FY2024 Earnings Forecast for CRNX Issued By Lifesci Capital

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) – Lifesci Capital decreased their FY2024 earnings per share (EPS) estimates for shares of Crinetics Pharmaceuticals in a report released on Tuesday, November 12th. Lifesci Capital analyst C. Jubinville now anticipates that the company will post earnings per share of ($3.80) 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 issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter in the prior year, the firm earned ($1.01) EPS.

Other equities analysts have also issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. Oppenheimer restated an “outperform” rating and issued a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. 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 report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $80.00 price target on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. Finally, Citigroup raised their price objective on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.18.

Crinetics Pharmaceuticals Stock Performance

Crinetics Pharmaceuticals stock opened at $54.72 on Friday. Crinetics Pharmaceuticals has a fifty-two week low of $27.55 and a fifty-two week high of $62.53. The stock has a market cap of $5.07 billion, a P/E ratio of -14.67 and a beta of 0.62. The firm’s fifty day moving average price is $54.97 and its 200-day moving average price is $51.23.

Insider Activity

In other Crinetics Pharmaceuticals news, 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 transaction of $1,277,750.00. Following the completion of the sale, the chief financial officer now owns 111,092 shares of the company’s stock, valued at $5,677,912.12. This represents a 18.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen F. Betz sold 1,035 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total transaction of $53,302.50. Following the completion of the transaction, the insider now owns 68,576 shares in the company, valued at $3,531,664. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,410 shares of company stock valued at $2,275,929. 6.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of CRNX. Comerica Bank bought a new position in Crinetics Pharmaceuticals in the first quarter worth about $33,000. Quest Partners LLC bought a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter worth approximately $42,000. Values First Advisors Inc. purchased a new position in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at approximately $84,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Crinetics Pharmaceuticals during the third quarter valued at approximately $91,000. Finally, KBC Group NV grew its stake in Crinetics Pharmaceuticals by 22.8% in the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after purchasing an additional 407 shares during the period. 98.51% of the stock is owned by hedge funds and other 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.