Crinetics Pharmaceuticals (CRNX) to Release Quarterly Earnings on Tuesday

Crinetics Pharmaceuticals (NASDAQ:CRNX) is scheduled to be announcing its earnings results after the market closes on Tuesday, November 12th. Analysts expect the company to announce earnings of ($0.91) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Thursday, August 8th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The firm had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.47 million. The company’s revenue was down 59.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.94) EPS. On average, analysts expect Crinetics Pharmaceuticals to post $-4 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Crinetics Pharmaceuticals Stock Up 0.2 %

CRNX opened at $56.82 on Tuesday. Crinetics Pharmaceuticals has a 52 week low of $25.75 and a 52 week high of $60.04. The company has a market cap of $4.55 billion, a PE ratio of -15.03 and a beta of 0.62. The business has a 50 day moving average price of $53.78 and a two-hundred day moving average price of $50.25.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price target on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. JPMorgan Chase & Co. upped their price target on shares of Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Oppenheimer restated an “outperform” rating and issued a $73.00 target price (down from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. HC Wainwright increased their target price on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.55.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $51.11, for a total value 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 $5,677,912.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction on 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 transaction, the insider now owns 28,507 shares in the company, valued at approximately $1,557,337.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,410 shares of company stock valued at $2,275,929. Insiders own 6.00% of the company’s stock.

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.