Zacks: Brokerages Anticipate Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) to Post -$0.60 Earnings Per Share

Equities analysts expect Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) to post ($0.60) earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Crinetics Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.67) and the highest estimate coming in at ($0.51). Crinetics Pharmaceuticals posted earnings of ($0.66) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 9.1%. The business is expected to announce its next quarterly earnings results on Tuesday, March 29th.

According to Zacks, analysts expect that Crinetics Pharmaceuticals will report full-year earnings of ($2.71) per share for the current year, with EPS estimates ranging from ($2.79) to ($2.59). For the next year, analysts expect that the firm will post earnings of ($2.54) per share, with EPS estimates ranging from ($2.73) to ($2.35). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Crinetics Pharmaceuticals.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Friday, November 5th. The company reported ($0.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.72) by ($0.01).

Several brokerages have recently weighed in on CRNX. Evercore ISI began coverage on Crinetics Pharmaceuticals in a report on Tuesday. They set an “outperform” rating on the stock. Jonestrading restated a “buy” rating and set a $45.00 target price on shares of Crinetics Pharmaceuticals in a research report on Thursday, September 16th. HC Wainwright raised their target price on Crinetics Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 8th. Finally, Zacks Investment Research upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $34.20.

In other news, Director Matthew K. Fust sold 6,046 shares of the business’s stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $25.50, for a total transaction of $154,173.00. Following the completion of the sale, the director now owns 18,582 shares in the company, valued at $473,841. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephen F. Betz sold 3,900 shares of the business’s stock in a transaction on Monday, November 8th. The stock was sold at an average price of $28.42, for a total value of $110,838.00. The disclosure for this sale can be found here. Insiders have sold a total of 71,210 shares of company stock valued at $1,830,004 in the last 90 days. 7.40% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in CRNX. Advisor Group Holdings Inc. grew its stake in shares of Crinetics Pharmaceuticals by 222.2% during the second quarter. Advisor Group Holdings Inc. now owns 1,450 shares of the company’s stock worth $27,000 after purchasing an additional 1,000 shares during the period. Royal Bank of Canada grew its stake in shares of Crinetics Pharmaceuticals by 215.0% during the first quarter. Royal Bank of Canada now owns 1,786 shares of the company’s stock worth $27,000 after purchasing an additional 1,219 shares during the period. Great West Life Assurance Co. Can acquired a new stake in shares of Crinetics Pharmaceuticals during the second quarter worth $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Crinetics Pharmaceuticals during the third quarter worth $42,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Crinetics Pharmaceuticals during the first quarter worth $43,000. Institutional investors own 85.05% of the company’s stock.

Shares of NASDAQ:CRNX traded up $0.38 during trading on Thursday, hitting $27.48. 494,348 shares of the stock were exchanged, compared to its average volume of 187,906. Crinetics Pharmaceuticals has a 1-year low of $12.60 and a 1-year high of $28.78. The stock has a market capitalization of $1.31 billion, a P/E ratio of -9.88 and a beta of 1.37. The company has a fifty day moving average price of $23.59.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc operates as a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. Its product candidate, CRN00808, is an oral nonpeptide somatostatin agonist for the treatment of acromegaly.

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Earnings History and Estimates for Crinetics Pharmaceuticals (NASDAQ:CRNX)

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