Cantor Fitzgerald Weighs in on CRNX FY2025 Earnings

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) - Research analysts at Cantor Fitzgerald reduced their FY2025 EPS estimates for shares of Crinetics Pharmaceuticals in a report issued on Monday, May 12th. Cantor Fitzgerald analyst J. Schimmer now forecasts that the company will post earnings of ($4.54) per share for the year, down from their previous estimate of ($4.49). The consensus estimate for Crinetics Pharmaceuticals' current full-year earnings is ($3.73) per share.

A number of other brokerages also recently commented on CRNX. TD Cowen started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a "buy" rating on the stock. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a report on Wednesday, January 22nd. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They set a "peer perform" rating for the company. Finally, Stifel Nicolaus started coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They issued a "buy" rating and a $60.00 price target for the company. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Crinetics Pharmaceuticals Stock Down 7.1%

Shares of NASDAQ CRNX opened at $30.95 on Wednesday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -8.30 and a beta of 0.31. Crinetics Pharmaceuticals has a 52 week low of $24.10 and a 52 week high of $62.53. The firm has a 50-day simple moving average of $31.88 and a 200-day simple moving average of $42.08.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.05). The business had revenue of $0.36 million during the quarter, compared to the consensus estimate of $0.10 million. During the same period in the prior year, the business posted ($0.93) EPS. The company's quarterly revenue was down 43.6% compared to the same quarter last year.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Several large investors have recently modified their holdings of CRNX. FMR LLC increased its stake in shares of Crinetics Pharmaceuticals by 100.4% during the fourth quarter. FMR LLC now owns 8,928,086 shares of the company's stock worth $456,493,000 after acquiring an additional 4,472,316 shares during the period. Farallon Capital Management LLC increased its holdings in Crinetics Pharmaceuticals by 250.7% during the 4th quarter. Farallon Capital Management LLC now owns 4,075,098 shares of the company's stock valued at $208,360,000 after acquiring an additional 2,913,098 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Crinetics Pharmaceuticals by 44.6% during the 4th quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock worth $464,741,000 after purchasing an additional 2,801,736 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Crinetics Pharmaceuticals by 55.9% in the fourth quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company's stock worth $355,382,000 after acquiring an additional 2,490,876 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Crinetics Pharmaceuticals in the 1st quarter valued at about $18,881,000. Hedge funds and other institutional investors own 98.51% of the company's stock.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 7,162 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $244,940.40. Following the transaction, the chief operating officer now directly owns 87,491 shares in the company, valued at approximately $2,992,192.20. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Scott Struthers sold 17,338 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $592,959.60. Following the completion of the transaction, the chief executive officer now owns 329,147 shares in the company, valued at $11,256,827.40. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,015 shares of company stock worth $923,913 over the last 90 days. 6.00% of the stock is owned by insiders.

About Crinetics Pharmaceuticals

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.

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