While Crinetics Pharmaceuticals Inc has overperformed by 2.34%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CRNX rose by 94.03%, with highs and lows ranging from $60.04 to $25.75, whereas the simple moving average jumped by 23.78% in the last 200 days.
On March 06, 2024, Citigroup started tracking Crinetics Pharmaceuticals Inc (NASDAQ: CRNX) recommending Buy. A report published by Morgan Stanley on January 16, 2024, Initiated its previous ‘Overweight’ rating for CRNX. Jefferies also rated CRNX shares as ‘Hold’, setting a target price of $35 on the company’s shares in an initiating report dated December 21, 2023. JP Morgan Initiated an Overweight rating on November 20, 2023, and assigned a price target of $35. Cantor Fitzgerald initiated its ‘Overweight’ rating for CRNX, as published in its report on October 24, 2023. Oppenheimer’s report from August 31, 2023 suggests a price prediction of $40 for CRNX shares, giving the stock a ‘Outperform’ rating. Piper Sandler also rated the stock as ‘Overweight’.
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Analysis of Crinetics Pharmaceuticals Inc (CRNX)
In order to gain a clear picture of Crinetics Pharmaceuticals Inc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -47.66% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 16.09, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 656.06K can be a very valuable indicator of volatility for CRNX stock. On a monthly basis, the volatility of the stock is set at 3.84%, whereas on a weekly basis, it is put at 4.14%, with a gain of 6.10% over the past seven days. Furthermore, long-term investors anticipate a median target price of $69.21, showing growth from the present price of $59.16, which can serve as yet another indication of whether CRNX is worth investing in or should be passed over.
How Do You Analyze Crinetics Pharmaceuticals Inc Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 6.01%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 91.88% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
CRNX shares are owned by institutional investors to the tune of 91.88% at present.
