Crinetics Pharmaceuticals (CRNX) Receives a Buy from JonesTrading

JonesTrading analyst Soumit Roy reiterated a Buy rating on Crinetics Pharmaceuticals (CRNXResearch Report) today and set a price target of $45.00. The company’s shares closed last Tuesday at $24.00, close to its 52-week high of $25.50.

According to TipRanks.com, Roy is a 5-star analyst with an average return of 34.8% and a 46.4% success rate. Roy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Monopar Therapeutics Inc, and Adaptimmune Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Crinetics Pharmaceuticals with a $34.75 average price target.

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The company has a one-year high of $25.50 and a one-year low of $11.61. Currently, Crinetics Pharmaceuticals has an average volume of 193.8K.

Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRNX in relation to earlier this year.

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Crinetics Pharmaceuticals, Inc. operates as a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. Its product candidate, CRN00808, is an oral nonpeptide somatostatin agonist for the treatment of acromegaly. It is also developing other oral nonpeptide somatostatin agonists for neuroendocrine tumors and hyperinsulinism, as well as an oral nonpeptide ACTH antagonist for the treatment of Cushing’s disease. The company was founded by R. Scott Struthers, Yun-Fei Zhu and Stephen F. Betz in 2008 and is headquartered in San Diego, CA.