Crinetics Pharmaceuticals (NASDAQ:CRNX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Crinetics Pharmaceuticals (NASDAQ:CRNX) from a sell rating to a hold rating in a research note published on Saturday morning.

CRNX has been the subject of a number of other research reports. The Goldman Sachs Group raised Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Monday, January 12th. Lifesci Capital raised shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a report on Friday, February 13th. Morgan Stanley boosted their price target on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Citizens Jmp reduced their price target on Crinetics Pharmaceuticals from $108.00 to $105.00 and set a “market outperform” rating on the stock in a report on Thursday, January 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.78.

Crinetics Pharmaceuticals Stock Down 1.0%

Shares of CRNX opened at $40.68 on Friday. Crinetics Pharmaceuticals has a 52-week low of $24.10 and a 52-week high of $57.99. The business has a fifty day moving average of $48.66 and a 200 day moving average of $43.38. The company has a market cap of $4.26 billion, a PE ratio of -8.23 and a beta of 0.23.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.29) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative net margin of 6,046.22% and a negative return on equity of 41.46%. The company had revenue of $3.89 million for the quarter, compared to the consensus estimate of $4.32 million. During the same quarter last year, the firm posted ($0.88) EPS. The firm’s revenue was up NaN% compared to the same quarter last year. As a group, research analysts anticipate that Crinetics Pharmaceuticals will post -3.73 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Isabel Kalofonos sold 2,500 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $55.00, for a total value of $137,500.00. Following the completion of the sale, the insider owned 834 shares in the company, valued at approximately $45,870. This trade represents a 74.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CRNX. Wellington Management Group LLP boosted its position in Crinetics Pharmaceuticals by 44.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,381,991 shares of the company’s stock worth $349,110,000 after acquiring an additional 2,574,683 shares during the period. Farallon Capital Management LLC raised its position in Crinetics Pharmaceuticals by 20.2% during the fourth quarter. Farallon Capital Management LLC now owns 6,933,098 shares of the company’s stock valued at $322,736,000 after acquiring an additional 1,163,000 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Crinetics Pharmaceuticals by 15.1% in the fourth quarter. Janus Henderson Group PLC now owns 4,440,691 shares of the company’s stock valued at $206,604,000 after acquiring an additional 581,900 shares during the last quarter. Paradigm Biocapital Advisors LP raised its holdings in shares of Crinetics Pharmaceuticals by 8.8% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 2,550,774 shares of the company’s stock valued at $106,240,000 after purchasing an additional 207,221 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Crinetics Pharmaceuticals by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,213,325 shares of the company’s stock valued at $63,662,000 after purchasing an additional 22,393 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.