Crinetics Pharmaceuticals Inc (CRNX) to Post FY2019 Earnings of ($2.38) Per Share, Cantor Fitzgerald Forecasts

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Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) – Analysts at Cantor Fitzgerald issued their FY2019 earnings estimates for shares of Crinetics Pharmaceuticals in a report issued on Tuesday, March 12th. Cantor Fitzgerald analyst C. Duncan expects that the company will post earnings per share of ($2.38) for the year. Cantor Fitzgerald has a “Overweight” rating and a $40.00 price objective on the stock.

Separately, HC Wainwright began coverage on shares of Crinetics Pharmaceuticals in a report on Thursday, February 14th. They set a “buy” rating and a $35.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $37.20.

Crinetics Pharmaceuticals stock opened at $25.00 on Friday. Crinetics Pharmaceuticals has a 52-week low of $19.23 and a 52-week high of $42.00.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Wednesday, March 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. The business had revenue of $0.78 million during the quarter, compared to analyst estimates of $0.32 million. Crinetics Pharmaceuticals had a negative net margin of 972.23% and a negative return on equity of 78.81%.

Institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp increased its stake in shares of Crinetics Pharmaceuticals by 0.7% in the 4th quarter. Northern Trust Corp now owns 76,727 shares of the company’s stock valued at $2,301,000 after acquiring an additional 498 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at $30,000. New York State Common Retirement Fund bought a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter valued at $123,000. American International Group Inc. bought a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at $132,000. Finally, Bank of America Corp DE increased its stake in shares of Crinetics Pharmaceuticals by 377.2% in the 4th quarter. Bank of America Corp DE now owns 5,932 shares of the company’s stock valued at $179,000 after acquiring an additional 4,689 shares in the last quarter. Hedge funds and other institutional investors own 69.86% of the company’s stock.

In other Crinetics Pharmaceuticals news, major shareholder Ventures Iv L.P. 5Am sold 262,153 shares of the firm’s stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $21.88, for a total transaction of $5,735,907.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

About Crinetics Pharmaceuticals

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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Earnings History and Estimates for Crinetics Pharmaceuticals (NASDAQ:CRNX)

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