Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $64.75.
Several analysts recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Tuesday, May 14th. Morgan Stanley raised their price objective on Crinetics Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Robert W. Baird raised their price objective on Crinetics Pharmaceuticals from $52.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd.
Check Out Our Latest Analysis on Crinetics Pharmaceuticals
Insider Transactions at Crinetics Pharmaceuticals
Hedge Funds Weigh In On Crinetics Pharmaceuticals
Hedge funds have recently made changes to their positions in the stock. Comerica Bank acquired a new stake in Crinetics Pharmaceuticals during the first quarter worth approximately $33,000. Quarry LP acquired a new stake in Crinetics Pharmaceuticals during the fourth quarter worth approximately $36,000. Quest Partners LLC acquired a new stake in Crinetics Pharmaceuticals during the second quarter worth approximately $42,000. AJOVista LLC acquired a new stake in Crinetics Pharmaceuticals during the fourth quarter worth approximately $58,000. Finally, Amalgamated Bank grew its stake in Crinetics Pharmaceuticals by 20.8% during the second quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock worth $121,000 after purchasing an additional 464 shares during the period. 98.51% of the stock is currently owned by institutional investors.
Crinetics Pharmaceuticals Stock Performance
CRNX opened at $52.80 on Friday. The firm has a market cap of $4.16 billion, a P/E ratio of -13.97 and a beta of 0.63. Crinetics Pharmaceuticals has a 52-week low of $15.76 and a 52-week high of $55.78. The business’s fifty day moving average is $51.13 and its 200-day moving average is $47.00.
Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.08). The firm had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.47 million. The business’s quarterly revenue was down 59.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.94) earnings per share. On average, research analysts predict that Crinetics Pharmaceuticals will post -3.72 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.
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