Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) price on Friday, June 13, fall -1.24% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $31.77.
A look at the stock’s price movement, the close in the last trading session was $32.17. Turning to its 52-week performance, $62.53 and $24.10 were the 52-week high and 52-week low respectively. Overall, CRNX moved 1.53% over the past month.
Crinetics Pharmaceuticals Inc’s market cap currently stands at around $2.98 billion, with investors looking forward to this quarter’s earnings report slated for in July.
The average forecast suggests up to a 31.12% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.99M, representing a 380.27% jump on that reported in the last financial year.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 5 recommend CRNX as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CRNX’s current price about 1.36% and 2.48% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 50.34, while 7-day volatility ratio is 2.04% and 1.99% in the 30-day chart. Further, Crinetics Pharmaceuticals Inc (CRNX) has a beta value of 0.28, and an average true range (ATR) of 1.36. Analysts have given the company’s stock an average 52-week price target of $75.5, forecast between a low of $60 and high of $91. Looking at the price targets, the low is -88.86% off current price level while to achieve the yearly target high, price needs to move -186.43%. Nonetheless, investors will most likely welcome a -137.65% jump to $75.5 which is the analysts’ median price.
If we refocus on Crinetics Pharmaceuticals Inc (NASDAQ:CRNX), historical trading data shows that trading volumes averaged 952.11K over the past 3 months. The company’s latest data on shares outstanding shows there are 93.53 million shares.
The 7.44% of Crinetics Pharmaceuticals Inc’s shares are in the hands of company insiders while institutional holders own 105.00% of the company’s shares. Current price change has pushed the stock -37.86% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CRNX stock continues to rise going into the next quarter.
