What is HC Wainwright’s Estimate for CRNX FY2028 Earnings?

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) – Investment analysts at HC Wainwright lowered their FY2028 EPS estimates for Crinetics Pharmaceuticals in a research note issued on Sunday, December 14th. HC Wainwright analyst D. Tsao now forecasts that the company will post earnings per share of $0.97 for the year, down from their prior forecast of $0.99. The consensus estimate for Crinetics Pharmaceuticals’ current full-year earnings is ($3.73) per share. HC Wainwright also issued estimates for Crinetics Pharmaceuticals’ FY2029 earnings at $8.79 EPS.

Several other brokerages have also issued reports on CRNX. The Goldman Sachs Group boosted their price target on Crinetics Pharmaceuticals from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, October 8th. JMP Securities lifted their price target on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the company a “market outperform” rating in a research note on Friday, September 26th. Morgan Stanley upped their price objective on shares of Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Finally, JPMorgan Chase & Co. reduced their target price on Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, September 24th. Eleven 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $77.55.

Crinetics Pharmaceuticals Price Performance

Shares of Crinetics Pharmaceuticals stock opened at $49.32 on Tuesday. The stock’s 50-day moving average is $44.08 and its 200 day moving average is $36.36. Crinetics Pharmaceuticals has a one year low of $24.10 and a one year high of $56.15. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of -10.89 and a beta of 0.20.

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

Institutional Trading of Crinetics Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Exome Asset Management LLC purchased a new stake in Crinetics Pharmaceuticals during the first quarter valued at about $1,720,000. Rhumbline Advisers raised its position in shares of Crinetics Pharmaceuticals by 6.3% in the first 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 lifted its stake 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 valued at $1,910,000 after buying an additional 13,845 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Crinetics Pharmaceuticals by 20.7% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 176,517 shares of the company’s stock worth $5,077,000 after buying an additional 30,243 shares during the period. Finally, Walleye Capital LLC grew its stake in Crinetics Pharmaceuticals by 53.5% in the 2nd quarter. Walleye Capital LLC now owns 190,373 shares of the company’s stock valued at $5,475,000 after buying an additional 66,391 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Insider Buying and Selling

In related news, Director Matthew K. Fust sold 16,000 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $44.75, for a total value of $716,000.00. Following the sale, the director owned 22,836 shares in the company, valued at $1,021,911. This represents a 41.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dana Pizzuti sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $42.66, for a total value of $213,300.00. Following the completion of the transaction, the insider owned 66,270 shares in the company, valued at $2,827,078.20. This represents a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,000 shares of company stock worth $1,318,350 in the last quarter. Insiders own 4.60% of the company’s stock.

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.