Analysts Anticipate Crinetics Pharmaceuticals Inc (CRNX) Will Announce Earnings of -$0.39 Per Share

Wall Street brokerages predict that Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) will post earnings per share (EPS) of ($0.39) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Crinetics Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.41) and the highest estimate coming in at ($0.35). The company is expected to issue its next quarterly earnings results on Wednesday, June 12th.

On average, analysts expect that Crinetics Pharmaceuticals will report full year earnings of ($1.89) per share for the current year, with EPS estimates ranging from ($2.38) to ($1.61). For the next financial year, analysts anticipate that the firm will post earnings of ($2.24) per share, with EPS estimates ranging from ($2.55) to ($2.02). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Crinetics Pharmaceuticals.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.06. Crinetics Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 1,117.52%. The company had revenue of $0.78 million during the quarter, compared to the consensus estimate of $0.32 million.

CRNX has been the subject of a number of analyst reports. HC Wainwright initiated coverage on shares of Crinetics Pharmaceuticals in a report on Thursday, February 14th. They set a “buy” rating and a $35.00 target price for the company. Cantor Fitzgerald started coverage on shares of Crinetics Pharmaceuticals in a research note on Monday, March 11th. They set an “overweight” rating and a $40.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $37.20.

In related news, major shareholder Ventures Iv L.P. 5Am sold 154,839 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $24.25, for a total transaction of $3,754,845.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Vivo Capital Fund Viii, L.P. sold 417,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $22.25, for a total transaction of $9,278,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 833,992 shares of company stock valued at $18,769,003.

Large investors have recently modified their holdings of the stock. Rhumbline Advisers bought a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at about $254,000. TIAA CREF Investment Management LLC purchased a new stake in Crinetics Pharmaceuticals during the 3rd quarter valued at approximately $268,000. Vanguard Group Inc. purchased a new stake in Crinetics Pharmaceuticals during the 3rd quarter valued at approximately $7,103,000. Bank of New York Mellon Corp purchased a new stake in Crinetics Pharmaceuticals during the 3rd quarter valued at approximately $453,000. Finally, Emory University purchased a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at approximately $2,577,000. 69.68% of the stock is owned by institutional investors.

CRNX traded up $0.51 during trading on Friday, reaching $23.79. 43,146 shares of the company’s stock were exchanged, compared to its average volume of 64,213. Crinetics Pharmaceuticals has a fifty-two week low of $19.23 and a fifty-two week high of $42.00. The firm has a market capitalization of $554.07 million and a PE ratio of -10.67.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is CRN00808, an oral selective nonpeptide somatostatin receptor type 2 biased agonist, which is in Phase I clinical trials used for the treatment of acromegaly.

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Earnings History and Estimates for Crinetics Pharmaceuticals (NASDAQ:CRNX)

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