Oppenheimer Cuts Crinetics Pharmaceuticals (NASDAQ:CRNX) Price Target to $84.00

Crinetics Pharmaceuticals (NASDAQ:CRNX) had its price objective cut by Oppenheimer from $87.00 to $84.00 in a report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Monday, April 20th. Lifesci Capital upgraded shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a report on Friday, February 13th. The Goldman Sachs Group upgraded shares of Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Monday, January 12th. Wall Street Zen lowered shares of Crinetics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Finally, Citizens Jmp reduced their target price on shares of Crinetics Pharmaceuticals from $97.00 to $95.00 and set a “market outperform” rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.13.

Crinetics Pharmaceuticals Trading Up 1.5%

NASDAQ:CRNX opened at $37.48 on Monday. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -7.31 and a beta of 0.28. The company’s 50-day moving average is $38.00 and its two-hundred day moving average is $43.77. Crinetics Pharmaceuticals has a 12-month low of $25.83 and a 12-month high of $57.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Thursday, May 7th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.01). The firm had revenue of $10.73 million during the quarter, compared to analysts’ expectations of $8.51 million. Crinetics Pharmaceuticals had a negative net margin of 2,747.18% and a negative return on equity of 43.96%. Crinetics Pharmaceuticals’s revenue for the quarter was up 2873.4% on a year-over-year basis. During the same quarter last year, the company posted ($1.04) earnings per share. On average, equities research analysts forecast that Crinetics Pharmaceuticals will post -4.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Jeff E. Knight sold 85,163 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $40.10, for a total transaction of $3,415,036.30. Following the transaction, the insider directly owned 105,289 shares in the company, valued at $4,222,088.90. This represents a 44.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Scott Struthers sold 21,981 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $37.37, for a total transaction of $821,429.97. Following the transaction, the chief executive officer owned 404,778 shares in the company, valued at approximately $15,126,553.86. The trade was a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 142,380 shares of company stock worth $5,569,475. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Parkman Healthcare Partners LLC increased its position in Crinetics Pharmaceuticals by 0.4% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 73,725 shares of the company’s stock worth $3,071,000 after purchasing an additional 313 shares in the last quarter. Parallel Advisors LLC increased its position in Crinetics Pharmaceuticals by 34.6% during the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $57,000 after purchasing an additional 315 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Crinetics Pharmaceuticals by 5.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,952 shares of the company’s stock worth $248,000 after purchasing an additional 327 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Crinetics Pharmaceuticals by 107.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock worth $30,000 after purchasing an additional 331 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in Crinetics Pharmaceuticals by 6.3% during the 4th quarter. Brooklyn Investment Group now owns 5,890 shares of the company’s stock worth $280,000 after purchasing an additional 348 shares in the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Crinetics Pharmaceuticals

Here are the key news stories impacting Crinetics Pharmaceuticals this week:

• Positive Sentiment: Lifesci Capital raised its estimates for Crinetics’ Q2, Q3, Q4 and FY2026 EPS, signaling improving expectations for the company’s near-term earnings trajectory. The firm kept a Strong-Buy rating on CRNX.
• Positive Sentiment: The company’s Q1 earnings call presentation is the latest corporate update, which likely kept investor attention focused on Crinetics’ progress and pipeline execution. Crinetics Pharmaceuticals, Inc. 2026 Q1 – Results – Earnings Call Presentation
• Neutral Sentiment: Oppenheimer reportedly cut its price target to $84.00, which may have tempered enthusiasm, but the change is still above the stock’s recent trading range and does not indicate a rating downgrade.
• Negative Sentiment: HC Wainwright lowered several longer-term EPS estimates, including FY2026, FY2027, FY2028 and FY2029, reflecting a more cautious view on profitability over time.
• Negative Sentiment: HC Wainwright also trimmed its Q2 and Q3 2026 EPS forecasts, which points to softer expectations for the next few quarters despite maintaining coverage.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.