Oppenheimer Reaffirms Their Buy Rating on Crinetics Pharmaceuticals (CRNX)

In a report released today, Leland Gershell from Oppenheimer maintained a Buy rating on Crinetics Pharmaceuticals (CRNX – Research Report), with a price target of $55.00. The company’s shares closed last Friday at $48.00.

Gershell covers the Healthcare sector, focusing on stocks such as Catalyst Pharma, Crinetics Pharmaceuticals, and Cue Biopharma. According to TipRanks, Gershell has an average return of 1.2% and a 34.42% success rate on recommended stocks.

Crinetics Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $63.91, a 33.15% upside from current levels. In a report released on May 10, H.C. Wainwright also reiterated a Buy rating on the stock with a $60.00 price target.

CRNX market cap is currently $3.79B and has a P/E ratio of -12.73.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is neutral on the stock. Last month, Richard Scott Struthers, the President & CEO of CRNX bought 20,000.00 shares for a total of $38,200.00.

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Crinetics Pharmaceuticals (CRNX) Company Description:

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.