15 Stocks That Took a Nosedive in January

9. Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

30-day Decline as of February 3, 2025: 26.7%

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) registered a share price of $39.98 on February 3, marking a 27% decline from its share price on January 3. CRNX is a pharmaceutical company that develops therapies for people with endocrine diseases.

Early in January, the stock saw a steep decline amid safety and health concerns following the release of critical trial data. On January 11, Dennis Ding, an analyst at Jefferies maintained a hold rating on the stock and set a price target of $55. Ding gave a hold rating on the stock over its recent trial data for a drug, which raised concerns over its efficacy.

The analyst also highlighted that while the therapy showed promising signs, the performance fell short, explaining the decline in its share price. He also added that while these concerns hold, the stock remains expensive. This coupled with high investor expectations, the data from the trial had to be stronger. Despite this, analysts are bullish on the stock, and their median price target points to an upside of 91% from current levels.