Crinetics Pharmaceuticals (NASDAQ:CRNX) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Crinetics Pharmaceuticals (NASDAQ:CRNX) in a research note published on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $60.00 target price on the stock.

A number of other analysts also recently commented on the company. Wolfe Research started coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a “peer perform” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. TD Cowen assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating for the company. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, January 22nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Crinetics Pharmaceuticals Trading Up 1.1 %

NASDAQ CRNX opened at $34.90 on Tuesday. Crinetics Pharmaceuticals has a 12-month low of $31.84 and a 12-month high of $62.53. The company has a fifty day simple moving average of $36.07 and a two-hundred day simple moving average of $47.68. The stock has a market cap of $3.25 billion, a P/E ratio of -9.36 and a beta of 0.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. As a group, sell-side analysts forecast that Crinetics Pharmaceuticals will post -3.73 earnings per share for the current year.

Insider Activity at Crinetics Pharmaceuticals

In related news, COO Jeff E. Knight sold 7,162 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $244,940.40. Following the transaction, the chief operating officer now directly owns 87,491 shares in the company, valued at approximately $2,992,192.20. The trade was a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dana Pizzuti sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the completion of the sale, the insider now owns 31,748 shares of the company’s stock, valued at approximately $1,240,394.36. The trade was a 13.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,015 shares of company stock valued at $1,119,263. 6.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its position in Crinetics Pharmaceuticals by 75.5% during the third quarter. Barclays PLC now owns 207,712 shares of the company’s stock worth $10,614,000 after buying an additional 89,358 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Crinetics Pharmaceuticals by 61.4% in the 3rd 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 last quarter. Geode Capital Management LLC raised its holdings in shares of Crinetics Pharmaceuticals by 10.1% during the 3rd 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 boosted its position in shares of Crinetics Pharmaceuticals by 4,084.6% during the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock valued at $27,735,000 after acquiring an additional 529,483 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Crinetics Pharmaceuticals by 8.4% during the 3rd quarter. Fisher Asset Management LLC now owns 482,099 shares of the company’s stock valued at $24,635,000 after acquiring an additional 37,429 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.