Brokerages Set Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Price Target at $72.64

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) has been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $73.00.

A number of research analysts have weighed in on CRNX shares. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, January 22nd. HC Wainwright reiterated a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Stifel Nicolaus started coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday. They issued a “buy” rating and a $60.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and set a $87.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Finally, TD Cowen assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating for the company.

Insider Transactions at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 2,515 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $86,013.00. Following the transaction, the insider now owns 72,233 shares in the company, valued at approximately $2,470,368.60. This trade represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jeff E. Knight sold 7,162 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $244,940.40. Following the completion of the sale, the chief operating officer now owns 87,491 shares of the company’s stock, valued at approximately $2,992,192.20. The trade was a 7.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,015 shares of company stock worth $1,119,263 in the last ninety days. Insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Crinetics Pharmaceuticals by 75.5% in the 3rd quarter. Barclays PLC now owns 207,712 shares of the company’s stock valued at $10,614,000 after buying an additional 89,358 shares during the period. Franklin Resources Inc. grew its position in Crinetics Pharmaceuticals by 61.4% in the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock worth $73,815,000 after acquiring an additional 528,688 shares during the period. Geode Capital Management LLC grew its position in Crinetics Pharmaceuticals by 10.1% in the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock worth $94,458,000 after acquiring an additional 169,746 shares during the period. SG Americas Securities LLC increased its stake in Crinetics Pharmaceuticals by 4,084.6% during the fourth quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock worth $27,735,000 after acquiring an additional 529,483 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Crinetics Pharmaceuticals by 0.5% in the third quarter. Jennison Associates LLC now owns 2,793,614 shares of the company’s stock valued at $142,754,000 after purchasing an additional 13,470 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Stock Down 2.4 %

Shares of CRNX stock opened at $35.07 on Wednesday. Crinetics Pharmaceuticals has a 52-week low of $31.84 and a 52-week high of $62.53. The stock has a market cap of $3.26 billion, a PE ratio of -9.40 and a beta of 0.58. The business has a 50-day simple moving average of $36.15 and a 200-day simple moving average of $47.86.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.04. Sell-side analysts anticipate that Crinetics Pharmaceuticals will post -3.73 earnings per share 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.