Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) had its target price lowered by stock analysts at Robert W. Baird from $48.00 to $43.00 in a research report issued on Wednesday, FlyOnTheWall reports. Robert W. Baird’s target price suggests a potential upside of 148.55% from the company’s previous close.
CRNX has been the subject of several other research reports. JMP Securities dropped their target price on shares of Crinetics Pharmaceuticals from $43.00 to $42.00 in a research report on Wednesday. Piper Sandler assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Monday, April 24th. They set an “overweight” rating and a $56.00 target price for the company. Finally, HC Wainwright dropped their target price on shares of Crinetics Pharmaceuticals from $35.00 to $33.00 in a research report on Wednesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $43.50.
Check Out Our Latest Report on CRNX
Crinetics Pharmaceuticals Price Performance
Insider Buying and Selling at Crinetics Pharmaceuticals
In other news, CEO Richard Scott Struthers sold 50,000 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $20.81, for a total value of $1,040,500.00. Following the sale, the chief executive officer now directly owns 680,805 shares in the company, valued at $14,167,552.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Coelho Rogerio Vivaldi bought 5,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were acquired at an average price of $22.06 per share, with a total value of $110,300.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $110,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Scott Struthers sold 50,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $20.81, for a total value of $1,040,500.00. Following the completion of the sale, the chief executive officer now directly owns 680,805 shares in the company, valued at approximately $14,167,552.05. The disclosure for this sale can be found here. Insiders have sold 119,463 shares of company stock valued at $2,437,201 in the last 90 days. 7.00% of the stock is currently owned by company insiders.
Institutional Trading of Crinetics Pharmaceuticals
A number of hedge funds and other institutional investors have recently modified their holdings of CRNX. Tower Research Capital LLC TRC increased its position in shares of Crinetics Pharmaceuticals by 109.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,927 shares of the company’s stock valued at $31,000 after acquiring an additional 1,009 shares during the last quarter. Psagot Value Holdings Ltd. Israel acquired a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at about $46,000. Bourgeon Capital Management LLC increased its position in shares of Crinetics Pharmaceuticals by 56.6% in the first quarter. Bourgeon Capital Management LLC now owns 4,150 shares of the company’s stock valued at $67,000 after acquiring an additional 1,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Crinetics Pharmaceuticals by 8.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,868 shares of the company’s stock valued at $126,000 after acquiring an additional 627 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Crinetics Pharmaceuticals by 70.4% in the second quarter. Cubist Systematic Strategies LLC now owns 8,478 shares of the company’s stock valued at $158,000 after acquiring an additional 3,503 shares during the last quarter.
Crinetics Pharmaceuticals Company Profile
Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for endocrine diseases and endocrine-related tumors. The company's lead product candidate is Paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist that has completed phase III clinical trial for the treatment of acromegaly, as well as completed phase II clinical trial to treat carcinoid syndrome and nonfunctional neuroendocrine tumors (NETs).
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