Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Get Free Report) COO Jeff E. Knight sold 956 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $44.38, for a total transaction of $42,427.28. Following the transaction, the chief operating officer now owns 52,580 shares in the company, valued at $2,333,500.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Crinetics Pharmaceuticals Price Performance
NASDAQ:CRNX opened at $44.79 on Monday. The business’s 50-day simple moving average is $46.36 and its 200-day simple moving average is $42.04. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $15.76 and a fifty-two week high of $53.70. The stock has a market capitalization of $3.53 billion, a PE ratio of -11.85 and a beta of 0.64.
Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.09). The company had revenue of $0.64 million for the quarter, compared to the consensus estimate of $0.20 million. Crinetics Pharmaceuticals had a negative return on equity of 42.50% and a negative net margin of 4,223.27%. The firm’s revenue was down 76.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.85) EPS. On average, research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.53 earnings per share for the current year.
Institutional Investors Weigh In On Crinetics Pharmaceuticals
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on CRNX shares. HC Wainwright restated a “buy” rating and issued a $60.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday. Robert W. Baird lifted their price objective on Crinetics Pharmaceuticals from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Jonestrading upped their target price on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Morgan Stanley lifted their price target on shares of Crinetics Pharmaceuticals from $50.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, Piper Sandler increased their price objective on shares of Crinetics Pharmaceuticals from $56.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Crinetics Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $62.50.
Check Out Our Latest Stock Report on CRNX
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.
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