Crinetics Pharmaceuticals' (CRNX) Buy Rating Reiterated at HC Wainwright

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $81.00 target price on the stock. HC Wainwright's price objective suggests a potential upside of 107.80% from the stock's previous close.

CRNX has been the topic of several other research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Citigroup upped their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $74.40.

Crinetics Pharmaceuticals Trading Down 4.0 %

Shares of NASDAQ:CRNX traded down $1.61 on Monday, reaching $38.98. 1,901,915 shares of the company were exchanged, compared to its average volume of 1,149,581. Crinetics Pharmaceuticals has a 1-year low of $35.24 and a 1-year high of $62.53. The company has a 50-day moving average of $55.04 and a 200-day moving average of $53.32. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -10.45 and a beta of 0.60.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.05). During the same quarter in the prior year, the firm earned ($1.01) EPS. As a group, analysts forecast that Crinetics Pharmaceuticals will post -3.75 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in Crinetics Pharmaceuticals by 3.3% during the second quarter. AQR Capital Management LLC now owns 7,126 shares of the company's stock valued at $319,000 after purchasing an additional 227 shares during the last quarter. US Bancorp DE increased its position in Crinetics Pharmaceuticals by 3.4% in the third quarter. US Bancorp DE now owns 11,488 shares of the company's stock worth $587,000 after buying an additional 373 shares during the period. KBC Group NV lifted its stake 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 during the last quarter. Amalgamated Bank boosted its holdings in shares of Crinetics Pharmaceuticals by 20.8% during the second 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 period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Crinetics Pharmaceuticals by 2.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company's stock worth $1,054,000 after acquiring an additional 505 shares during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

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.