Crinetics Pharmaceuticals (CRNX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Crinetics Pharmaceuticals (NASDAQ:CRNX) from a sell rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “Crinetics Pharmaceuticals Inc is a clinical stage pharmaceutical company. It focuses on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company’s product pipeline consists of CRN00808 for the treatment of Acromegaly, CRN02481 for the treatment of Hyperinsulinemias and CRN01941 for the treatment of Neuroendocrine Tumors which are in clinical stage. Crinetics Pharmaceuticals Inc is based in San Diego, United States. “

CRNX has been the topic of a number of other reports. Leerink Swann assumed coverage on shares of Crinetics Pharmaceuticals in a report on Monday, August 13th. They set an outperform rating and a $43.00 price target on the stock. Piper Jaffray Companies assumed coverage on shares of Crinetics Pharmaceuticals in a report on Monday, August 13th. They set an overweight rating and a $40.00 price target on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Crinetics Pharmaceuticals in a report on Monday, August 13th. They set a neutral rating and a $29.00 price target on the stock.

NASDAQ CRNX traded down $1.32 during mid-day trading on Tuesday, reaching $26.84. 41,610 shares of the stock were exchanged, compared to its average volume of 57,723. Crinetics Pharmaceuticals has a 1 year low of $19.23 and a 1 year high of $42.00.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings results on Thursday, August 30th. The company reported ($2.41) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($2.12). The company had revenue of $0.66 million for the quarter, compared to analysts’ expectations of $0.09 million. On average, research analysts anticipate that Crinetics Pharmaceuticals will post -2.01 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American International Group Inc. purchased a new position in Crinetics Pharmaceuticals during the third quarter valued at $132,000. Bank of New York Mellon Corp purchased a new position in Crinetics Pharmaceuticals during the third quarter valued at $453,000. Dean Capital Investments Management LLC purchased a new position in Crinetics Pharmaceuticals during the third quarter valued at $701,000. Victory Capital Management Inc. purchased a new position in Crinetics Pharmaceuticals during the third quarter valued at $2,716,000. Finally, Artal Group S.A. purchased a new position in Crinetics Pharmaceuticals during the third quarter valued at $5,730,000. 0.02% of the stock is currently owned by institutional investors and hedge funds.

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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