Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) has been given a consensus recommendation of “Buy” by the six brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $37.75.
A number of equities research analysts have issued reports on CRNX shares. HC Wainwright reaffirmed a “buy” rating on shares of Pulmatrix in a research report on Tuesday, April 16th. Zacks Investment Research cut GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th.
In other news, insider Ventures Iv L.P. 5Am sold 250,000 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $22.20, for a total value of $5,550,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Several institutional investors and hedge funds have recently bought and sold shares of CRNX. FMR LLC boosted its holdings in Crinetics Pharmaceuticals by 23.0% in the first quarter. FMR LLC now owns 3,614,288 shares of the company’s stock valued at $82,262,000 after acquiring an additional 675,749 shares during the last quarter. RA Capital Management LLC boosted its position in shares of Crinetics Pharmaceuticals by 10.2% during the 4th quarter. RA Capital Management LLC now owns 1,875,209 shares of the company’s stock valued at $56,238,000 after purchasing an additional 174,192 shares in the last quarter. BlackRock Inc. boosted its position in shares of Crinetics Pharmaceuticals by 65.3% during the 4th quarter. BlackRock Inc. now owns 693,172 shares of the company’s stock valued at $20,789,000 after purchasing an additional 273,886 shares in the last quarter. Emory University boosted its position in shares of Crinetics Pharmaceuticals by 12.9% during the 1st quarter. Emory University now owns 97,035 shares of the company’s stock valued at $2,209,000 after purchasing an additional 11,091 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Crinetics Pharmaceuticals by 0.7% during the 4th quarter. Northern Trust Corp now owns 76,727 shares of the company’s stock valued at $2,301,000 after purchasing an additional 498 shares in the last quarter. 73.51% of the stock is owned by institutional investors.
Crinetics Pharmaceuticals stock traded down $0.24 during trading hours on Friday, reaching $23.76. 33,369 shares of the company were exchanged, compared to its average volume of 65,274. The firm has a market capitalization of $579.36 million and a price-to-earnings ratio of -10.61. 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 firm has a 50-day moving average price of $24.60. Crinetics Pharmaceuticals has a 12 month low of $20.13 and a 12 month 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 analysts’ consensus estimates of ($0.41) by $0.04. The firm had revenue of $0.37 million during 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 research analysts forecast that Crinetics Pharmaceuticals will post -1.92 earnings per share for the current fiscal year.
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.
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