Crinetics Pharmaceuticals (NASDAQ:CRNX) Now Covered by Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Crinetics Pharmaceuticals (NASDAQ:CRNX) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $60.00 price target on the stock.

CRNX has been the topic of a number of other reports. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating on the stock. Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a “peer perform” rating on the stock. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday, January 22nd. JMP Securities reiterated a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Finally, HC Wainwright restated a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Crinetics Pharmaceuticals Stock Down 2.4 %

NASDAQ:CRNX opened at $35.07 on Tuesday. Crinetics Pharmaceuticals has a 52 week low of $31.84 and a 52 week high of $62.53. The company has a fifty day simple moving average of $36.15 and a two-hundred day simple moving average of $47.86. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -9.40 and a beta of 0.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, analysts expect that Crinetics Pharmaceuticals will post -3.73 EPS for the current year.

Insider Transactions at Crinetics Pharmaceuticals

In other news, COO Jeff E. Knight sold 7,162 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $244,940.40. Following the completion of the sale, the chief operating officer now directly owns 87,491 shares of the company’s stock, valued at approximately $2,992,192.20. This represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Scott Struthers sold 17,338 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $592,959.60. Following the sale, the chief executive officer now owns 329,147 shares of the company’s stock, valued at $11,256,827.40. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,015 shares of company stock worth $1,119,263. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of Crinetics Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank increased its holdings in shares of Crinetics Pharmaceuticals by 0.5% in the third quarter. Swiss National Bank now owns 130,900 shares of the company’s stock valued at $6,689,000 after purchasing an additional 600 shares during the period. Commerce Bank purchased a new position in Crinetics Pharmaceuticals during the 3rd quarter worth $212,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Crinetics Pharmaceuticals by 2.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company’s stock worth $1,054,000 after acquiring an additional 505 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Crinetics Pharmaceuticals by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock valued at $143,000 after acquiring an additional 1,008 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at about $1,142,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.