Crinetics Pharmaceuticals (NASDAQ:CRNX) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Crinetics Pharmaceuticals (NASDAQ:CRNX) released its earnings results on Thursday. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.04, Zacks reports.

Crinetics Pharmaceuticals Stock Up 7.7 %

CRNX stock opened at $35.78 on Friday. Crinetics Pharmaceuticals has a twelve month low of $31.84 and a twelve month high of $62.53. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -9.59 and a beta of 0.56. The firm’s fifty day simple moving average is $41.53 and its two-hundred day simple moving average is $50.16.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the transaction, the insider now owns 31,748 shares in the company, valued at $1,240,394.36. The trade was a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CRNX. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday, January 22nd. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating on the stock. Wolfe Research began coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a “peer perform” rating on the stock. Citigroup boosted their target price on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, HC Wainwright restated a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.64.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.