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

Crinetics Pharmaceuticals (NASDAQ:CRNX) released its quarterly earnings data on Thursday. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $10.73 million for the quarter, compared to analyst estimates of $8.51 million. During the same quarter in the previous year, the company earned ($1.04) earnings per share. The company’s quarterly 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 Stock Down 13.8%

Shares of NASDAQ CRNX traded down $6.01 on Friday, hitting $37.48. The company had a trading volume of 4,707,336 shares, compared to its average volume of 1,103,269. Crinetics Pharmaceuticals has a 12-month low of $25.83 and a 12-month high of $57.99. The business has a 50 day moving average of $38.41 and a two-hundred day moving average of $43.89. The firm has a market capitalization of $3.95 billion, a P/E ratio of -7.31 and a beta of 0.28.

Analyst Ratings Changes

Several equities research analysts have commented on the company. The Goldman Sachs Group upgraded Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Monday, January 12th. Lifesci Capital upgraded Crinetics Pharmaceuticals to a “strong-buy” rating in a report on Friday, February 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Monday, April 20th. Wall Street Zen cut shares of Crinetics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, Citizens Jmp decreased 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 note on Friday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $76.50.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, Director Coelho Rogerio Vivaldi sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $36.15, for a total transaction of $180,750.00. Following the sale, the director owned 16,300 shares in the company, valued at $589,245. This trade represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard Scott Struthers sold 21,981 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $37.37, for a total transaction of $821,429.97. Following the transaction, the chief executive officer directly owned 404,778 shares in the company, valued at approximately $15,126,553.86. The trade was a 5.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 142,380 shares of company stock worth $5,569,475. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of Crinetics Pharmaceuticals by 107.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock worth $30,000 after acquiring an additional 331 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Crinetics Pharmaceuticals in the second quarter worth about $30,000. Parallel Advisors LLC boosted its holdings in Crinetics Pharmaceuticals by 34.6% in the fourth quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock valued at $57,000 after purchasing an additional 315 shares during the last quarter. Arax Advisory Partners grew its stake in Crinetics Pharmaceuticals by 131.2% during the 4th quarter. Arax Advisory Partners now owns 1,498 shares of the company’s stock valued at $70,000 after purchasing an additional 850 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Crinetics Pharmaceuticals during the 2nd quarter valued at approximately $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.