Brokerages Set $37.33 Target Price for Crinetics Pharmaceuticals Inc (CRNX)
Shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) have been assigned a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and two have given a strong buy rating to the company.
Brokerages have set a 12 month consensus target price of $37.33 for the company and are expecting that the company will post ($0.34) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Crinetics Pharmaceuticals an industry rank of 101 out of 255 based on the ratings given to related companies.
A number of brokerages recently issued reports on CRNX. Leerink Swann began coverage on Crinetics Pharmaceuticals in a research report on Monday, August 13th. They set an “outperform” rating and a $43.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Crinetics Pharmaceuticals in a report on Monday, August 13th. They issued a “neutral” rating and a $29.00 target price on the stock. Piper Jaffray Companies started coverage on Crinetics Pharmaceuticals in a report on Monday, August 13th. They issued an “overweight” rating and a $40.00 target price on the stock. Finally, Zacks Investment Research lowered Crinetics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, October 15th.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Thursday, August 30th. The company reported ($2.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($2.12). The business had revenue of $0.66 million during the quarter, compared to the consensus estimate of $0.09 million. Sell-side analysts expect that Crinetics Pharmaceuticals will post -2.01 EPS for the current fiscal year.
Crinetics Pharmaceuticals Company Profile
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.
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