Crinetics Pharmaceuticals (NASDAQ:CRNX) Upgraded by Wall Street Zen to Sell Rating

Crinetics Pharmaceuticals (NASDAQ:CRNX) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Sunday.

A number of other equities research analysts also recently issued reports on the stock. Evercore downgraded shares of Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. JonesTrading downgraded Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and set a $85.00 price objective for the company. in a research note on Tuesday, July 7th. Cantor Fitzgerald cut Crinetics Pharmaceuticals from an “overweight” rating to a “hold” rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Monday, April 20th. Finally, Citizens Jmp lowered Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Crinetics Pharmaceuticals has a consensus rating of “Hold” and an average price target of $78.27.

Crinetics Pharmaceuticals Trading Down 0.0%

Shares of NASDAQ:CRNX traded down $0.04 on Friday, reaching $83.58. 7,356,237 shares of the company were exchanged, compared to its average volume of 6,742,002. Crinetics Pharmaceuticals has a 1-year low of $25.83 and a 1-year high of $83.76. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of -16.29 and a beta of 0.23. The company has a 50-day moving average of $40.38 and a 200-day moving average of $42.57.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.01). The company had revenue of $10.73 million during the quarter, compared to analyst estimates of $8.51 million. Crinetics Pharmaceuticals had a negative net margin of 2,747.18% and a negative return on equity of 43.96%. The firm’s revenue for the quarter was up 2873.4% on a year-over-year basis. During the same quarter last year, the business earned ($1.04) EPS. As a group, analysts forecast that Crinetics Pharmaceuticals will post -4.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Stephanie Okey sold 6,900 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $35.67, for a total value of $246,123.00. Following the sale, the director directly owned 6,400 shares in the company, valued at $228,288. This represents a 51.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Coelho Rogerio Vivaldi sold 3,000 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the director directly owned 19,225 shares in the company, valued at approximately $769,000. The trade was a 13.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.80% of the company’s stock.

Institutional Trading of Crinetics Pharmaceuticals

A number of hedge funds have recently bought and sold shares of CRNX. Smartleaf Asset Management LLC raised its holdings in Crinetics Pharmaceuticals by 107.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after acquiring an additional 331 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the second quarter worth $30,000. Parallel Advisors LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 34.6% during the fourth quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $57,000 after purchasing an additional 315 shares during the last quarter. Arax Advisory Partners grew its position in shares of Crinetics Pharmaceuticals by 131.2% in the fourth quarter. Arax Advisory Partners now owns 1,498 shares of the company’s stock valued at $70,000 after purchasing an additional 850 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Crinetics Pharmaceuticals in the second quarter valued at $45,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Key Stories Impacting Crinetics Pharmaceuticals

Here are the key news stories impacting Crinetics Pharmaceuticals this week:

• Positive Sentiment: Crinetics shares have jumped sharply this week, with the acquisition by Vertex Pharmaceuticals likely the main driver of the rally. Why Crinetics Stock Soared 99% This Week
• Positive Sentiment: Options activity spiked as investors bought far more call contracts than usual, signaling bullish trading interest in CRNX.
• Neutral Sentiment: Crinetics was mentioned in an article about expanding its rare-disease focus, which reinforces the company’s long-term strategic theme but does not appear to be an immediate stock-moving catalyst. Why Is Crinetics (NASDAQ:CRNX) Expanding Rare Disease Focus?
• Neutral Sentiment: Short interest data showed 0 shares reported as short, suggesting no meaningful bearish positioning from that metric, though the data appears unusual and may not be informative.
• Negative Sentiment: Evercore ISI downgraded Crinetics from strong-buy to hold, implying less upside from current valuation. Evercore downgrade coverage
• Negative Sentiment: Citizens JMP also cut CRNX to hold, adding to analyst caution after the stock’s rapid advance. Citizens JMP downgrade coverage
• Negative Sentiment: TD Cowen initiated or reiterated a hold stance, and a shareholder law firm announced an investigation tied to the Vertex sale, both of which could pressure sentiment. Crinetics Pharmaceuticals (NASDAQ:CRNX) Receives “Hold” Rating from TD Cowen Shareholder Alert Investigation

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.