Crinetics Pharmaceuticals Inc. (CRNX) saw its stock price plummet 5.73% during intraday trading on Friday, marking a significant decline for the healthcare company.
The sharp drop followed news that Citizens lowered its price target on Crinetics to $95 from $97, while maintaining an Outperform rating on the shares. Analyst actions often influence market sentiment, and this price target adjustment appears to have contributed to the selling pressure.
Additional analyst commentary on Crinetics Pharmaceuticals was also published around the market open, with multiple firms weighing in on the healthcare sector and specifically mentioning CRNX, potentially adding to the negative investor reaction during the trading session.
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