Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Get Free Report) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $68.55.
CRNX has been the topic of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and set a $73.00 price target (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. HC Wainwright boosted their price objective on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JMP Securities reissued a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $97.00 target price on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 2nd.
Read Our Latest Report on CRNX
Insider Transactions at Crinetics Pharmaceuticals
Hedge Funds Weigh In On Crinetics Pharmaceuticals
Hedge funds have recently made changes to their positions in the business. Comerica Bank acquired a new position in shares of Crinetics Pharmaceuticals in the 1st quarter valued at $33,000. Quest Partners LLC acquired a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at $42,000. Values First Advisors Inc. acquired a new position in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at $84,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at $91,000. Finally, Amalgamated Bank grew its holdings in shares of Crinetics Pharmaceuticals by 20.8% in the 2nd quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock worth $121,000 after purchasing an additional 464 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.
Crinetics Pharmaceuticals Price Performance
CRNX stock opened at $58.74 on Friday. Crinetics Pharmaceuticals has a 52-week low of $25.75 and a 52-week high of $60.04. The company’s 50 day simple moving average is $53.36 and its 200-day simple moving average is $49.71. The firm has a market capitalization of $4.63 billion, a P/E ratio of -15.54 and a beta of 0.63.
Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The firm had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.47 million. During the same quarter in the prior year, the company earned ($0.94) EPS. Crinetics Pharmaceuticals’s revenue for the quarter was down 59.6% compared to the same quarter last year. Sell-side analysts predict that Crinetics Pharmaceuticals will post -3.72 EPS for the current fiscal year.
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.
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