Crinetics Pharmaceuticals Inc [CRNX] stock prices are up 4.64% to $48.03 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The CRNX shares have gain 2.96% over the last week, with a monthly amount glided 17.87%, and seem to be holding up well over a long-time horizon.
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On 11, April 2024, Crinetics Pharmaceuticals Announces April 2024 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4). In a post published today on Yahoo Finance, Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that on April 10, 2024, the Compensation Committee of Crinetics’ Board of Directors granted non-qualified stock option awards to purchase an aggregate of 121,300 shares of its common stock to ten new non-executive employees under the Crinetics Pharmaceuticals, Inc. 2021 Employment Inducement Incentive Award Plan (the “2021 Inducement Plan”). The stock options were granted as inducements material to the employees entering into employment with Crinetics in accordance with Nasdaq Listing Rule 5635(c)(4).
From an analyst’s perspective:
Crinetics Pharmaceuticals Inc [NASDAQ: CRNX] stock has seen the most recent analyst activity on March 06, 2024, when Citigroup initiated its Buy rating and assigned the stock a price target of $68. Previously, Morgan Stanley started tracking the stock with Overweight rating on January 16, 2024, and set its price target to $50. On December 21, 2023, Jefferies initiated with a Hold rating and assigned a price target of $35 on the stock. Oppenheimer started tracking with a Outperform rating for this stock on August 31, 2023, and assigned it a price target of $40. In a note dated April 24, 2023, Piper Sandler initiated an Overweight rating and provided a target price of $56 on this stock.
The stock price of Crinetics Pharmaceuticals Inc [CRNX] has been fluctuating between $15.66 and $49.58 over the past year. Currently, Wall Street analysts expect the stock to reach $57.67 within the next 12 months. Crinetics Pharmaceuticals Inc [NASDAQ: CRNX] shares were valued at $48.03 at the most recent close of the market. An investor can expect a potential return of 20.07% based on the average CRNX price forecast.
Analyzing the CRNX fundamentals
The Crinetics Pharmaceuticals Inc [NASDAQ:CRNX] reported sales of 0.00M for trailing twelve months, representing a drop of -100.00%. Gross Profit Margin for this corporation currently stands at 0.67% with Operating Profit Margin at -55.47%, Pretax Profit Margin comes in at -53.46%, and Net Profit Margin reading is -52.96%. To continue investigating profitability, this company’s Return on Assets is posted at -0.33, Equity is 2.98 and Total Capital is -0.38. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.1.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 46.64 points at the first support level, and at 45.26 for the second support level. However, for the 1st resistance point, the stock is sitting at 48.97, and for the 2nd resistance point, it is at 49.91.
Crinetics Pharmaceuticals Inc [CRNX] reported earnings per share of -$0.9 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.86/share, meaning a difference of -$0.04 and a surprise factor of -4.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$1.01 per share as compared to estimates of -$0.86 per share, a difference of -$0.15 representing a surprise of -17.40%.
Ratios To Look Out For
It’s worth pointing out that Crinetics Pharmaceuticals Inc [NASDAQ:CRNX]’s Current Ratio is 13.07. Further, the Quick Ratio stands at 13.07, while the Cash Ratio is 1.25.
Transactions by insiders
Recent insider trading involved Struthers Richard Scott, President & CEO, that happened on Apr 04 ’24 when 40951.0 shares were sold. Director, Okey Stephanie completed a deal on Mar 28 ’24 to sell 17500.0 shares. Meanwhile, Chief Operating Officer Knight Jeff E. sold 32359.0 shares on Mar 22 ’24.
