Analysts Set Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) PT at $69.64

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) have earned a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $70.18.

A number of equities analysts have weighed in on CRNX shares. HC Wainwright upped their target price on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup raised their target price on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $73.00 target price (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total transaction of $785,306.25. Following the sale, the insider now directly owns 28,507 shares of the company’s stock, valued at approximately $1,557,337.41. The trade was a 33.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen F. Betz sold 3,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $53.19, for a total value of $159,570.00. Following the sale, the insider now owns 69,611 shares in the company, valued at $3,702,609.09. This represents a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,410 shares of company stock valued at $2,275,929 over the last quarter. 6.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of Crinetics Pharmaceuticals by 10.1% during the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock valued at $94,458,000 after acquiring an additional 169,746 shares in the last quarter. Barclays PLC grew its position in Crinetics Pharmaceuticals by 75.5% during the 3rd quarter. Barclays PLC now owns 207,712 shares of the company’s stock valued at $10,614,000 after purchasing an additional 89,358 shares during the last quarter. Castleark Management LLC purchased a new stake in Crinetics Pharmaceuticals during the 3rd quarter valued at about $3,748,000. State Street Corp increased its stake in Crinetics Pharmaceuticals by 0.9% during the 3rd quarter. State Street Corp now owns 2,838,484 shares of the company’s stock valued at $145,047,000 after purchasing an additional 25,561 shares in the last quarter. Finally, Cinctive Capital Management LP purchased a new position in Crinetics Pharmaceuticals in the third quarter worth about $2,527,000. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Stock Down 8.3 %

Shares of CRNX stock opened at $54.72 on Thursday. The firm has a market cap of $5.07 billion, a P/E ratio of -14.67 and a beta of 0.62. The company has a 50 day moving average of $54.97 and a 200-day moving average of $51.28. Crinetics Pharmaceuticals has a 12-month low of $27.55 and a 12-month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same quarter last year, the company earned ($1.01) EPS. As a group, equities analysts expect that Crinetics Pharmaceuticals will post -3.72 EPS for the current 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.