Key Points
- CEO Richard Scott Struthers sold 21,981 shares on March 16 at an average price of $37.37 for total proceeds of $821,429.97, reducing his stake by 5.15% to 404,778 shares valued at roughly $15.13 million (SEC filing).
- Crinetics reported Q4 EPS of ($1.29), beating estimates by $0.08 but remaining deeply unprofitable with a very negative net margin and analysts forecasting -3.73 EPS for the year, while the stock was down about 4.9% and opened at $36.05.
- Analyst sentiment is broadly positive with an average "Moderate Buy" rating and a mean target price of $74.78, although views vary from a Weiss Ratings "sell (D-)" to upgrades from Goldman Sachs and Morgan Stanley (targets around $67–$80).
Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) COO Jeff Knight sold 9,911 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $37.37, for a total value of $370,374.07. Following the transaction, the chief operating officer directly owned 112,018 shares of the company's stock, valued at $4,186,112.66. The trade was a 8.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Crinetics Pharmaceuticals Price Performance
NASDAQ CRNX opened at $36.05 on Thursday. The stock's 50 day simple moving average is $46.23 and its 200-day simple moving average is $43.93. The company has a market cap of $3.77 billion, a PE ratio of -7.30 and a beta of 0.23. Crinetics Pharmaceuticals, Inc. has a 1-year low of $24.10 and a 1-year high of $57.99.
Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.29) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative return on equity of 41.46% and a negative net margin of 6,046.22%.The company's quarterly revenue was up NaN% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.88) earnings per share. On average, equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of Crinetics Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $67.00 price target on the stock in a research note on Monday, January 12th. Lifesci Capital raised shares of Crinetics Pharmaceuticals to a "strong-buy" rating in a research note on Friday, February 13th. Wall Street Zen raised shares of Crinetics Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Crinetics Pharmaceuticals in a report on Wednesday, January 21st. Finally, Morgan Stanley increased their price target on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the company an "overweight" rating in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $74.78.
Check Out Our Latest Stock Analysis on CRNX
Hedge Funds Weigh In On Crinetics Pharmaceuticals
A number of hedge funds have recently modified their holdings of CRNX. Smartleaf Asset Management LLC boosted its stake in Crinetics Pharmaceuticals by 107.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 639 shares of the company's stock worth $30,000 after buying an additional 331 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the second quarter valued at about $30,000. Farther Finance Advisors LLC raised its stake in shares of Crinetics Pharmaceuticals by 523.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 842 shares of the company's stock valued at $35,000 after acquiring an additional 707 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter worth approximately $45,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Crinetics Pharmaceuticals by 34.6% in the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company's stock worth $57,000 after acquiring an additional 315 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.
About Crinetics Pharmaceuticals
(
Get Free Report)
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.
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