Svb Leerink Comments on Crinetics Pharmaceuticals Inc’s FY2023 Earnings (CRNX)

Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) – Investment analysts at Svb Leerink issued their FY2023 earnings estimates for shares of Crinetics Pharmaceuticals in a research note issued to investors on Thursday, March 14th. Svb Leerink analyst J. Schwartz anticipates that the company will post earnings per share of ($3.19) for the year.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Wednesday, March 13th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. The firm had revenue of $0.78 million for 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%.



Other equities research analysts have also issued research reports about the stock. Cantor Fitzgerald assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Monday. They set an “overweight” rating and a $40.00 target price on the stock. HC Wainwright assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Thursday, February 14th. They set a “buy” rating and a $35.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $37.20.

Shares of CRNX opened at $25.42 on Friday. Crinetics Pharmaceuticals has a 1-year low of $19.23 and a 1-year high of $42.00.

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

Large investors have recently bought and sold shares of the stock. Legal & General Group Plc bought a new stake in Crinetics Pharmaceuticals during the third quarter worth about $30,000. New York State Common Retirement Fund bought a new stake in Crinetics Pharmaceuticals during the fourth quarter worth about $123,000. American International Group Inc. bought a new stake in Crinetics Pharmaceuticals during the third quarter worth about $132,000. Bank of America Corp DE boosted its stake in Crinetics Pharmaceuticals by 377.2% during 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 in the last quarter. Finally, Rhumbline Advisers bought a new stake in Crinetics Pharmaceuticals during the fourth quarter worth about $254,000. 69.86% of the stock is currently owned by institutional investors and hedge funds.

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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