Crinetics Pharmaceuticals (CRNX) Set to Announce Quarterly Earnings on Tuesday

Crinetics Pharmaceuticals (NASDAQ:CRNX) is scheduled to post its quarterly earnings results after the market closes on Tuesday, November 12th. Analysts expect Crinetics Pharmaceuticals to post earnings of ($0.91) per share for the quarter. Parties that wish to register 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The business had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.47 million. During the same quarter in the previous year, the company posted ($0.94) EPS. Crinetics Pharmaceuticals’s quarterly revenue was down 59.6% compared to the same quarter last year. 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 Performance

Shares of NASDAQ:CRNX opened at $60.69 on Monday. The business’s 50-day simple moving average is $54.31 and its 200 day simple moving average is $50.79. The company has a market cap of $4.86 billion, a P/E ratio of -16.06 and a beta of 0.62. Crinetics Pharmaceuticals has a one year low of $25.75 and a one year high of $60.93.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, insider Stephen F. Betz sold 1,035 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $51.50, for a total transaction of $53,302.50. Following the transaction, the insider now directly owns 68,576 shares in the company, valued at $3,531,664. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Stephen F. Betz sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $53.19, for a total transaction of $159,570.00. Following the completion of the transaction, the insider now directly owns 69,611 shares of the company’s stock, valued at approximately $3,702,609.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen F. Betz sold 1,035 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $51.50, for a total value of $53,302.50. Following the sale, the insider now owns 68,576 shares in the company, valued at $3,531,664. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,410 shares of company stock worth $2,275,929 over the last quarter. 6.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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