FY2024 EPS Estimates for CRNX Lifted by Cantor Fitzgerald

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) – Analysts at Cantor Fitzgerald boosted their FY2024 earnings per share estimates for shares of Crinetics Pharmaceuticals in a research report issued to clients and investors on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now expects that the company will earn ($3.69) per share for the year, up from their prior estimate of ($3.91). Cantor Fitzgerald currently has a “Overweight” rating and a $90.00 price objective on the stock. The consensus estimate for Crinetics Pharmaceuticals’ current full-year earnings is ($3.75) per share.

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

Other equities research analysts have also issued research reports about the stock. Citigroup upped their target price on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday. JMP Securities restated a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. HC Wainwright upped their price target on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Oppenheimer reissued an “outperform” rating and issued a $73.00 price target (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $70.18.

Crinetics Pharmaceuticals Trading Down 8.3 %

NASDAQ CRNX opened at $54.72 on Monday. The company has a fifty day simple moving average of $54.97 and a 200 day simple moving average of $51.32. Crinetics Pharmaceuticals has a 12-month low of $27.55 and a 12-month high of $62.53. The company has a market cap of $5.07 billion, a P/E ratio of -14.67 and a beta of 0.62.

Insider Transactions at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total value of $785,306.25. Following the sale, the insider now owns 28,507 shares of the company’s stock, valued at approximately $1,557,337.41. The trade was a 33.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Marc Wilson sold 25,000 shares of the 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 transaction, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. This trade represents a 18.37 % 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 in the last ninety days. Company insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank bought a new stake in Crinetics Pharmaceuticals during the 1st quarter valued at $33,000. Quest Partners LLC bought a new stake in shares of Crinetics Pharmaceuticals during the 2nd quarter valued at $42,000. Values First Advisors Inc. purchased a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth about $84,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the third quarter worth about $91,000. Finally, KBC Group NV lifted its stake in Crinetics Pharmaceuticals by 22.8% in the 3rd quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after purchasing an additional 407 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.

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.