Crinetics Pharmaceuticals (NASDAQ:CRNX) Rating Increased to Sell at Wall Street Zen

Crinetics Pharmaceuticals (NASDAQ:CRNX) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Sunday.

CRNX has been the subject of a number of other reports. JonesTrading cut Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and set a $85.00 target price for the company. in a research report on Tuesday, July 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 7th. Piper Sandler downgraded Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Robert W. Baird increased their price objective on Crinetics Pharmaceuticals from $62.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Finally, TD Cowen lowered shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.27.

Crinetics Pharmaceuticals Stock Down 0.0%

CRNX traded down $0.04 on Friday, reaching $83.58. The company had a trading volume of 7,356,237 shares, compared to its average volume of 6,742,002. Crinetics Pharmaceuticals has a 1 year low of $25.83 and a 1 year high of $83.76. The stock has a market capitalization of $8.81 billion, a PE ratio of -16.29 and a beta of 0.23. The stock has a 50-day moving average price of $40.38 and a 200-day moving average price of $42.57.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 2,747.18% and a negative return on equity of 43.96%. The company had revenue of $10.73 million during the quarter, compared to analyst estimates of $8.51 million. During the same quarter in the prior year, the company earned ($1.04) EPS. The business’s revenue was up 2873.4% on a year-over-year basis. As a group, analysts expect that Crinetics Pharmaceuticals will post -4.86 earnings per share for the current fiscal year.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, Director Stephanie Okey sold 6,900 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $35.67, for a total transaction of $246,123.00. Following the completion of the sale, the director directly owned 6,400 shares of the company’s stock, valued at approximately $228,288. This trade represents a 51.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Coelho Rogerio Vivaldi sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the director directly owned 19,225 shares in the company, valued at approximately $769,000. The trade was a 13.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Crinetics Pharmaceuticals by 11.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,311 shares of the company’s stock worth $1,995,000 after acquiring an additional 6,148 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Crinetics Pharmaceuticals by 6.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,581 shares of the company’s stock valued at $11,658,000 after purchasing an additional 22,305 shares during the period. Strs Ohio purchased a new stake in Crinetics Pharmaceuticals in the 1st quarter valued at approximately $124,000. Invesco Ltd. boosted its holdings in Crinetics Pharmaceuticals by 11.7% in the 2nd quarter. Invesco Ltd. now owns 78,140 shares of the company’s stock valued at $2,247,000 after purchasing an additional 8,181 shares in the last quarter. Finally, Sei Investments Co. increased its position in Crinetics Pharmaceuticals by 20.6% during the 2nd quarter. Sei Investments Co. now owns 60,180 shares of the company’s stock worth $1,731,000 after purchasing an additional 10,269 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Key Stories Impacting Crinetics Pharmaceuticals

Here are the key news stories impacting Crinetics Pharmaceuticals this week:

• Positive Sentiment: Crinetics shares have jumped sharply this week, with the acquisition by Vertex Pharmaceuticals likely the main driver of the rally. Why Crinetics Stock Soared 99% This Week
• Positive Sentiment: Options activity spiked as investors bought far more call contracts than usual, signaling bullish trading interest in CRNX.
• Neutral Sentiment: Crinetics was mentioned in an article about expanding its rare-disease focus, which reinforces the company’s long-term strategic theme but does not appear to be an immediate stock-moving catalyst. Why Is Crinetics (NASDAQ:CRNX) Expanding Rare Disease Focus?
• Neutral Sentiment: Short interest data showed 0 shares reported as short, suggesting no meaningful bearish positioning from that metric, though the data appears unusual and may not be informative.
• Negative Sentiment: Evercore ISI downgraded Crinetics from strong-buy to hold, implying less upside from current valuation. Evercore downgrade coverage
• Negative Sentiment: Citizens JMP also cut CRNX to hold, adding to analyst caution after the stock’s rapid advance. Citizens JMP downgrade coverage
• Negative Sentiment: TD Cowen initiated or reiterated a hold stance, and a shareholder law firm announced an investigation tied to the Vertex sale, both of which could pressure sentiment. Crinetics Pharmaceuticals (NASDAQ:CRNX) Receives “Hold” Rating from TD Cowen Shareholder Alert Investigation

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.