Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Receives $72.64 Consensus Price Target from Brokerages

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) have received a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $72.64.

Several equities analysts recently commented on the company. HC Wainwright restated a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. JMP Securities reiterated a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, January 22nd. Citigroup raised their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a “peer perform” rating for the company.

Insider Activity

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.07, for a total value of $195,350.00. Following the transaction, the insider now owns 31,748 shares of the company’s stock, valued at approximately $1,240,394.36. This represents a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter valued at $41,000. State of Wyoming acquired a new position in Crinetics Pharmaceuticals in the fourth quarter valued at about $50,000. Headlands Technologies LLC bought a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter worth about $52,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth about $66,000. Finally, Values First Advisors Inc. bought a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter valued at about $84,000. 98.51% of the stock is owned by institutional investors.

Crinetics Pharmaceuticals Stock Up 0.8 %

NASDAQ:CRNX opened at $32.55 on Friday. The firm has a 50-day moving average price of $41.92 and a 200 day moving average price of $50.28. The firm has a market capitalization of $3.02 billion, a PE ratio of -8.73 and a beta of 0.56. Crinetics Pharmaceuticals has a 12-month low of $31.84 and a 12-month high of $62.53.

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.