Equities research analysts at Roth Capital began coverage on shares of Crinetics Pharmaceuticals (NASDAQ:CRNX) in a research note issued on Monday, December 23rd, MarketBeat Ratings reports. The firm set a “buy” rating and a $37.00 price target on the stock. Roth Capital’s price target indicates a potential upside of 45.78% from the company’s previous close.
A number of other equities analysts have also commented on CRNX. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Crinetics Pharmaceuticals in a report on Thursday, November 21st. Zacks Investment Research upgraded Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, ValuEngine upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Crinetics Pharmaceuticals currently has an average rating of “Hold” and an average target price of $37.33.
Shares of NASDAQ:CRNX traded up $0.13 during mid-day trading on Monday, hitting $25.38. 125,715 shares of the company traded hands, compared to its average volume of 91,001. The company has a debt-to-equity ratio of 0.04, a quick ratio of 17.18 and a current ratio of 17.18. Crinetics Pharmaceuticals has a 52-week low of $14.33 and a 52-week high of $28.81. The firm’s 50 day simple moving average is $22.59 and its 200 day simple moving average is $19.83. The firm has a market cap of $617.90 million, a P/E ratio of -11.38 and a beta of 1.10.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03). The firm had revenue of $0.51 million for the quarter, compared to the consensus estimate of $0.33 million. Equities research analysts expect that Crinetics Pharmaceuticals will post -2.16 EPS for the current fiscal year.
In other news, Director Matthew K. Fust sold 3,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $22.50, for a total value of $78,750.00. Following the sale, the director now owns 16,036 shares in the company, valued at approximately $360,810. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of CRNX. Orbimed Advisors LLC increased its stake in Crinetics Pharmaceuticals by 6.5% during the second quarter. Orbimed Advisors LLC now owns 2,039,282 shares of the company’s stock valued at $50,982,000 after purchasing an additional 125,000 shares during the last quarter. Eventide Asset Management LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 17.8% in the 3rd quarter. Eventide Asset Management LLC now owns 947,000 shares of the company’s stock valued at $14,243,000 after buying an additional 143,161 shares during the period. BlackRock Inc. grew its position in shares of Crinetics Pharmaceuticals by 19.9% during the 2nd quarter. BlackRock Inc. now owns 932,424 shares of the company’s stock valued at $23,312,000 after buying an additional 154,450 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Crinetics Pharmaceuticals by 11.6% during the 2nd quarter. Vanguard Group Inc. now owns 504,539 shares of the company’s stock valued at $12,614,000 after buying an additional 52,327 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Crinetics Pharmaceuticals by 2.3% during the 2nd quarter. Janus Henderson Group PLC now owns 499,542 shares of the company’s stock valued at $12,489,000 after buying an additional 11,175 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.
About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is CRN00808, an oral selective nonpeptide somatostatin receptor type 2 biased agonist, which is in Phase I clinical trials used for the treatment of acromegaly.