Crinetics Pharmaceuticals (NASDAQ:CRNX) Price Target Raised to $74.00

Crinetics Pharmaceuticals (NASDAQ:CRNX) had its target price upped by Citigroup from $70.00 to $74.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $73.00 price target (down from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. HC Wainwright increased their target price on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, JMP Securities reissued a “market outperform” rating and set a $80.00 target price on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $70.18.

Crinetics Pharmaceuticals Stock Down 8.3 %

Crinetics Pharmaceuticals stock opened at $54.72 on Thursday. The firm has a 50-day moving average price of $54.97 and a two-hundred day moving average price of $51.32. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of -14.67 and a beta of 0.62. Crinetics Pharmaceuticals has a 52-week low of $27.55 and a 52-week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same period in the prior year, the business earned ($1.01) EPS. Research analysts expect that Crinetics Pharmaceuticals will post -3.75 earnings per share for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 1,035 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total value of $53,302.50. Following the transaction, the insider now owns 68,576 shares in the company, valued at approximately $3,531,664. This represents a 1.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marc Wilson sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the completion of the sale, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at $5,677,912.12. This represents a 18.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,410 shares of company stock worth $2,275,929. 6.00% of the stock is currently owned by company insiders.

Institutional Trading of Crinetics Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in Crinetics Pharmaceuticals by 3.3% in the second quarter. AQR Capital Management LLC now owns 7,126 shares of the company’s stock worth $319,000 after acquiring an additional 227 shares in the last quarter. US Bancorp DE grew its position in Crinetics Pharmaceuticals by 3.4% in the third quarter. US Bancorp DE now owns 11,488 shares of the company’s stock worth $587,000 after acquiring an additional 373 shares in the last quarter. KBC Group NV grew its position in Crinetics Pharmaceuticals by 22.8% in the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after acquiring an additional 407 shares in the last quarter. Amalgamated Bank grew its position in Crinetics Pharmaceuticals by 20.8% in the second quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock worth $121,000 after acquiring an additional 464 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Crinetics Pharmaceuticals by 2.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company’s stock worth $1,054,000 after buying an additional 505 shares during the period. 98.51% of the stock is owned by institutional investors.

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.