Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Given Consensus Rating of “Moderate Buy” by Brokerages

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) has received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $72.64.

CRNX has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. JMP Securities reiterated a “market outperform” rating and set a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Wolfe Research initiated coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a “peer perform” rating on the stock. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating on the stock. Finally, Citigroup increased their price objective on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th.

Crinetics Pharmaceuticals Stock Performance

Shares of Crinetics Pharmaceuticals stock opened at $37.48 on Friday. The firm has a market cap of $3.48 billion, a PE ratio of -10.05 and a beta of 0.56. The firm’s 50-day simple moving average is $43.17 and its 200-day simple moving average is $50.61. Crinetics Pharmaceuticals has a 1 year low of $34.07 and a 1 year high of $62.53.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total value of $195,350.00. Following the sale, the insider now owns 31,748 shares in the company, valued at approximately $1,240,394.36. This trade represents a 13.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE boosted its holdings in shares of Crinetics Pharmaceuticals by 3.4% in the third quarter. US Bancorp DE now owns 11,488 shares of the company’s stock valued at $587,000 after acquiring an additional 373 shares in the last quarter. KBC Group NV boosted its holdings in shares of Crinetics Pharmaceuticals by 22.8% in the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after acquiring an additional 407 shares in the last quarter. Martingale Asset Management L P boosted its holdings in shares of Crinetics Pharmaceuticals by 1.9% in the fourth quarter. Martingale Asset Management L P now owns 22,484 shares of the company’s stock valued at $1,150,000 after acquiring an additional 410 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Crinetics Pharmaceuticals by 8.8% in the fourth quarter. Mackenzie Financial Corp now owns 5,422 shares of the company’s stock valued at $277,000 after acquiring an additional 440 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Crinetics Pharmaceuticals by 2.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company’s stock valued at $1,054,000 after acquiring an additional 505 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.

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.