Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) – Equities research analysts at Piper Jaffray Companies issued their Q1 2020 earnings per share (EPS) estimates for Crinetics Pharmaceuticals in a note issued to investors on Wednesday, March 13th. Piper Jaffray Companies analyst T. Van. Buren forecasts that the company will post earnings per share of ($0.50) 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.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.06. The company had revenue of $0.78 million during the quarter, compared to the consensus estimate of $0.32 million. Crinetics Pharmaceuticals had a negative net margin of 972.23% and a negative return on equity of 78.81%.
Shares of CRNX opened at $25.42 on Friday. Crinetics Pharmaceuticals has a twelve month low of $19.23 and a twelve month high of $42.00.
In related 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 value of $5,735,907.64. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Crinetics Pharmaceuticals by 25.8% during the 4th quarter. Geode Capital Management LLC now owns 75,653 shares of the company’s stock valued at $2,268,000 after buying an additional 15,538 shares in the last quarter. FMR LLC grew its holdings in Crinetics Pharmaceuticals by 8.1% during the 4th quarter. FMR LLC now owns 2,938,539 shares of the company’s stock valued at $88,126,000 after purchasing an additional 220,701 shares during the last quarter. RA Capital Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 10.2% in the 4th quarter. RA Capital Management LLC now owns 1,875,209 shares of the company’s stock worth $56,238,000 after purchasing an additional 174,192 shares during the period. Bank of America Corp DE lifted its position 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 worth $179,000 after purchasing an additional 4,689 shares during the period. Finally, Emory University bought a new position in shares of Crinetics Pharmaceuticals during the 4th quarter worth approximately $2,577,000. Institutional investors and hedge funds own 69.86% of the company’s stock.
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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