FY2024 Earnings Forecast for CRNX Issued By HC Wainwright

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) – Equities research analysts at HC Wainwright decreased their FY2024 EPS estimates for shares of Crinetics Pharmaceuticals in a research note issued on Wednesday, November 13th. HC Wainwright analyst D. Tsao now anticipates that the company will earn ($3.70) per share for the year, down from their previous forecast of ($3.66). HC Wainwright has a “Buy” rating and a $81.00 price target on the stock. The consensus estimate for Crinetics Pharmaceuticals’ current full-year earnings is ($3.72) per share. HC Wainwright also issued estimates for Crinetics Pharmaceuticals’ Q4 2024 earnings at ($0.87) EPS, Q1 2025 earnings at ($0.88) EPS, Q2 2025 earnings at ($0.88) EPS, Q3 2025 earnings at ($0.95) EPS, Q4 2025 earnings at ($0.95) EPS, FY2025 earnings at ($3.65) EPS, FY2026 earnings at ($4.00) EPS, FY2027 earnings at ($1.95) EPS and FY2028 earnings at $2.59 EPS.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data 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 business posted ($1.01) earnings per share.

A number of other equities research analysts also recently commented on CRNX. JMP Securities reissued a “market outperform” rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Citigroup lifted their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.18.

Crinetics Pharmaceuticals Stock Performance

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

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of the firm’s 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 completion of the sale, the insider now directly 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 90 days, 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 Trading of Crinetics Pharmaceuticals

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

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.