Crinetics Pharmaceuticals (NASDAQ:CRNX) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Crinetics Pharmaceuticals (NASDAQ:CRNX) issued its quarterly earnings data on Thursday. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04, Zacks reports.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock opened at $33.21 on Friday. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of -8.90 and a beta of 0.56. Crinetics Pharmaceuticals has a one year low of $31.84 and a one year high of $62.53. The company’s 50-day moving average is $41.53 and its 200 day moving average is $50.16.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. TD Cowen started coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. JMP Securities restated a “market outperform” rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Citigroup increased their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.64.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total value of $195,350.00. Following the completion of the sale, the insider now owns 31,748 shares of the company’s stock, valued at approximately $1,240,394.36. This trade represents a 13.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.00% of the company’s stock.

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.