Crinetics Pharmaceuticals (NASDAQ:CRNX) Given “Market Outperform” Rating at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Crinetics Pharmaceuticals (NASDAQ:CRNX) in a report published on Friday, Benzinga reports. JMP Securities currently has a $80.00 price target on the stock.

A number of other equities research analysts also recently weighed in on CRNX. HC Wainwright raised their price target on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a buy rating in a research note 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 report on Tuesday, July 9th. Cantor Fitzgerald restated an overweight rating and issued a $90.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Oppenheimer reaffirmed an outperform rating and set a $73.00 target price (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. Finally, Piper Sandler reissued an overweight rating and issued a $97.00 price target on shares of Crinetics Pharmaceuticals in a research note on Tuesday, July 2nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Crinetics Pharmaceuticals presently has a consensus rating of Moderate Buy and a consensus target price of $68.55.

Crinetics Pharmaceuticals Trading Up 0.7 %

NASDAQ CRNX opened at $51.10 on Friday. Crinetics Pharmaceuticals has a 1 year low of $25.35 and a 1 year high of $55.78. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of -13.52 and a beta of 0.63. The firm’s 50 day simple moving average is $52.03 and its 200 day simple moving average is $48.45.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The firm had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.47 million. The business’s quarterly revenue was down 59.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.94) earnings per share. On average, equities research analysts forecast that Crinetics Pharmaceuticals will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $44.87, for a total value of $645,006.25. Following the completion of the sale, the insider now owns 28,507 shares in the company, valued at approximately $1,279,109.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Crinetics Pharmaceuticals news, insider James Hassard sold 15,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $44.08, for a total transaction of $661,200.00. Following the completion of the sale, the insider now owns 29,259 shares in the company, valued at approximately $1,289,736.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dana Pizzuti sold 14,375 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $44.87, for a total transaction of $645,006.25. Following the completion of the transaction, the insider now directly owns 28,507 shares in the company, valued at $1,279,109.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,466 shares of company stock valued at $6,989,506. 6.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its holdings in Crinetics Pharmaceuticals by 3.3% during the 2nd quarter. AQR Capital Management LLC now owns 7,126 shares of the company’s stock worth $319,000 after purchasing an additional 227 shares in the last quarter. Amalgamated Bank boosted its holdings in Crinetics Pharmaceuticals by 20.8% during the 2nd quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock worth $121,000 after acquiring an additional 464 shares during the last quarter. Comerica Bank bought a new stake in shares of Crinetics Pharmaceuticals in the 1st quarter worth $33,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Crinetics Pharmaceuticals by 2.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 38,087 shares of the company’s stock valued at $1,783,000 after purchasing an additional 927 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Crinetics Pharmaceuticals during the second quarter valued at about $42,000. 98.51% of the stock is owned by institutional investors.

Crinetics Pharmaceuticals Company Profile

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.