Crinetics Pharmaceuticals (CRNX) to Release Quarterly Earnings on Thursday

Crinetics Pharmaceuticals (NASDAQ:CRNX) will post its quarterly earnings results after the market closes on Thursday, May 9th. Analysts expect Crinetics Pharmaceuticals to post earnings of ($0.84) per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 4,223.27% and a negative return on equity of 52.93%. The company’s revenue was down 100.0% compared to the same quarter last year. During the same period last year, the business earned ($0.84) earnings per share. On average, analysts expect Crinetics Pharmaceuticals to post $-3 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX opened at $47.66 on Wednesday. The firm has a market capitalization of $3.75 billion, a P/E ratio of -12.88 and a beta of 0.63. Crinetics Pharmaceuticals has a 1-year low of $15.76 and a 1-year high of $49.58. The business’s 50-day simple moving average is $44.13 and its 200-day simple moving average is $37.67.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, Director Matthew K. Fust sold 60,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $44.14, for a total transaction of $2,648,400.00. Following the sale, the director now directly owns 18,536 shares in the company, valued at approximately $818,179.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Crinetics Pharmaceuticals news, Director Matthew K. Fust sold 60,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $44.14, for a total transaction of $2,648,400.00. Following the sale, the director now directly owns 18,536 shares in the company, valued at approximately $818,179.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marc Wilson sold 6,942 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $42.91, for a total value of $297,881.22. Following the sale, the chief financial officer now owns 110,630 shares in the company, valued at $4,747,133.30. The disclosure for this sale can be found here. Insiders have sold 187,216 shares of company stock worth $8,509,397 in the last three months. 7.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Jonestrading lifted their price objective on Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Morgan Stanley began coverage on Crinetics Pharmaceuticals in a research report on Tuesday, January 16th. They set an “overweight” rating and a $50.00 price target on the stock. Cantor Fitzgerald boosted their price target on Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a research report on Thursday, March 28th. Finally, Oppenheimer boosted their price target on Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.58.

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.