Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Receives $68.55 Consensus Price Target from Analysts

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eleven research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $68.55.

A number of equities analysts have issued reports on the company. JMP Securities reiterated a "market outperform" rating and set a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Oppenheimer reiterated an "outperform" rating and set a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. HC Wainwright increased their target price on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Piper Sandler reiterated an "overweight" rating and set a $97.00 target price on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 2nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th.

Insider Transactions at Crinetics Pharmaceuticals

In related news, insider Stephen F. Betz sold 3,000 shares of the firm's stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.43, for a total value of $160,290.00. Following the completion of the sale, the insider now directly owns 75,611 shares in the company, valued at approximately $4,039,895.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Dana Pizzuti sold 14,375 shares of the firm's stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen F. Betz sold 3,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.43, for a total transaction of $160,290.00. Following the completion of the transaction, the insider now directly owns 75,611 shares in the company, valued at approximately $4,039,895.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,466 shares of company stock worth $3,462,956 in the last three months. Insiders own 6.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Driehaus Capital Management LLC increased its holdings in shares of Crinetics Pharmaceuticals by 17.0% during the second quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company's stock worth $273,764,000 after purchasing an additional 885,876 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Crinetics Pharmaceuticals by 27.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company's stock worth $178,966,000 after purchasing an additional 814,360 shares during the period. Vanguard Group Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 2.1% during the first quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company's stock worth $167,349,000 after purchasing an additional 72,624 shares during the period. Jennison Associates LLC increased its stake in Crinetics Pharmaceuticals by 10.6% in the first quarter. Jennison Associates LLC now owns 2,817,854 shares of the company's stock valued at $131,904,000 after acquiring an additional 270,171 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Crinetics Pharmaceuticals by 264.1% in the first quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company's stock valued at $92,526,000 after acquiring an additional 1,434,909 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Crinetics Pharmaceuticals Stock Up 0.3 %

CRNX opened at $59.09 on Friday. Crinetics Pharmaceuticals has a 12 month low of $25.75 and a 12 month high of $59.80. The company has a fifty day simple moving average of $52.73 and a 200 day simple moving average of $49.38. The stock has a market cap of $4.66 billion, a P/E ratio of -15.63 and a beta of 0.63.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) EPS for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.08). The company had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.47 million. The firm's quarterly revenue was down 59.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.94) EPS. On average, equities research analysts expect that Crinetics Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

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.