What is Lifesci Capital’s Forecast for CRNX FY2024 Earnings?

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) – Research analysts at Lifesci Capital dropped their FY2024 earnings per share (EPS) estimates for shares of Crinetics Pharmaceuticals in a report issued on Tuesday, November 12th. Lifesci Capital analyst C. Jubinville now expects that the company will earn ($3.80) per share for the year, down from their previous forecast of ($3.47). The consensus estimate for Crinetics Pharmaceuticals’ current full-year earnings is ($3.72) per share. Lifesci Capital also issued estimates for Crinetics Pharmaceuticals’ Q4 2024 earnings at ($0.97) EPS.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter last year, the company earned ($1.01) earnings per share.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. HC Wainwright lifted their target price on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price target on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. Citigroup boosted their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Oppenheimer reiterated an “outperform” rating and set a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.18.

Crinetics Pharmaceuticals Trading Down 8.3 %

Shares of NASDAQ:CRNX opened at $54.72 on Friday. The stock has a 50 day moving average of $54.97 and a 200 day moving average of $51.28. The company has a market cap of $5.07 billion, a PE ratio of -14.67 and a beta of 0.62. Crinetics Pharmaceuticals has a 12-month low of $27.55 and a 12-month high of $62.53.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $51.11, for a total value of $1,277,750.00. Following the completion of the transaction, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at $5,677,912.12. This trade represents a 18.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Dana Pizzuti sold 14,375 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total transaction of $785,306.25. Following the sale, the insider now owns 28,507 shares in the company, valued at $1,557,337.41. This represents a 33.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,410 shares of company stock valued at $2,275,929 in the last quarter. 6.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its position in shares of Crinetics Pharmaceuticals by 3.3% during the 2nd quarter. AQR Capital Management LLC now owns 7,126 shares of the company’s stock valued at $319,000 after purchasing an additional 227 shares during the last quarter. US Bancorp DE increased its position in Crinetics Pharmaceuticals by 3.4% during the third quarter. US Bancorp DE now owns 11,488 shares of the company’s stock valued at $587,000 after acquiring an additional 373 shares during the last quarter. KBC Group NV increased its position in Crinetics Pharmaceuticals by 22.8% during the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after acquiring an additional 407 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Crinetics Pharmaceuticals by 20.8% in the 2nd quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock worth $121,000 after acquiring an additional 464 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Crinetics Pharmaceuticals by 2.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company’s stock worth $1,054,000 after purchasing an additional 505 shares during the period. 98.51% of the stock is owned by institutional investors.

Crinetics Pharmaceuticals Company Profile

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.