FY2024 EPS Estimates for CRNX Raised by Cantor Fitzgerald

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) - Cantor Fitzgerald boosted their FY2024 EPS estimates for shares of Crinetics Pharmaceuticals in a research note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now forecasts that the company will earn ($3.69) per share for the year, up from their previous estimate of ($3.91). Cantor Fitzgerald has a "Overweight" rating and a $90.00 price objective on the stock. The consensus estimate for Crinetics Pharmaceuticals' current full-year earnings is ($3.75) per share.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) 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 period last year, the firm posted ($1.01) earnings per share.

Several other equities analysts have also weighed in on CRNX. JMP Securities reaffirmed a "market outperform" rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. HC Wainwright raised their price target on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Oppenheimer reiterated an "outperform" rating and issued a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. Finally, Citigroup increased their target price on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $70.18.

Crinetics Pharmaceuticals Stock Down 1.9 %

Shares of CRNX traded down $1.02 during midday trading on Monday, reaching $53.70. 769,960 shares of the stock were exchanged, compared to its average volume of 785,312. The company has a market cap of $4.98 billion, a price-to-earnings ratio of -14.40 and a beta of 0.62. Crinetics Pharmaceuticals has a 12-month low of $29.23 and a 12-month high of $62.53. The firm has a 50 day simple moving average of $55.00 and a 200-day simple moving average of $51.37.

Insider Transactions at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,557,337.41. This trade represents a 33.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen F. Betz sold 1,035 shares of the company's 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 completion of the transaction, the insider now directly owns 68,576 shares of the company's stock, valued at approximately $3,531,664. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,410 shares of company stock worth $2,275,929. Company insiders own 6.00% of the company's stock.

Institutional Trading of Crinetics Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Crinetics Pharmaceuticals by 3.3% during the second quarter. AQR Capital Management LLC now owns 7,126 shares of the company's stock worth $319,000 after buying an additional 227 shares in the last quarter. US Bancorp DE increased its stake in Crinetics Pharmaceuticals by 3.4% in the third quarter. US Bancorp DE now owns 11,488 shares of the company's stock valued at $587,000 after acquiring an additional 373 shares during the period. KBC Group NV raised its position 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 in the last quarter. Amalgamated Bank lifted its stake in Crinetics Pharmaceuticals by 20.8% during the second quarter. Amalgamated Bank now owns 2,692 shares of the company's stock worth $121,000 after purchasing an additional 464 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Crinetics Pharmaceuticals by 2.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company's stock valued at $1,054,000 after purchasing an additional 505 shares in the last quarter. Institutional investors and hedge funds own 98.51% 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.