Research Analysts Issue Forecasts for CRNX FY2029 Earnings

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) – Equities researchers at HC Wainwright reduced their FY2029 EPS estimates for shares of Crinetics Pharmaceuticals in a research report issued on Friday, November 7th. HC Wainwright analyst D. Tsao now expects that the company will post earnings of $8.80 per share for the year, down from their previous forecast of $9.25. The consensus estimate for Crinetics Pharmaceuticals’ current full-year earnings is ($3.73) per share.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 24th. Citizens Jmp lowered their price objective on shares of Crinetics Pharmaceuticals from $143.00 to $108.00 and set a “market outperform” rating on the stock in a report on Friday, November 7th. JMP Securities boosted their price target on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the stock a “market outperform” rating in a research report on Friday, September 26th. Robert W. Baird upped their target price on Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Finally, Leerink Partners increased their price objective on Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.25.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX opened at $42.94 on Monday. The stock’s 50-day moving average is $40.01 and its 200-day moving average is $34.00. Crinetics Pharmaceuticals has a one year low of $24.10 and a one year high of $62.53. The firm has a market cap of $4.07 billion, a P/E ratio of -9.48 and a beta of 0.25.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.11). The company had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.39 million. During the same quarter in the previous year, the firm earned ($0.96) earnings per share.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, Director Matthew K. Fust sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $44.75, for a total transaction of $716,000.00. Following the completion of the sale, the director directly owned 22,836 shares in the company, valued at $1,021,911. This trade represents a 41.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dana Pizzuti sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $30.43, for a total value of $912,900.00. Following the completion of the transaction, the insider directly owned 66,270 shares in the company, valued at $2,016,596.10. The trade was a 31.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 66,492 shares of company stock valued at $2,420,687 in the last three months. 6.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Exome Asset Management LLC acquired a new position in shares of Crinetics Pharmaceuticals in the first quarter valued at about $1,720,000. Rhumbline Advisers boosted its holdings in Crinetics Pharmaceuticals by 6.3% in the 1st quarter. Rhumbline Advisers now owns 131,950 shares of the company’s stock valued at $4,426,000 after purchasing an additional 7,872 shares during the period. Intech Investment Management LLC grew its position in shares of Crinetics Pharmaceuticals by 32.1% during the 1st quarter. Intech Investment Management LLC now owns 56,950 shares of the company’s stock worth $1,910,000 after purchasing an additional 13,845 shares in the last quarter. Swiss National Bank increased its holdings in shares of Crinetics Pharmaceuticals by 1.5% during the first quarter. Swiss National Bank now owns 161,800 shares of the company’s stock worth $5,427,000 after purchasing an additional 2,400 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Crinetics Pharmaceuticals by 2.4% in the first quarter. Vanguard Group Inc. now owns 9,311,600 shares of the company’s stock valued at $312,311,000 after buying an additional 222,209 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

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.