A number of other analysts also recently weighed in on CRNX. Citigroup upped their price target on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. JMP Securities reaffirmed a "market outperform" rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a report on Wednesday, January 22nd. HC Wainwright reaffirmed a "buy" rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Finally, Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They set a "peer perform" rating for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $72.64.
Check Out Our Latest Report on Crinetics Pharmaceuticals
NASDAQ CRNX opened at $36.53 on Tuesday. The company has a market capitalization of $3.39 billion, a P/E ratio of -9.79 and a beta of 0.56. Crinetics Pharmaceuticals has a 12-month low of $35.51 and a 12-month high of $62.53. The firm has a 50-day moving average price of $46.99 and a two-hundred day moving average price of $51.62.
Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data 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 previous year, the company earned ($1.01) EPS. Equities analysts expect that Crinetics Pharmaceuticals will post -3.73 EPS for the current year.
In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $1,240,394.36. This represents a 13.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeff E. Knight sold 501 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.52, for a total transaction of $28,316.52. Following the sale, the chief operating officer now owns 51,653 shares of the company's stock, valued at approximately $2,919,427.56. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company's stock.
Several large investors have recently modified their holdings of CRNX. Venturi Wealth Management LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth $41,000. Harvest Fund Management Co. Ltd bought a new position in shares of Crinetics Pharmaceuticals in the fourth quarter valued at $66,000. Values First Advisors Inc. bought a new position in shares of Crinetics Pharmaceuticals during the third quarter valued at about $84,000. Allspring Global Investments Holdings LLC bought a new position in shares of Crinetics Pharmaceuticals during the third quarter valued at about $91,000. Finally, KBC Group NV lifted its position in shares of Crinetics Pharmaceuticals by 22.8% during the third quarter. KBC Group NV now owns 2,193 shares of the company's stock valued at $112,000 after purchasing an additional 407 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.
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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