FY2024 EPS Estimates for CRNX Increased by Cantor Fitzgerald

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

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued 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 period last year, the business posted ($1.01) EPS.

A number of other equities analysts have also commented on CRNX. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. HC Wainwright boosted their price target on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Citigroup increased 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. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $73.00 price target (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from 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 %

NASDAQ CRNX opened at $54.72 on Monday. The company has a market cap of $5.07 billion, a price-to-earnings ratio of -14.67 and a beta of 0.62. The company has a 50 day moving average of $54.97 and a 200-day moving average of $51.32. Crinetics Pharmaceuticals has a 1-year low of $27.55 and a 1-year high of $62.53.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the first quarter valued at about $279,000. Swiss National Bank boosted its holdings in Crinetics Pharmaceuticals by 21.4% in the first quarter. Swiss National Bank now owns 126,500 shares of the company’s stock valued at $5,921,000 after acquiring an additional 22,300 shares during the last quarter. Sei Investments Co. increased its position in Crinetics Pharmaceuticals by 75.9% during the 1st quarter. Sei Investments Co. now owns 29,669 shares of the company’s stock valued at $1,389,000 after purchasing an additional 12,804 shares during the period. Russell Investments Group Ltd. raised its holdings in Crinetics Pharmaceuticals by 366,571.4% during the 1st quarter. Russell Investments Group Ltd. now owns 51,334 shares of the company’s stock worth $2,403,000 after purchasing an additional 51,320 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Crinetics Pharmaceuticals by 11.0% in the 1st quarter. ProShare Advisors LLC now owns 16,731 shares of the company’s stock worth $783,000 after purchasing an additional 1,655 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, CFO Marc Wilson sold 25,000 shares of the business’s 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 sale, the chief financial officer now owns 111,092 shares of the company’s stock, valued at $5,677,912.12. The trade was a 18.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction 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 completion of the sale, the insider now owns 28,507 shares of the company’s stock, valued at $1,557,337.41. The trade was a 33.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,410 shares of company stock worth $2,275,929. 6.00% of the stock is currently owned by insiders.

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.