Zacks: Brokerages Anticipate Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) Will Post Earnings of -$0.64 Per Share

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.

Several equities research analysts recently commented on CRNX shares. Zacks Investment Research raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. ValuEngine raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd.

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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Earnings History and Estimates for Crinetics Pharmaceuticals (NASDAQ:CRNX)

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