts expect that Crinetics Pharmaceuticals will post -3.73 EPS for the current year.

Insider Activity

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $592,959.60. Following the sale, the chief executive officer now owns 329,147 shares of the company's stock, valued at $11,256,827.40. The trade was a 5.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dana Pizzuti sold 2,515 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $86,013.00. Following the sale, the insider now owns 72,233 shares in the company, valued at approximately $2,470,368.60. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,015 shares of company stock valued at $1,119,263 over the last quarter. Company insiders own 6.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CRNX. Barclays PLC lifted its holdings in shares of Crinetics Pharmaceuticals by 75.5% in the third quarter. Barclays PLC now owns 207,712 shares of the company's stock worth $10,614,000 after buying an additional 89,358 shares in the last quarter. Franklin Resources Inc. increased its holdings in Crinetics Pharmaceuticals by 61.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company's stock worth $73,815,000 after acquiring an additional 528,688 shares during the period. Geode Capital Management LLC lifted its stake in Crinetics Pharmaceuticals by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company's stock worth $94,458,000 after purchasing an additional 169,746 shares in the last quarter. SG Americas Securities LLC lifted its stake in Crinetics Pharmaceuticals by 4,084.6% in the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company's stock worth $27,735,000 after purchasing an additional 529,483 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Crinetics Pharmaceuticals by 8.4% in the 3rd quarter. Fisher Asset Management LLC now owns 482,099 shares of the company's stock valued at $24,635,000 after purchasing an additional 37,429 shares during the period. Institutional investors own 98.51% of the company's stock.

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.