Crinetics Pharmaceuticals Inc (CRNX) Forecasted to Post Q1 2020 Earnings of ($0.50) Per Share

Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) – Piper Jaffray Companies issued their Q1 2020 earnings per share (EPS) estimates for Crinetics Pharmaceuticals in a research note issued on Wednesday, March 13th. Piper Jaffray Companies analyst T. Van. Buren anticipates that the company will earn ($0.50) per share for the quarter. Piper Jaffray Companies also issued estimates for Crinetics Pharmaceuticals’ Q2 2020 earnings at ($0.60) EPS, Q3 2020 earnings at ($0.70) EPS and Q4 2020 earnings at ($0.75) EPS.

CRNX has been the subject of a number of other research reports. HC Wainwright assumed coverage on Crinetics Pharmaceuticals in a research report on Thursday, February 14th. They set a “buy” rating and a $35.00 price objective for the company. Cantor Fitzgerald assumed coverage on Crinetics Pharmaceuticals in a research report on Monday, March 11th. They set an “overweight” rating and a $40.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $37.20.

CRNX stock opened at $25.00 on Friday. Crinetics Pharmaceuticals has a twelve month low of $19.23 and a twelve month high of $42.00.

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

Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc bought a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter worth $30,000. New York State Common Retirement Fund bought a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter worth $123,000. American International Group Inc. bought a new stake in shares of Crinetics Pharmaceuticals in the third quarter worth $132,000. Bank of America Corp DE grew its holdings in shares of Crinetics Pharmaceuticals by 377.2% in the fourth quarter. Bank of America Corp DE now owns 5,932 shares of the company’s stock worth $179,000 after acquiring an additional 4,689 shares during the period. Finally, Rhumbline Advisers bought a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter worth $254,000. 69.86% of the stock is owned by institutional investors and hedge funds.

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

Crinetics Pharmaceuticals Company Profile

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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