Equities analysts expect that Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) will post sales of $300,000.00 for the current quarter, according to Zacks. Three analysts have issued estimates for Crinetics Pharmaceuticals’ earnings. The highest sales estimate is $550,000.00 and the lowest is $100,000.00. Crinetics Pharmaceuticals posted sales of $780,000.00 in the same quarter last year, which would indicate a negative year over year growth rate of 61.5%. The firm is expected to report its next earnings report on Wednesday, March 11th.
According to Zacks, analysts expect that Crinetics Pharmaceuticals will report full year sales of $1.11 million for the current year, with estimates ranging from $900,000.00 to $1.42 million. For the next fiscal year, analysts anticipate that the firm will post sales of $0.00. Zacks’ sales averages are an average based on a survey of analysts that cover Crinetics Pharmaceuticals.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Tuesday, November 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03). Crinetics Pharmaceuticals had a negative net margin of 1,303.31% and a negative return on equity of 30.38%. The business had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.33 million.
A number of research analysts have issued reports on CRNX shares. ValuEngine upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of Crinetics Pharmaceuticals in a research report on Thursday, November 21st. Finally, Zacks Investment Research raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th.
Several hedge funds have recently made changes to their positions in the company. Orbimed Advisors LLC increased its stake in shares of Crinetics Pharmaceuticals by 6.5% in the 2nd quarter. Orbimed Advisors LLC now owns 2,039,282 shares of the company’s stock valued at $50,982,000 after acquiring an additional 125,000 shares during the last quarter. Eventide Asset Management LLC increased its stake in shares of Crinetics Pharmaceuticals by 17.8% in the 3rd quarter. Eventide Asset Management LLC now owns 947,000 shares of the company’s stock valued at $14,243,000 after acquiring an additional 143,161 shares during the last quarter. BlackRock Inc. increased its stake in shares of Crinetics Pharmaceuticals by 19.9% in the 2nd quarter. BlackRock Inc. now owns 932,424 shares of the company’s stock valued at $23,312,000 after acquiring an additional 154,450 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Crinetics Pharmaceuticals by 11.6% in the 2nd quarter. Vanguard Group Inc. now owns 504,539 shares of the company’s stock valued at $12,614,000 after acquiring an additional 52,327 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Crinetics Pharmaceuticals by 2.3% in the 2nd quarter. Janus Henderson Group PLC now owns 499,542 shares of the company’s stock valued at $12,489,000 after acquiring an additional 11,175 shares during the last quarter. 76.84% of the stock is owned by institutional investors.
Crinetics Pharmaceuticals stock traded up $1.05 during trading hours on Thursday, reaching $21.39. 103,028 shares of the company’s stock traded hands, compared to its average volume of 62,514. The company has a debt-to-equity ratio of 0.04, a quick ratio of 17.18 and a current ratio of 17.18. Crinetics Pharmaceuticals has a fifty-two week low of $14.33 and a fifty-two week high of $35.70. The firm has a market capitalization of $493.41 million, a price-to-earnings ratio of -9.59 and a beta of 0.95. The firm’s 50 day moving average is $18.73 and its 200-day moving average is $20.02.
Crinetics Pharmaceuticals Company Profile
Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is CRN00808, an oral selective nonpeptide somatostatin receptor type 2 biased agonist, which is in Phase I clinical trials used for the treatment of acromegaly.
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