Brokerages forecast that Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) will report ($0.64) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Crinetics Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.82) and the highest estimate coming in at ($0.48). Crinetics Pharmaceuticals reported earnings of ($0.35) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 82.9%. The business is expected to issue its next earnings report on Wednesday, March 11th.
On average, analysts expect that Crinetics Pharmaceuticals will report full year earnings of ($2.14) per share for the current fiscal year, with EPS estimates ranging from ($2.30) to ($1.90). For the next year, analysts expect that the company will post earnings of ($2.78) per share, with EPS estimates ranging from ($3.12) to ($2.35). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Crinetics Pharmaceuticals.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Tuesday, November 12th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate 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 business had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.33 million.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its stake in Crinetics Pharmaceuticals by 441.4% during the third quarter. Tower Research Capital LLC TRC now owns 2,691 shares of the company’s stock worth $40,000 after purchasing an additional 2,194 shares during the period. Marshall Wace North America L.P. acquired a new stake in Crinetics Pharmaceuticals during the first quarter worth approximately $43,000. JPMorgan Chase & Co. grew its stake in Crinetics Pharmaceuticals by 45.3% during the second quarter. JPMorgan Chase & Co. now owns 3,033 shares of the company’s stock worth $75,000 after purchasing an additional 946 shares during the period. TD Asset Management Inc. acquired a new stake in Crinetics Pharmaceuticals during the second quarter worth approximately $210,000. Finally, Citadel Advisors LLC acquired a new stake in Crinetics Pharmaceuticals in the second quarter valued at approximately $295,000. 78.20% of the stock is owned by institutional investors and hedge funds.
NASDAQ CRNX traded up $0.19 during trading hours on Friday, hitting $18.56. 25,900 shares of the company’s stock were exchanged, compared to its average volume of 63,139. The stock has a 50-day simple moving average of $17.11 and a 200 day simple moving average of $20.83. Crinetics Pharmaceuticals has a 1-year low of $14.33 and a 1-year high of $36.95. The firm has a market cap of $457.62 million, a price-to-earnings ratio of -8.32 and a beta of 0.88. The company has a current ratio of 19.07, a quick ratio of 19.07 and a debt-to-equity ratio of 0.04.
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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