Analysts forecast that Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) will announce earnings per share (EPS) of ($0.49) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Crinetics Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.41) and the lowest estimate coming in at ($0.55). Crinetics Pharmaceuticals posted earnings of ($0.38) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 28.9%. The business is expected to report its next quarterly earnings results on Tuesday, November 12th.
On average, analysts expect that Crinetics Pharmaceuticals will report full-year earnings of ($1.92) per share for the current year, with EPS estimates ranging from ($2.26) to ($1.59). For the next financial year, analysts expect that the business will report earnings of ($2.56) per share, with EPS estimates ranging from ($2.85) to ($2.03). Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Crinetics Pharmaceuticals.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.05). Crinetics Pharmaceuticals had a negative net margin of 1,303.31% and a negative return on equity of 23.45%.
Separately, Zacks Investment Research raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, May 20th.
Shares of Crinetics Pharmaceuticals stock traded up $0.23 on Friday, reaching $18.29. The company’s stock had a trading volume of 21,280 shares, compared to its average volume of 67,542. The company has a market capitalization of $432.11 million and a price-to-earnings ratio of -8.20. The firm’s fifty day simple moving average is $22.31 and its two-hundred day simple moving average is $24.02. Crinetics Pharmaceuticals has a 52 week low of $17.32 and a 52 week high of $42.00. The company has a quick ratio of 18.04, a current ratio of 18.04 and a debt-to-equity ratio of 0.04.
In other news, insider Ventures Iv L.P. 5Am sold 250,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $22.20, for a total value of $5,550,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CRNX. BNP Paribas Arbitrage SA bought a new stake in Crinetics Pharmaceuticals during the first quarter worth approximately $42,000. Marshall Wace North America L.P. acquired a new stake in Crinetics Pharmaceuticals during the 1st quarter worth about $43,000. JPMorgan Chase & Co. grew its position in Crinetics Pharmaceuticals by 45.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,033 shares of the company’s stock worth $75,000 after purchasing an additional 946 shares during the period. Bank of America Corp DE grew its position in Crinetics Pharmaceuticals by 377.2% during the 4th quarter. Bank of America Corp DE now owns 5,932 shares of the company’s stock worth $179,000 after purchasing an additional 4,689 shares during the period. Finally, TD Asset Management Inc. acquired a new stake in Crinetics Pharmaceuticals during the 2nd quarter worth about $210,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.
About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is CRN00808, an oral selective nonpeptide somatostatin receptor type 2 biased agonist, which is in Phase I clinical trials used for the treatment of acromegaly.
Recommended Story: Liquidity
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Crinetics Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crinetics Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.