Crinetics Pharmaceuticals (CRNX) to Release Quarterly Earnings on Thursday

Crinetics Pharmaceuticals (NASDAQ:CRNX) is scheduled to issue its quarterly earnings data after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.84) per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 4,223.27% and a negative return on equity of 52.93%. The company’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.84) earnings per share. On average, analysts expect Crinetics Pharmaceuticals to post $-3 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Crinetics Pharmaceuticals Stock Up 2.5 %

Shares of Crinetics Pharmaceuticals stock opened at $47.66 on Wednesday. The firm has a market capitalization of $3.75 billion, a P/E ratio of -12.88 and a beta of 0.63. The company has a 50 day moving average price of $44.13 and a 200 day moving average price of $37.67. Crinetics Pharmaceuticals has a 52 week low of $15.76 and a 52 week high of $49.58.

Insider Transactions at Crinetics Pharmaceuticals

In other news, CFO Marc Wilson sold 6,942 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $42.91, for a total transaction of $297,881.22. Following the sale, the chief financial officer now owns 110,630 shares of the company’s stock, valued at approximately $4,747,133.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Marc Wilson sold 6,942 shares of Crinetics Pharmaceuticals stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $42.91, for a total value of $297,881.22. Following the sale, the chief financial officer now owns 110,630 shares of the company’s stock, valued at approximately $4,747,133.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, April 15th. The shares were sold at an average price of $44.47, for a total transaction of $639,256.25. Following the completion of the sale, the insider now directly owns 27,786 shares in the company, valued at approximately $1,235,643.42. The disclosure for this sale can be found here. Insiders have sold 187,216 shares of company stock valued at $8,509,397 in the last 90 days. 7.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CRNX has been the subject of several research analyst reports. Citigroup initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Wednesday, March 6th. They issued a “buy” rating and a $68.00 price objective for the company. Cantor Fitzgerald raised their price target on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Crinetics Pharmaceuticals in a research report on Tuesday, March 19th. Piper Sandler raised their price target on shares of Crinetics Pharmaceuticals from $56.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a research report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Crinetics Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $57.58.

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.