Janus Henderson Group PLC purchased a new stake in Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 524,744 shares of the company’s stock, valued at approximately $15,034,000. Janus Henderson Group PLC owned about 2.18% of Crinetics Pharmaceuticals at the end of the most recent quarter.
Separately, Victory Capital Management Inc. purchased a new position in Crinetics Pharmaceuticals in the third quarter valued at approximately $2,716,000. Hedge funds and other institutional investors own 67.26% of the company’s stock.
Several research firms recently commented on CRNX. Zacks Investment Research upgraded shares of Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. JPMorgan Chase & Co. cut their price target on shares of Crinetics Pharmaceuticals from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 14th. Piper Jaffray Companies began coverage on shares of Crinetics Pharmaceuticals in a report on Monday, August 13th. They issued an “overweight” rating and a $40.00 price target on the stock. Finally, Leerink Swann began coverage on shares of Crinetics Pharmaceuticals in a report on Monday, August 13th. They issued an “outperform” rating and a $43.00 price target on the stock.
NASDAQ CRNX opened at $33.29 on Friday. Crinetics Pharmaceuticals Inc has a one year low of $19.23 and a one year high of $42.00.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Tuesday, November 13th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.04). The firm had revenue of $0.55 million for the quarter, compared to analysts’ expectations of $0.28 million. Crinetics Pharmaceuticals had a negative net margin of 972.23% and a negative return on equity of 78.81%. On average, analysts expect that Crinetics Pharmaceuticals Inc will post -2.2 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: “Janus Henderson Group PLC Takes $15.03 Million Position in Crinetics Pharmaceuticals Inc (CRNX)” was originally posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another website, it was stolen and republished in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/12/08/janus-henderson-group-plc-takes-15-03-million-position-in-crinetics-pharmaceuticals-inc-crnx.html.
Crinetics Pharmaceuticals Profile
Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is CRN00808, an oral selective nonpeptide somatostatin receptor type 2 biased agonist, which is in Phase I clinical trials used for the treatment of acromegaly.
Further Reading: Growth Stocks
Receive News & Ratings for Crinetics Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crinetics Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.