Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Get Rating) has received a consensus recommendation of “Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have covered the stock in the last year is $44.20.
A number of equities research analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of Crinetics Pharmaceuticals in a report on Monday, April 24th. They issued an “overweight” rating and a $56.00 price objective for the company. Lifesci Capital reiterated an “outperform” rating on shares of Crinetics Pharmaceuticals in a report on Monday, March 27th. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Crinetics Pharmaceuticals in a report on Wednesday, March 1st. Robert W. Baird started coverage on shares of Crinetics Pharmaceuticals in a report on Wednesday, March 29th. They issued an “outperform” rating and a $48.00 price objective for the company. Finally, JMP Securities upped their price target on shares of Crinetics Pharmaceuticals from $41.00 to $43.00 in a report on Friday, May 5th.
Crinetics Pharmaceuticals Stock Down 1.1 %
CRNX stock opened at $21.97 on Friday. Crinetics Pharmaceuticals has a 52-week low of $15.23 and a 52-week high of $24.58. The stock’s fifty day simple moving average is $18.75 and its 200-day simple moving average is $18.49. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -6.70 and a beta of 0.94.
Insiders Place Their Bets
In related news, insider Dana Pizzuti sold 8,212 shares of the business’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $16.15, for a total transaction of $132,623.80. Following the completion of the transaction, the insider now owns 4,500 shares of the company’s stock, valued at $72,675. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 5.90% of the company’s stock.
Institutional Trading of Crinetics Pharmaceuticals
A number of hedge funds and other institutional investors have recently modified their holdings of CRNX. Great West Life Assurance Co. Can bought a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth approximately $29,000. Tower Research Capital LLC TRC raised its holdings in shares of Crinetics Pharmaceuticals by 109.9% in 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. Psagot Value Holdings Ltd. Israel bought a new position in Crinetics Pharmaceuticals in the fourth quarter worth about $46,000. Bourgeon Capital Management LLC purchased a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth about $48,000. Finally, Group One Trading L.P. grew its stake in shares of Crinetics Pharmaceuticals by 31.6% during the first quarter. Group One Trading L.P. now owns 7,318 shares of the company’s stock worth $161,000 after acquiring an additional 1,759 shares during the last quarter. 95.64% of the stock is owned by hedge funds and other institutional investors.
Crinetics Pharmaceuticals Company Profile
Crinetics Pharmaceuticals, Inc operates as a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. Its product candidate, CRN00808, is an oral nonpeptide somatostatin agonist for the treatment of acromegaly.
- Get a free copy of the StockNews.com research report on Crinetics Pharmaceuticals (CRNX)
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