Analysts Set Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Target Price at $68.55

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) have received an average rating of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $68.55.

A number of equities analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and set a $97.00 price target on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 2nd. HC Wainwright lifted their price target on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Oppenheimer reissued an “outperform” rating and set a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their target price on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th.

Insider Buying and Selling

In other news, CFO Marc Wilson sold 19,056 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.88, for a total transaction of $1,026,737.28. Following the completion of the transaction, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at $5,985,636.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total value of $785,306.25. Following the completion of the sale, the insider now owns 28,507 shares of the company’s stock, valued at approximately $1,557,337.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Marc Wilson sold 19,056 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.88, for a total transaction of $1,026,737.28. Following the sale, the chief financial officer now directly owns 111,092 shares in the company, valued at approximately $5,985,636.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,466 shares of company stock valued at $3,462,956. 6.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Several large investors have recently modified their holdings of CRNX. AQR Capital Management LLC grew its position in shares of Crinetics Pharmaceuticals by 3.3% in the second quarter. AQR Capital Management LLC now owns 7,126 shares of the company’s stock valued at $319,000 after purchasing an additional 227 shares in the last quarter. Amalgamated Bank grew its holdings in Crinetics Pharmaceuticals by 20.8% during the 2nd quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock valued at $121,000 after buying an additional 464 shares in the last quarter. Comerica Bank bought a new stake in shares of Crinetics Pharmaceuticals during the first quarter valued at about $33,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Crinetics Pharmaceuticals by 2.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 38,087 shares of the company’s stock worth $1,783,000 after buying an additional 927 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the second quarter worth about $42,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Stock Up 1.6 %

NASDAQ CRNX opened at $59.61 on Friday. The company has a market cap of $4.70 billion, a price-to-earnings ratio of -15.77 and a beta of 0.63. Crinetics Pharmaceuticals has a twelve month low of $25.75 and a twelve month high of $60.04. The business’s fifty day moving average is $53.10 and its 200 day moving average is $49.59.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The company had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.47 million. The firm’s revenue for the quarter was down 59.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.94) EPS. On average, research analysts anticipate that Crinetics Pharmaceuticals will post -3.72 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.