Brokerages expect that Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) will announce earnings per share (EPS) of ($0.60) for the current quarter, according to Zacks. Zero analysts have made estimates for Crinetics Pharmaceuticals’ earnings, with estimates ranging from ($0.67) to ($0.51). Crinetics Pharmaceuticals reported earnings of ($0.66) per share in the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The firm is scheduled to report its next quarterly earnings report on Tuesday, March 29th.
According to Zacks, analysts expect that Crinetics Pharmaceuticals will report full year earnings of ($2.71) per share for the current year, with EPS estimates ranging from ($2.79) to ($2.59). For the next fiscal year, analysts expect that the company will post earnings of ($2.54) per share, with EPS estimates ranging from ($2.73) to ($2.35). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Crinetics Pharmaceuticals.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Friday, November 5th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.01).
NASDAQ:CRNX traded up $0.38 during mid-day trading on Thursday, hitting $27.48. 494,348 shares of the company’s stock traded hands, compared to its average volume of 187,906. The firm’s 50 day moving average price is $23.59. Crinetics Pharmaceuticals has a 12 month low of $12.60 and a 12 month high of $28.78. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -9.88 and a beta of 1.37.
In related news, insider Stephen F. Betz sold 3,000 shares of the firm’s stock in a transaction on Wednesday, October 27th. The stock was sold at an average price of $24.00, for a total transaction of $72,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Perceptive Advisors Llc purchased 1,200,000 shares of the company’s stock in a transaction that occurred on Monday, October 25th. The shares were acquired at an average cost of $19.80 per share, with a total value of $23,760,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 71,210 shares of company stock valued at $1,830,004. 7.40% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in CRNX. Advisor Group Holdings Inc. increased its holdings in Crinetics Pharmaceuticals by 222.2% during the 2nd quarter. Advisor Group Holdings Inc. now owns 1,450 shares of the company’s stock valued at $27,000 after purchasing an additional 1,000 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Crinetics Pharmaceuticals by 215.0% in the 1st quarter. Royal Bank of Canada now owns 1,786 shares of the company’s stock valued at $27,000 after buying an additional 1,219 shares during the period. Great West Life Assurance Co. Can acquired a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at $42,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Crinetics Pharmaceuticals in the 1st quarter valued at $43,000. 85.05% of the stock is owned by hedge funds and other institutional investors.
Crinetics Pharmaceuticals Company Profile
Crinetics Pharmaceuticals, Inc operates as a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. Its product candidate, CRN00808, is an oral nonpeptide somatostatin agonist for the treatment of acromegaly.
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