Shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) have been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.75.

Several research analysts have issued reports on CRNX shares. Zacks Investment Research raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. HC Wainwright reissued a “buy” rating on shares of Crinetics Pharmaceuticals in a research report on Tuesday, April 16th.

NASDAQ:CRNX traded up $0.55 on Thursday, hitting $19.40. The stock had a trading volume of 35,663 shares, compared to its average volume of 66,041. The stock has a market cap of $468.28 million and a PE ratio of -8.70. The company has a current ratio of 18.04, a quick ratio of 18.04 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $22.68. Crinetics Pharmaceuticals has a 52-week low of $17.32 and a 52-week high of $42.00.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Monday, May 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.04. The business had revenue of $0.37 million for the quarter, compared to analysts’ expectations of $0.25 million. Crinetics Pharmaceuticals had a negative return on equity of 26.96% and a negative net margin of 1,303.31%. Equities analysts forecast that Crinetics Pharmaceuticals will post -1.92 EPS for the current fiscal year.

In other news, insider Ventures Iv L.P. 5Am sold 250,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $22.20, for a total transaction of $5,550,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.40% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of CRNX. BNP Paribas Arbitrage SA bought a new stake in Crinetics Pharmaceuticals during the 1st quarter valued at approximately $42,000. Marshall Wace North America L.P. bought a new stake in Crinetics Pharmaceuticals during the 1st quarter valued at approximately $43,000. JPMorgan Chase & Co. raised its stake in Crinetics Pharmaceuticals by 45.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,033 shares of the company’s stock valued at $75,000 after purchasing an additional 946 shares during the period. Bank of America Corp DE raised its stake in Crinetics Pharmaceuticals by 377.2% during the 4th quarter. Bank of America Corp DE now owns 5,932 shares of the company’s stock valued at $179,000 after purchasing an additional 4,689 shares during the period. Finally, TD Asset Management Inc. bought a new stake in Crinetics Pharmaceuticals during the 2nd quarter valued at approximately $210,000. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Crinetics Pharmaceuticals (NASDAQ:CRNX)

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