Crinetics Pharmaceuticals (CRNX) to Release Earnings on Tuesday

Crinetics Pharmaceuticals (NASDAQ:CRNX) is set to release its earnings data after the market closes on Tuesday, November 12th. Analysts expect Crinetics Pharmaceuticals to post earnings of ($0.91) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released 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 during the quarter, compared to the consensus estimate of $0.47 million. The firm’s quarterly revenue was down 59.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($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 Trading Up 1.5 %

NASDAQ:CRNX opened at $60.69 on Friday. The business’s fifty day moving average price is $54.31 and its 200 day moving average price is $50.74. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of -16.06 and a beta of 0.62. Crinetics Pharmaceuticals has a 1-year low of $25.75 and a 1-year high of $60.93.

Insider Activity

In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 111,092 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the completion of the sale, the chief financial officer now directly owns 111,092 shares in the company, valued at $5,677,912.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction dated Thursday, October 3rd. The stock was 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 $1,557,337.41. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,410 shares of company stock valued at $2,275,929. Insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CRNX shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. HC Wainwright increased their target price on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Oppenheimer restated an “outperform” rating and set a $73.00 price target (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price target on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.55.

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.