Crinetics Pharmaceuticals (CRNX) to Release Earnings on Tuesday

Crinetics Pharmaceuticals (NASDAQ:CRNX) will be issuing its quarterly earnings data after the market closes on Tuesday, November 12th. Analysts expect the company to announce earnings of ($0.91) per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.08). The company had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.47 million. During the same quarter in the previous year, the firm posted ($0.94) earnings per share. The business’s quarterly revenue was down 59.6% on a year-over-year basis. 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 %

Shares of CRNX stock opened at $56.82 on Tuesday. The business’s 50 day moving average is $53.78 and its two-hundred day moving average is $50.25. Crinetics Pharmaceuticals has a 12 month low of $25.75 and a 12 month 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.

Insider Buying and Selling

In other news, CFO Marc Wilson sold 25,000 shares of the company’s stock in a transaction on 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of the 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 sale, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen F. Betz sold 1,035 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total value of $53,302.50. Following the completion of the transaction, the insider now directly owns 68,576 shares of the company’s stock, valued at approximately $3,531,664. This trade represents 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 over the last three months. 6.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CRNX shares. JPMorgan Chase & Co. upped their price objective on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. Oppenheimer restated an “outperform” rating and issued a $73.00 price target (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. HC Wainwright boosted their price target on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a research report 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, Crinetics Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $68.55.

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.