Equities research analysts expect Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) to announce earnings per share (EPS) of ($0.52) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Crinetics Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.60) and the highest is ($0.48). Crinetics Pharmaceuticals reported earnings of ($0.60) per share during the same quarter last year, which indicates a positive year over year growth rate of 13.3%. The business is scheduled to issue its next earnings report on Tuesday, November 10th.
According to Zacks, analysts expect that Crinetics Pharmaceuticals will report full-year earnings of ($2.32) per share for the current fiscal year, with EPS estimates ranging from ($2.55) to ($2.18). For the next year, analysts expect that the company will post earnings of ($2.36) per share, with EPS estimates ranging from ($2.85) to ($2.01). Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Crinetics Pharmaceuticals.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.02.
A number of analysts have recently commented on CRNX shares. HC Wainwright reissued a “buy” rating and set a $30.00 target price (down previously from $35.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, May 22nd. Cantor Fitzgerald boosted their price target on shares of Crinetics Pharmaceuticals from $28.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. BidaskClub cut Crinetics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Finally, Zacks Investment Research downgraded Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Crinetics Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $31.00.
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In related news, CEO Richard Scott Struthers sold 17,500 shares of the business’s stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $15.30, for a total value of $267,750.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 7.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CRNX. FMR LLC lifted its stake in shares of Crinetics Pharmaceuticals by 43.3% in the 2nd quarter. FMR LLC now owns 4,926,835 shares of the company’s stock worth $86,318,000 after acquiring an additional 1,488,535 shares during the period. Perceptive Advisors LLC raised its holdings in Crinetics Pharmaceuticals by 41.4% during the second quarter. Perceptive Advisors LLC now owns 3,659,381 shares of the company’s stock worth $59,171,000 after purchasing an additional 1,071,428 shares in the last quarter. Vivo Capital LLC acquired a new stake in Crinetics Pharmaceuticals in the first quarter valued at about $48,816,000. Orbimed Advisors LLC lifted its holdings in shares of Crinetics Pharmaceuticals by 35.0% in the 2nd quarter. Orbimed Advisors LLC now owns 2,753,567 shares of the company’s stock valued at $48,242,000 after buying an additional 714,285 shares during the period. Finally, Versant Venture Management LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the second quarter valued at approximately $35,576,000. Institutional investors own 95.66% of the company’s stock.
CRNX opened at $15.77 on Thursday. The firm’s fifty day simple moving average is $15.06 and its two-hundred day simple moving average is $16.75. Crinetics Pharmaceuticals has a 52-week low of $10.63 and a 52-week high of $26.67. The company has a market cap of $527.12 million, a price-to-earnings ratio of -6.46 and a beta of 1.19. The company has a quick ratio of 21.34, a current ratio of 21.34 and a debt-to-equity ratio of 0.02.
Crinetics Pharmaceuticals Company Profile
Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is CRN00808, an oral selective nonpeptide somatostatin receptor type 2 biased agonist, which is in Phase I clinical trials used for the treatment of acromegaly.
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20 Stocks Analysts Can’t Stop Upgrading
As you know, a single upgrade from a broker probably won’t be a major game changer for any single stock. But, what if there was a stock that had been upgraded by more than 10 different brokers during the last 90 days?
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