Brokerages Set Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Target Price at $82.50

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $82.50.

Several equities research analysts recently weighed in on CRNX shares. Wall Street Zen raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, January 21st. Morgan Stanley boosted their price target on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Citizens Jmp dropped their price objective on shares of Crinetics Pharmaceuticals from $108.00 to $105.00 and set a “market outperform” rating for the company in a report on Thursday, January 8th. Finally, The Goldman Sachs Group raised shares of Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Monday, January 12th.

Insider Activity at Crinetics Pharmaceuticals

In related news, insider Isabel Kalofonos sold 2,500 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $55.00, for a total value of $137,500.00. Following the sale, the insider owned 834 shares of the company’s stock, valued at $45,870. The trade was a 74.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Meeder Advisory Services Inc. acquired a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at about $216,000. Deutsche Bank AG boosted its holdings in Crinetics Pharmaceuticals by 1.1% in the fourth quarter. Deutsche Bank AG now owns 235,018 shares of the company’s stock valued at $10,940,000 after acquiring an additional 2,653 shares during the last quarter. GW&K Investment Management LLC increased its position in Crinetics Pharmaceuticals by 73.6% during the 4th quarter. GW&K Investment Management LLC now owns 1,476,325 shares of the company’s stock valued at $68,723,000 after purchasing an additional 625,779 shares during the period. Cerity Partners LLC bought a new position in Crinetics Pharmaceuticals during the 4th quarter worth approximately $883,000. Finally, LPL Financial LLC acquired a new position in shares of Crinetics Pharmaceuticals in the 4th quarter worth approximately $286,000. Institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Price Performance

Shares of Crinetics Pharmaceuticals stock opened at $47.61 on Friday. The company’s 50 day moving average price is $49.94 and its two-hundred day moving average price is $41.96. The firm has a market capitalization of $4.86 billion, a P/E ratio of -10.51 and a beta of 0.19. Crinetics Pharmaceuticals has a fifty-two week low of $24.10 and a fifty-two week high of $57.99.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.