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

Key Points

• Crinetics Pharmaceuticals reported quarterly EPS of ($1.23), missing expectations by $0.01, while revenue of $10.73 million came in above the $8.51 million consensus and surged year over year.
• PALSONIFY continues to gain commercial traction, with 232 new patient enrollment forms, $10.3 million in net product revenue, and an expanded prescriber base of 263; access and reimbursement coverage are also improving.
• The company’s pipeline remains active across multiple late-stage programs, including atumelnant and paltusotine, while Crinetics says it has about $1.3 billion in cash and runway into 2030 despite heavy R&D spending.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) released its earnings results on Thursday. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.01), FiscalAI reports. Crinetics Pharmaceuticals had a negative return on equity of 46.02% and a negative net margin of 2,747.18%.The company had revenue of $10.73 million during the quarter, compared to the consensus estimate of $8.51 million. During the same period in the previous year, the firm posted ($1.04) EPS. Crinetics Pharmaceuticals's revenue for the quarter 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%

Crinetics Pharmaceuticals stock traded down $6.01 during midday trading on Friday, reaching $37.48. 4,707,336 shares of the stock traded hands, compared to its average volume of 1,103,269. The firm has a fifty day moving average price of $38.41 and a two-hundred day moving average price of $43.89. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -7.31 and a beta of 0.28. Crinetics Pharmaceuticals has a fifty-two week low of $25.83 and a fifty-two week high of $57.99.

Analyst Ratings Changes

A number of brokerages recently weighed in on CRNX. Lifesci Capital raised shares of Crinetics Pharmaceuticals to a "strong-buy" rating in a research report on Friday, February 13th. Wall Street Zen downgraded shares of Crinetics Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Crinetics Pharmaceuticals in a research report on Monday, April 20th. Citizens Jmp lowered 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. Finally, The Goldman Sachs Group raised shares of Crinetics Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $67.00 price objective for the company in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $76.50.

Insider Activity

In other Crinetics Pharmaceuticals news, Director Coelho Rogerio Vivaldi sold 5,000 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $36.15, for a total transaction of $180,750.00. Following the completion of the transaction, the director directly owned 16,300 shares of the company's stock, valued at $589,245. The trade was a 23.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Tobin Schilke sold 6,713 shares of the business's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $39.67, for a total transaction of $266,304.71. Following the transaction, the chief financial officer directly owned 78,121 shares of the company's stock, valued at $3,099,060.07. The trade was a 7.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 142,380 shares of company stock worth $5,569,475 over the last three months. Insiders own 4.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in Crinetics Pharmaceuticals by 76.8% during the 4th quarter. Invesco Ltd. now owns 158,089 shares of the company's stock valued at $7,359,000 after purchasing an additional 68,696 shares during the period. ADAR1 Capital Management LLC boosted its stake in Crinetics Pharmaceuticals by 24.6% during the 4th quarter. ADAR1 Capital Management LLC now owns 309,368 shares of the company's stock valued at $14,401,000 after purchasing an additional 61,000 shares during the period. Virtus Investment Advisers LLC lifted its stake in shares of Crinetics Pharmaceuticals by 282.7% in the 4th quarter. Virtus Investment Advisers LLC now owns 13,535 shares of the company's stock worth $630,000 after acquiring an additional 9,998 shares during the period. Progeny 3 Inc. acquired a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter worth approximately $1,117,000. Finally, RTW Investments LP lifted its stake in shares of Crinetics Pharmaceuticals by 54.9% in the 4th quarter. RTW Investments LP now owns 1,351,326 shares of the company's stock worth $62,904,000 after acquiring an additional 478,939 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

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.

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