Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Get Free Report) insider Stephen F. Betz sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $53.19, for a total value of $159,570.00. Following the sale, the insider now directly owns 69,611 shares in the company, valued at approximately $3,702,609.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Crinetics Pharmaceuticals Trading Down 0.1 %
Shares of CRNX traded down $0.07 during mid-day trading on Wednesday, hitting $54.40. 441,228 shares of the company’s stock were exchanged, compared to its average volume of 803,660. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $15.76 and a fifty-two week high of $55.78. The business’s 50 day moving average is $50.11 and its two-hundred day moving average is $46.40. The firm has a market capitalization of $4.29 billion, a P/E ratio of -14.41 and a beta of 0.68.
Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The business had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.47 million. During the same period last year, the firm earned ($0.94) earnings per share. The company’s revenue for the quarter was down 59.6% compared to the same quarter last year. On average, equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.54 earnings per share for the current year.
Hedge Funds Weigh In On Crinetics Pharmaceuticals
Analyst Upgrades and Downgrades
CRNX has been the topic of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price target on shares of Crinetics Pharmaceuticals in a research note on Tuesday, June 4th. HC Wainwright increased their target price on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on shares of Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Morgan Stanley upped 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. Finally, Oppenheimer reiterated an “outperform” rating and set a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.75.
View Our Latest Stock Analysis on CRNX
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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