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

Crinetics Pharmaceuticals (NASDAQ:CRNX) posted its quarterly earnings data on Thursday. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.04, Zacks reports.

Crinetics Pharmaceuticals Stock Up 2.0 %

NASDAQ:CRNX opened at $33.21 on Friday. The firm has a market capitalization of $3.08 billion, a P/E ratio of -8.90 and a beta of 0.56. The company has a fifty day moving average of $41.53 and a 200 day moving average of $50.16. Crinetics Pharmaceuticals has a 52 week low of $31.84 and a 52 week high of $62.53.

Insiders Place Their Bets

In other news, insider Dana Pizzuti sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the completion of the sale, the insider now directly owns 31,748 shares in the company, valued at approximately $1,240,394.36. This represents a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRNX. Citigroup increased their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Jefferies Financial Group raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday, January 22nd. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a “peer perform” rating for the company. Finally, TD Cowen started coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.64.

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.