Equities research analysts expect Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) to announce sales of $330,000.00 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Crinetics Pharmaceuticals’ earnings. The lowest sales estimate is $200,000.00 and the highest is $550,000.00. Crinetics Pharmaceuticals reported sales of $660,000.00 in the same quarter last year, which would suggest a negative year over year growth rate of 50%. The company is expected to announce its next quarterly earnings report on Thursday, August 29th.
On average, analysts expect that Crinetics Pharmaceuticals will report full-year sales of $1.18 million for the current fiscal year, with estimates ranging from $400,000.00 to $2.20 million. For the next fiscal year, analysts expect that the business will report sales of $0.00. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Crinetics Pharmaceuticals.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.04. The company had revenue of $0.37 million during the quarter, compared to the consensus estimate of $0.25 million. Crinetics Pharmaceuticals had a negative net margin of 1,303.31% and a negative return on equity of 26.96%.
Shares of CRNX stock traded down $0.13 during trading hours on Tuesday, hitting $25.45. 5 shares of the company were exchanged, compared to its average volume of 50,516. The company has a market cap of $608.77 million and a price-to-earnings ratio of -11.41. Crinetics Pharmaceuticals has a fifty-two week low of $19.23 and a fifty-two week high of $42.00. The company has a quick ratio of 21.03, a current ratio of 18.04 and a debt-to-equity ratio of 0.04.
In related news, major shareholder Vivo Capital Fund Viii, L.P. sold 417,000 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $22.25, for a total value of $9,278,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ventures Iv L.P. 5Am sold 154,839 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, March 18th. The shares were sold at an average price of $24.25, for a total transaction of $3,754,845.75. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its position in Crinetics Pharmaceuticals by 23.0% in the 1st quarter. FMR LLC now owns 3,614,288 shares of the company’s stock worth $82,262,000 after buying an additional 675,749 shares during the last quarter. Opaleye Management Inc. bought a new stake in Crinetics Pharmaceuticals in the 1st quarter worth approximately $1,661,000. Marshall Wace LLP bought a new stake in Crinetics Pharmaceuticals in the 1st quarter worth approximately $775,000. Charles Schwab Investment Management Inc. lifted its position in Crinetics Pharmaceuticals by 18.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,217 shares of the company’s stock worth $916,000 after buying an additional 6,343 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in Crinetics Pharmaceuticals in the 1st quarter worth approximately $43,000. 69.19% of the stock is 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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