Equities research analysts forecast that Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) will post ($0.64) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Crinetics Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.48) and the lowest estimate coming in at ($0.82). Crinetics Pharmaceuticals posted earnings per share of ($0.35) in the same quarter last year, which would suggest a negative year over year growth rate of 82.9%. The company is expected to announce its next quarterly earnings report on Wednesday, March 11th.
According to Zacks, analysts expect that Crinetics Pharmaceuticals will report full-year earnings of ($2.14) per share for the current year, with EPS estimates ranging from ($2.30) to ($1.90). For the next year, analysts anticipate that the firm will report earnings of ($2.78) per share, with EPS estimates ranging from ($3.12) to ($2.35). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Crinetics Pharmaceuticals.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03). Crinetics Pharmaceuticals had a negative return on equity of 29.27% and a negative net margin of 1,303.31%. The company had revenue of $0.51 million during the quarter, compared to the consensus estimate of $0.33 million.
Several equities analysts recently issued reports on CRNX shares. ValuEngine raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th.
Shares of CRNX traded up $0.19 during mid-day trading on Friday, reaching $18.56. The company had a trading volume of 25,900 shares, compared to its average volume of 63,139. The company has a market capitalization of $457.62 million, a price-to-earnings ratio of -8.32 and a beta of 0.88. Crinetics Pharmaceuticals has a 52 week low of $14.33 and a 52 week high of $36.95. 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 firm has a 50-day moving average price of $17.11 and a 200 day moving average price of $20.83.
Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. bought a new position in Crinetics Pharmaceuticals in the 1st quarter valued at approximately $43,000. Tower Research Capital LLC TRC lifted its position in Crinetics Pharmaceuticals by 441.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,691 shares of the company’s stock valued at $40,000 after acquiring an additional 2,194 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Crinetics Pharmaceuticals by 45.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,033 shares of the company’s stock valued at $75,000 after acquiring an additional 946 shares in the last quarter. TD Asset Management Inc. bought a new position in Crinetics Pharmaceuticals in the 2nd quarter valued at approximately $210,000. Finally, Citadel Advisors LLC bought a new position in Crinetics Pharmaceuticals in the 2nd quarter valued at approximately $295,000. 78.20% of the stock is currently owned by institutional investors and hedge funds.
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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