Crinetics Pharmaceuticals (CRNX) – Investment Analysts’ Weekly Ratings Changes

Posted by Amy Steele on Mar 28th, 2024

Crinetics Pharmaceuticals (NASDAQ: CRNX) recently received a number of ratings updates from brokerages and research firms:

3/20/2024 – Crinetics Pharmaceuticals had its price target raised by analysts at Oppenheimer Holdings Inc. from $54.00 to $55.00. They now have an “outperform” rating on the stock.
3/20/2024 – Crinetics Pharmaceuticals had its price target raised by analysts at JMP Securities from $60.00 to $80.00. They now have a “market outperform” rating on the stock.
3/20/2024 – Crinetics Pharmaceuticals had its price target raised by analysts at Jonestrading from $52.00 to $56.00. They now have a “buy” rating on the stock.
3/19/2024 – Crinetics Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $50.00 price target on the stock.
3/13/2024 – Crinetics Pharmaceuticals had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $54.00 price target on the stock, up previously from $48.00.
3/13/2024 – Crinetics Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $50.00 price target on the stock.
3/6/2024 – Crinetics Pharmaceuticals is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $68.00 price target on the stock.
3/4/2024 – Crinetics Pharmaceuticals had its price target raised by analysts at Cantor Fitzgerald from $50.00 to $65.00. They now have an “overweight” rating on the stock.
2/29/2024 – Crinetics Pharmaceuticals had its price target raised by analysts at Oppenheimer Holdings Inc. from $46.00 to $48.00. They now have an “outperform” rating on the stock.
2/29/2024 – Crinetics Pharmaceuticals had its price target raised by analysts at Robert W. Baird from $45.00 to $52.00. They now have an “outperform” rating on the stock.
2/29/2024 – Crinetics Pharmaceuticals had its price target raised by analysts at JMP Securities from $50.00 to $60.00. They now have a “market outperform” rating on the stock.
2/2/2024 – Crinetics Pharmaceuticals had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $50.00 price target on the stock.

Crinetics Pharmaceuticals Trading Up 2.4 %

Shares of CRNX opened at $44.43 on Thursday. The stock has a 50 day moving average of $39.56 and a 200 day moving average of $34.15. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -12.01 and a beta of 0.62. Crinetics Pharmaceuticals, Inc. has a 12 month low of $15.23 and a 12 month high of $47.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 52.93% and a negative net margin of 4,223.27%. The company’s revenue was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.84) earnings per share. As a group, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.34 earnings per share for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $35.00, for a total transaction of $503,125.00. Following the sale, the insider now owns 5,911 shares in the company, valued at $206,885. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Jeff E. Knight sold 32,359 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.31, for a total transaction of $1,433,827.29. Following the transaction, the chief operating officer now directly owns 52,580 shares of the company’s stock, valued at approximately $2,329,819.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dana Pizzuti sold 14,375 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $35.00, for a total value of $503,125.00. Following the completion of the sale, the insider now directly owns 5,911 shares of the company’s stock, valued at approximately $206,885. The disclosure for this sale can be found here. Insiders have sold a total of 144,765 shares of company stock worth $6,127,485 over the last ninety days. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of Crinetics Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in CRNX. Tower Research Capital LLC TRC raised its holdings in shares of Crinetics Pharmaceuticals by 109.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,927 shares of the company’s stock valued at $31,000 after acquiring an additional 1,009 shares in the last quarter. Quarry LP purchased a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter valued at approximately $36,000. China Universal Asset Management Co. Ltd. increased its position in shares of Crinetics Pharmaceuticals by 98.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,403 shares of the company’s stock valued at $42,000 after acquiring an additional 695 shares in the last quarter. Osaic Holdings Inc. lifted its position in Crinetics Pharmaceuticals by 382.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,412 shares of the company’s stock valued at $43,000 after acquiring an additional 1,912 shares in the last quarter. Finally, AJOVista LLC purchased a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter valued at $58,000. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

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.