Crinetics Pharmaceuticals (CRNX) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Crinetics Pharmaceuticals (NASDAQ:CRNX) from a sell rating to a hold rating in a 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. “

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. started coverage on shares of Crinetics Pharmaceuticals in a research report on Monday, August 13th. They issued a neutral rating and a $29.00 price objective on the stock. Leerink Swann started coverage on shares of Crinetics Pharmaceuticals in a research report on Monday, August 13th. They issued an outperform rating and a $43.00 price objective on the stock. Finally, Piper Jaffray Companies started coverage on shares of Crinetics Pharmaceuticals in a research report on Monday, August 13th. They issued an overweight rating and a $40.00 price objective on the stock.

Crinetics Pharmaceuticals stock opened at $27.00 on Tuesday. Crinetics Pharmaceuticals has a 52 week low of $19.23 and a 52 week high of $42.00.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, August 30th. The company reported ($2.41) EPS for the quarter, missing the consensus estimate of ($0.29) by ($2.12). The company had revenue of $0.66 million for the quarter, compared to analyst estimates of $0.09 million. As a group, sell-side analysts forecast that Crinetics Pharmaceuticals will post -2.01 EPS for the current year.

An institutional investor recently bought a new position in Crinetics Pharmaceuticals stock. Victory Capital Management Inc. bought a new stake in Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 94,810 shares of the company’s stock, valued at approximately $2,716,000. Victory Capital Management Inc. owned about 0.39% of Crinetics Pharmaceuticals at the end of the most recent quarter. 0.02% of the stock is currently owned by institutional investors.

Crinetics Pharmaceuticals Company Profile

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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