Crinetics Pharmaceuticals (NASDAQ:CRNX) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Crinetics Pharmaceuticals (NASDAQ:CRNXFree Report) in a research note issued to investors on Friday, Benzinga reports. They currently have a $50.00 price objective on the stock.

CRNX has been the topic of a number of other research reports. HC Wainwright reissued a buy rating and set a $42.00 price target on shares of Crinetics Pharmaceuticals in a research report on Tuesday, December 19th. Morgan Stanley began coverage on Crinetics Pharmaceuticals in a research report on Tuesday, January 16th. They set an overweight rating and a $50.00 price target on the stock. JPMorgan Chase & Co. reissued an overweight rating and set a $35.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, November 20th. Finally, Jefferies Financial Group assumed coverage on Crinetics Pharmaceuticals in a report on Thursday, December 21st. They set a hold rating and a $35.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $44.90.

View Our Latest Stock Report on CRNX

Crinetics Pharmaceuticals Stock Performance

NASDAQ:CRNX opened at $37.08 on Friday. The stock’s 50-day simple moving average is $35.37 and its 200 day simple moving average is $28.14. The company has a market cap of $2.48 billion, a P/E ratio of -10.19 and a beta of 0.58. Crinetics Pharmaceuticals has a 52-week low of $15.23 and a 52-week high of $38.98.

Crinetics Pharmaceuticals (NASDAQ:CRNXGet Free Report) last released its earnings results on Tuesday, November 7th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.12). The company had revenue of $0.35 million during the quarter. Crinetics Pharmaceuticals had a negative net margin of 4,223.27% and a negative return on equity of 57.04%. As a group, equities analysts predict that Crinetics Pharmaceuticals will post -3.66 earnings per share for the current fiscal year.

Insider Transactions at Crinetics Pharmaceuticals

In related news, insider Stephen F. Betz sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $32.87, for a total value of $98,610.00. Following the completion of the sale, the insider now directly owns 82,298 shares in the company, valued at $2,705,135.26. The sale was disclosed in a filing with the SEC, which is available at this link. In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 3,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $32.87, for a total transaction of $98,610.00. Following the completion of the sale, the insider now directly owns 82,298 shares in the company, valued at $2,705,135.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marc Wilson sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $35.47, for a total value of $354,700.00. Following the sale, the chief financial officer now owns 96,055 shares of the company’s stock, valued at $3,407,070.85. The disclosure for this sale can be found here. Insiders sold a total of 48,958 shares of company stock worth $1,715,639 over the last quarter. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRNX. Tower Research Capital LLC TRC increased 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 worth $31,000 after buying an additional 1,009 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings 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 worth $42,000 after buying an additional 695 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 382.4% during the second quarter. Osaic Holdings Inc. now owns 2,412 shares of the company’s stock worth $43,000 after buying an additional 1,912 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Crinetics Pharmaceuticals by 64.8% during the second quarter. Royal Bank of Canada now owns 5,595 shares of the company’s stock worth $100,000 after buying an additional 2,201 shares in the last quarter. Finally, HighMark Wealth Management LLC acquired a new position in shares of Crinetics Pharmaceuticals during the fourth quarter worth $151,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

About Crinetics Pharmaceuticals

(Get Free Report)

Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for endocrine diseases and endocrine-related tumors. The company's lead product candidate is Paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist that has completed phase III clinical trial for the treatment of acromegaly, as well as completed phase II clinical trial to treat carcinoid syndrome and nonfunctional neuroendocrine tumors (NETs).

Recommended Stories

Analyst Recommendations for Crinetics Pharmaceuticals (NASDAQ:CRNX)

Receive News & Ratings for Crinetics Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crinetics Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.