Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Get Free Report) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $64.08.
A number of research analysts have commented on the company. Oppenheimer boosted their price objective on Crinetics Pharmaceuticals from $55.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 4th. Robert W. Baird increased their price objective on shares of Crinetics Pharmaceuticals from $52.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Morgan Stanley lifted their price objective on shares of Crinetics Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. upped their target price on shares of Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $97.00 price target on shares of Crinetics Pharmaceuticals in a research note on Tuesday, July 2nd.
View Our Latest Stock Report on CRNX
Insider Transactions at Crinetics Pharmaceuticals
Institutional Trading of Crinetics Pharmaceuticals
Hedge funds have recently made changes to their positions in the stock. Comerica Bank acquired a new stake in Crinetics Pharmaceuticals in the first quarter worth $33,000. Quarry LP acquired a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter worth about $36,000. AJOVista LLC bought a new stake in Crinetics Pharmaceuticals in the 4th quarter valued at about $58,000. HighMark Wealth Management LLC bought a new stake in Crinetics Pharmaceuticals in the 4th quarter valued at about $151,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Crinetics Pharmaceuticals in the 1st quarter worth about $200,000. Institutional investors own 98.51% of the company’s stock.
Crinetics Pharmaceuticals Stock Up 1.6 %
Shares of CRNX stock opened at $54.98 on Friday. Crinetics Pharmaceuticals has a fifty-two week low of $15.76 and a fifty-two week high of $55.77. The firm’s 50 day moving average price is $47.30 and its two-hundred day moving average price is $43.16. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of -14.54 and a beta of 0.68.
Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.09). The firm had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.20 million. During the same quarter in the previous year, the company posted ($0.85) earnings per share. The company’s revenue for the quarter was down 76.1% on a year-over-year basis. On average, equities analysts forecast that Crinetics Pharmaceuticals will post -3.54 EPS 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.
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