Crinetics Pharmaceuticals (NASDAQ:CRNX) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.96) earnings per share for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.05), Briefing.com reports. During the same period in the previous year, the company earned ($1.01) EPS.

Crinetics Pharmaceuticals Trading Up 0.2 %

CRNX stock traded up $0.14 during trading on Wednesday, reaching $58.92. 1,140,968 shares of the stock were exchanged, compared to its average volume of 784,497. The firm's 50 day moving average is $54.58 and its 200 day moving average is $51.04. The firm has a market cap of $4.72 billion, a P/E ratio of -16.01 and a beta of 0.62. Crinetics Pharmaceuticals has a twelve month low of $27.55 and a twelve month high of $62.00.

Wall Street Analyst Weigh In

Several research firms have commented on CRNX. HC Wainwright increased their target price on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a "buy" rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. JMP Securities reiterated a "market outperform" rating and set a $80.00 target price on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. Finally, Oppenheimer restated 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 analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.64.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 1,035 shares of the business's stock in a transaction on 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 sale, the insider now owns 68,576 shares in the company, valued at approximately $3,531,664. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Dana Pizzuti sold 14,375 shares of the firm's stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total value of $785,306.25. Following the transaction, the insider now owns 28,507 shares in the company, valued at $1,557,337.41. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen F. Betz sold 1,035 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total value of $53,302.50. Following the transaction, the insider now directly owns 68,576 shares in the company, valued at approximately $3,531,664. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,410 shares of company stock valued at $2,275,929. Company insiders own 6.00% of the company's stock.

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.