Crinetics Pharmaceuticals (NASDAQ:CRNX) Releases Earnings Results, Misses Expectations By $0.01 EPS

Crinetics Pharmaceuticals (NASDAQ:CRNX) issued its quarterly earnings data on Thursday. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.01), FiscalAI reports. Crinetics Pharmaceuticals had a negative net margin of 2,747.18% and a negative return on equity of 46.02%. The business had revenue of $10.73 million for the quarter, compared to the consensus estimate of $8.51 million. During the same period in the previous year, the firm earned ($1.04) EPS. The company’s revenue was up 2873.4% on a year-over-year basis.

Here are the key takeaways from Crinetics Pharmaceuticals’ conference call:

• PALSONIFY showed early commercial traction with 232 new patient enrollment forms in Q1 and $10.3 million in net product revenue while the prescriber base expanded to 263 and treatment‑naive share rose to ~15%.
• Access momentum continues as ~70% of patients on therapy were reimbursed at quarter end, the company has achieved >60% formulary coverage and is targeting >75% by end of Q3, and most prior authorizations are being approved for 12 months.
• The clinical pipeline is advancing with multiple late‑stage programs actively enrolling — notably atumelnant (adult phase III and pediatric phase II/III CAH), paltusotine studies including carcinoid syndrome, and CRN09682 dose‑escalation — and interim CAH OLE data is expected later this year.
• Financially the company is investing heavily (Q1 R&D of $100.1 million; 2026 GAAP operating expense guidance of $600–650 million), but holds ~$1.3 billion in cash and says its runway extends into 2030.

Crinetics Pharmaceuticals Trading Down 13.8%

Shares of CRNX traded down $6.01 during trading hours on Friday, reaching $37.48. 4,707,336 shares of the stock traded hands, compared to its average volume of 1,103,269. Crinetics Pharmaceuticals has a 52-week low of $25.83 and a 52-week high of $57.99. The company’s 50-day moving average price is $38.41 and its two-hundred day moving average price is $43.89. The company has a market cap of $3.95 billion, a P/E ratio of -7.31 and a beta of 0.28.

Wall Street Analyst Weigh In

CRNX has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Crinetics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday. Lifesci Capital raised shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a research report on Friday, February 13th. Citizens Jmp cut their price objective on shares of Crinetics Pharmaceuticals from $97.00 to $95.00 and set a “market outperform” rating for the company in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Monday, April 20th. Finally, The Goldman Sachs Group upgraded shares of Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.50.

Insider Activity at Crinetics Pharmaceuticals

In related news, CEO Richard Scott Struthers sold 21,981 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, March 16th. The shares were sold at an average price of $37.37, for a total transaction of $821,429.97. Following the transaction, the chief executive officer owned 404,778 shares in the company, valued at approximately $15,126,553.86. The trade was a 5.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Coelho Rogerio Vivaldi sold 5,000 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $36.15, for a total transaction of $180,750.00. Following the completion of the sale, the director owned 16,300 shares in the company, valued at approximately $589,245. The trade was a 23.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 142,380 shares of company stock worth $5,569,475 in the last 90 days. Company insiders own 4.60% of the company’s stock.

Institutional Trading of Crinetics Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its stake in Crinetics Pharmaceuticals by 107.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock worth $30,000 after purchasing an additional 331 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Crinetics Pharmaceuticals in the 2nd quarter worth $30,000. Parallel Advisors LLC lifted its stake in Crinetics Pharmaceuticals by 34.6% in the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $57,000 after purchasing an additional 315 shares in the last quarter. Arax Advisory Partners lifted its stake in Crinetics Pharmaceuticals by 131.2% in the 4th quarter. Arax Advisory Partners now owns 1,498 shares of the company’s stock worth $70,000 after purchasing an additional 850 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Crinetics Pharmaceuticals in the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.