Crinetics Pharmaceuticals (NASDAQ:CRNX) Stock Rating Lowered by Citizens Jmp

Crinetics Pharmaceuticals (NASDAQ:CRNX) was downgraded by research analysts at Citizens Jmp from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

CRNX has been the subject of several other research reports. TD Cowen restated a “hold” rating on shares of Crinetics Pharmaceuticals in a report on Wednesday. Piper Sandler lowered shares of Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday. JonesTrading cut shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and set a $85.00 target price on the stock. in a research report on Tuesday. Cantor Fitzgerald downgraded shares of Crinetics Pharmaceuticals from an “overweight” rating to a “hold” rating in a report on Tuesday. Finally, HC Wainwright lowered shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and upped their price target for the stock from $81.00 to $85.00 in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $78.27.

Crinetics Pharmaceuticals Stock Down 0.0%

Shares of Crinetics Pharmaceuticals stock opened at $83.49 on Tuesday. Crinetics Pharmaceuticals has a fifty-two week low of $25.83 and a fifty-two week high of $83.63. The business’s fifty day moving average is $38.57 and its two-hundred day moving average is $42.03. The firm has a market cap of $8.80 billion, a PE ratio of -16.27 and a beta of 0.23.

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

Insider Activity

In other news, Director Stephanie Okey sold 6,900 shares of Crinetics Pharmaceuticals stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $35.67, for a total value of $246,123.00. Following the transaction, the director directly owned 6,400 shares of the company’s stock, valued at $228,288. The trade was a 51.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Coelho Rogerio Vivaldi sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the director owned 19,225 shares of the company’s stock, valued at $769,000. The trade was a 13.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its position in Crinetics Pharmaceuticals by 107.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock worth $30,000 after purchasing an additional 331 shares during the period. Headlands Technologies LLC purchased a new position in Crinetics Pharmaceuticals in the second quarter valued at about $30,000. Raymond James Financial Inc. acquired a new position in shares of Crinetics Pharmaceuticals during the second quarter worth about $45,000. Parallel Advisors LLC lifted its stake 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 in the last quarter. Finally, Arax Advisory Partners boosted 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 worth $70,000 after buying an additional 850 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Trending Headlines about Crinetics Pharmaceuticals

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

• Positive Sentiment: Vertex’s $85-per-share cash acquisition gives CRNX holders a firm takeout price and validates the company’s rare-disease franchise. Article Title
• Positive Sentiment: The deal highlights the commercial value of PALSONIFY and the upside in Atumelnant, reinforcing Crinetics’ strategic appeal. Article Title
• Positive Sentiment: Several firms have lifted targets or reiterated bullish views near the deal price, suggesting limited downside unless the transaction changes. Article Title
• Neutral Sentiment: TD Cowen issued a “Hold” rating, while other brokers also moved to hold, signaling that the stock may already be close to fair value under the acquisition terms. Article Title
• Neutral Sentiment: An investor-alert law firm announced an investigation into the fairness of the proposed sale process, which adds legal headline risk but does not necessarily change the deal economics. Article Title
• Negative Sentiment: Multiple analyst downgrades to “Hold” and an insider sale are weighing on sentiment around the stock’s post-rally valuation. Article Title

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.