Brokers Set Expectations for Crinetics Pharmaceuticals Inc’s FY2019 Earnings (NASDAQ:CRNX)

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Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) – Analysts at Cantor Fitzgerald decreased their FY2019 earnings estimates for Crinetics Pharmaceuticals in a research note issued on Wednesday, August 14th. Cantor Fitzgerald analyst C. Duncan now anticipates that the company will post earnings per share of ($2.29) for the year, down from their prior forecast of ($2.26). Cantor Fitzgerald also issued estimates for Crinetics Pharmaceuticals’ FY2020 earnings at ($2.85) EPS.

Separately, Zacks Investment Research cut Crinetics Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 16th.

Shares of NASDAQ:CRNX opened at $18.87 on Monday. The stock has a market capitalization of $456.65 million and a price-to-earnings ratio of -8.46. The company has a debt-to-equity ratio of 0.04, a quick ratio of 19.07 and a current ratio of 19.07. The stock’s 50-day simple moving average is $21.71 and its two-hundred day simple moving average is $23.88. Crinetics Pharmaceuticals has a 52-week low of $17.32 and a 52-week high of $42.00.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Tuesday, August 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.05). Crinetics Pharmaceuticals had a negative return on equity of 24.12% and a negative net margin of 1,303.31%.

In other Crinetics Pharmaceuticals news, insider Ventures Iv L.P. 5Am sold 250,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $22.20, for a total value of $5,550,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 7.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of Crinetics Pharmaceuticals by 0.7% during the 4th quarter. Northern Trust Corp now owns 76,727 shares of the company’s stock valued at $2,301,000 after buying an additional 498 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Crinetics Pharmaceuticals by 45.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,033 shares of the company’s stock valued at $75,000 after buying an additional 946 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Crinetics Pharmaceuticals by 15.4% during the 1st quarter. Rhumbline Advisers now owns 9,776 shares of the company’s stock valued at $223,000 after buying an additional 1,301 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Crinetics Pharmaceuticals by 0.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 487,916 shares of the company’s stock valued at $12,198,000 after buying an additional 1,786 shares in the last quarter. Finally, BNP Paribas Arbitrage SA purchased a new position in shares of Crinetics Pharmaceuticals during the 1st quarter valued at about $42,000. 73.82% of the stock is currently owned by hedge funds and other institutional investors.

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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