Brokerages Set Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Target Price at $74.40

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) have earned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $74.40.

Several equities analysts have recently commented on CRNX shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. HC Wainwright lifted their target price on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Finally, Citigroup lifted their price objective on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th.

Insider Activity

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 501 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.52, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of Crinetics Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Quest Partners LLC acquired a new position in Crinetics Pharmaceuticals during the second quarter worth about $42,000. Values First Advisors Inc. bought a new stake in shares of Crinetics Pharmaceuticals during the 3rd quarter valued at approximately $84,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Crinetics Pharmaceuticals during the 3rd quarter valued at approximately $91,000. KBC Group NV increased its position in Crinetics Pharmaceuticals by 22.8% during the 3rd quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after purchasing an additional 407 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Crinetics Pharmaceuticals by 20.8% in the 2nd quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock valued at $121,000 after purchasing an additional 464 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

Crinetics Pharmaceuticals Price Performance

Shares of Crinetics Pharmaceuticals stock opened at $49.42 on Friday. Crinetics Pharmaceuticals has a 1 year low of $33.80 and a 1 year high of $62.53. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of -13.25 and a beta of 0.60. The business has a fifty day simple moving average of $55.65 and a two-hundred day simple moving average of $53.29.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period last year, the company earned ($1.01) EPS. As a group, equities analysts anticipate that Crinetics Pharmaceuticals will post -3.75 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.