HC Wainwright Reiterates Buy Rating on Crinetics Pharmaceuticals

HC Wainwright has reiterated its buy rating on Crinetics Pharmaceuticals, Inc. (NasdaqGS: CRNX) with a price target of $81. This update, announced on June 15, 2026, reflects continued confidence in the company's prospects.

What Changed in HC Wainwright's Crinetics Position

HC Wainwright's analyst Douglas Tsao reiterated the buy rating for Crinetics Pharmaceuticals, maintaining a target price of $81. This suggests a positive outlook for the company, which is currently trading at $34.47.

Other Institutional Activity in Crinetics Pharmaceuticals

Several institutional investors have shown interest in Crinetics Pharmaceuticals. FMR LLC increased its holdings by 1,466,024 shares, resulting in a total of 15,759,799 shares valued at approximately $572.4 million. BlackRock, Inc. added 490,267 shares, bringing its total to 8,478,815 shares worth about $307.9 million. Farallon Capital Management LLC also grew its stake by 1,405,000 shares, ending with 8,338,098 shares valued at $302.8 million. Meanwhile, Wellington Management Group LLP increased its position by 119,315 shares to hold 8,157,204 shares valued at $296.3 million.

Crinetics Pharmaceuticals Stock Snapshot

Shares of Crinetics Pharmaceuticals, Inc. are trading at $34.47 on the NasdaqGS. The company has a market cap of about $3.63 billion and a beta of 0.239, indicating relatively low volatility. Its 52-week trading range is between $25.83 and $57.99. The stock's 50-day moving average is $37.46, while the 200-day moving average stands at $41.65. Crinetics maintains a strong liquidity position with a current ratio of 18.603 and a quick ratio of 18.245.

Recent Earnings

In its recent earnings report, Crinetics Pharmaceuticals posted revenue of $18.1 million, reflecting a growth rate of 28.7%. However, the company is not yet profitable with an EPS of -$5.14 and a return on equity of -39.2%. The next earnings date is set for August 6, 2026.

Insider Buying and Selling at Crinetics Pharmaceuticals, Inc.

Insider activity at Crinetics Pharmaceuticals includes transactions by President and CEO Dr. R. Scott Struthers, who both bought and sold 968,800 shares on May 29, 2026. Additionally, Chief Development and Operating Officer Jeff Knight engaged in multiple transactions on April 8, 2026, including planned sales of 85,163 shares at $40.10 and unplanned purchases of 78,434 shares at $22.42.

Analysts Set New Price Targets

On June 15, 2026, HC Wainwright & Co. reiterated its buy rating with a price target of $81. Other analysts, such as Citizens and Evercore ISI Group, have maintained buy ratings with targets of $95 and $88, respectively. The consensus among analysts is a strong buy, with an average target price of $83.14 based on 14 opinions.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc. is a biotechnology company based in San Diego, California. Founded in 2008, it focuses on discovering and developing novel treatments for rare endocrine diseases and related tumors. The company's lead candidate, Paltusotine, is in Phase 3 trials for acromegaly and carcinoid syndrome. Crinetics is also working on several other drug candidates targeting various endocrine and metabolic disorders.

Bottom Line

HC Wainwright's reaffirmation of its buy rating for Crinetics Pharmaceuticals highlights ongoing confidence in the company's potential. With a strong pipeline of drug candidates and growing institutional interest, Crinetics remains a company to watch. Keep in mind that analyst ratings and 13F filings are backward-looking and may not reflect current conditions.