Lifesci Capital Has Negative Outlook of CRNX FY2024 Earnings

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) – Investment analysts at Lifesci Capital lowered their FY2024 EPS estimates for shares of Crinetics Pharmaceuticals in a research note issued on Tuesday, November 12th. Lifesci Capital analyst C. Jubinville now expects that the company will earn ($3.80) per share for the year, down from their previous forecast of ($3.47). The consensus estimate for Crinetics Pharmaceuticals’ current full-year earnings is ($3.72) per share. Lifesci Capital also issued estimates for Crinetics Pharmaceuticals’ Q4 2024 earnings at ($0.97) EPS.

CRNX has been the topic of a number of other research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Citigroup increased their price objective on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday. HC Wainwright upped their price target on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JMP Securities restated a “market outperform” rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.18.

Crinetics Pharmaceuticals Stock Up 1.3 %

Shares of Crinetics Pharmaceuticals stock opened at $59.66 on Friday. The business’s fifty day simple moving average is $54.88 and its 200-day simple moving average is $51.15. Crinetics Pharmaceuticals has a 52 week low of $27.55 and a 52 week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period in the prior year, the firm posted ($1.01) earnings per share.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vestal Point Capital LP acquired a new position in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at $10,476,000. Martingale Asset Management L P acquired a new stake in shares of Crinetics Pharmaceuticals during the third quarter worth $1,128,000. PEAK6 Investments LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 25.0% in the third quarter. PEAK6 Investments LLC now owns 10,000 shares of the company’s stock valued at $511,000 after acquiring an additional 2,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Crinetics Pharmaceuticals by 4.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,747 shares of the company’s stock valued at $13,886,000 after purchasing an additional 10,767 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Crinetics Pharmaceuticals by 134.2% in the third quarter. BNP Paribas Financial Markets now owns 20,942 shares of the company’s stock valued at $1,070,000 after buying an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insiders Place Their Bets

In other news, insider Dana Pizzuti sold 14,375 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total value of $785,306.25. Following the sale, the insider now directly owns 28,507 shares in the company, valued at approximately $1,557,337.41. This trade represents a 33.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marc Wilson sold 25,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the transaction, the chief financial officer now owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. The trade was a 18.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,410 shares of company stock worth $2,275,929 in the last quarter. 6.00% of the stock is owned by company insiders.

Crinetics Pharmaceuticals Company Profile

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.