Cantor Fitzgerald Forecasts CRNX FY2025 Earnings

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) – Investment analysts at Cantor Fitzgerald issued their FY2025 EPS estimates for shares of Crinetics Pharmaceuticals in a research note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst J. Schimmer expects that the company will earn ($4.30) per share for the year. The consensus estimate for Crinetics Pharmaceuticals’ current full-year earnings is ($3.73) per share.

Several other equities analysts have also commented on CRNX. Citigroup lifted their price objective on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Finally, HC Wainwright restated a “buy” rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Crinetics Pharmaceuticals has an average rating of “Buy” and an average target price of $72.64.

Crinetics Pharmaceuticals Stock Up 1.4 %

Shares of Crinetics Pharmaceuticals stock opened at $39.20 on Wednesday. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -10.51 and a beta of 0.60. The business has a 50-day moving average price of $51.19 and a 200-day moving average price of $52.77. Crinetics Pharmaceuticals has a twelve month low of $35.51 and a twelve month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its 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 in the prior year, the company earned ($1.01) earnings per share.

Insider Transactions at Crinetics Pharmaceuticals

In other news, COO Jeff E. Knight sold 501 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.52, for a total value of $28,316.52. Following the sale, the chief operating officer now directly owns 51,653 shares in the company, valued at $2,919,427.56. This represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CRNX. Barclays PLC grew its stake in Crinetics Pharmaceuticals by 75.5% during the 3rd quarter. Barclays PLC now owns 207,712 shares of the company’s stock valued at $10,614,000 after purchasing an additional 89,358 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Crinetics Pharmaceuticals by 61.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock worth $73,815,000 after buying an additional 528,688 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Crinetics Pharmaceuticals by 17.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company’s stock valued at $273,764,000 after acquiring an additional 885,876 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Crinetics Pharmaceuticals by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock valued at $94,458,000 after acquiring an additional 169,746 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in Crinetics Pharmaceuticals by 0.5% during the third quarter. Jennison Associates LLC now owns 2,793,614 shares of the company’s stock worth $142,754,000 after purchasing an additional 13,470 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other 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.