Crinetics Pharmaceuticals (NASDAQ:CRNX) Announces Earnings Results, Misses Estimates By $0.05 EPS

Crinetics Pharmaceuticals (NASDAQ:CRNX) issued its quarterly earnings data on Tuesday. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.05), Briefing.com reports. During the same period last year, the business posted ($1.01) EPS.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ CRNX traded down $0.02 during mid-day trading on Thursday, hitting $58.90. 65,592 shares of the stock traded hands, compared to its average volume of 781,243. The company has a market cap of $4.71 billion, a PE ratio of -15.80 and a beta of 0.62. Crinetics Pharmaceuticals has a twelve month low of $27.55 and a twelve month high of $62.00. The firm has a 50 day simple moving average of $54.71 and a two-hundred day simple moving average of $51.09.

Insiders Place Their Bets

In related news, CFO Marc Wilson sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $51.11, for a total value of $1,277,750.00. Following the completion of the transaction, the chief financial officer now owns 111,092 shares in the company, valued at $5,677,912.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the transaction, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total value of $785,306.25. Following the completion of the sale, the insider now directly owns 28,507 shares of the company’s stock, valued at approximately $1,557,337.41. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,410 shares of company stock valued at $2,275,929 in the last 90 days. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

CRNX has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. HC Wainwright raised their target price on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $73.00 price target (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. Finally, JMP Securities reissued a “market outperform” rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.64.

Crinetics Pharmaceuticals Company Profile

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.