Crinetics Pharmaceuticals (NASDAQ:CRNX) Releases Quarterly Earnings Results

Crinetics Pharmaceuticals (NASDAQ:CRNX) released its quarterly earnings results on Tuesday. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05), Briefing.com reports. During the same quarter last year, the company posted ($1.01) EPS.

Crinetics Pharmaceuticals Stock Up 1.3 %

NASDAQ:CRNX opened at $59.66 on Friday. The firm’s fifty day moving average is $54.88 and its two-hundred day moving average is $51.15. Crinetics Pharmaceuticals has a one year low of $27.55 and a one year high of $62.53.

Insider Activity

In other news, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total transaction of $785,306.25. Following the sale, the insider now directly owns 28,507 shares of the company’s stock, valued at $1,557,337.41. This represents a 33.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Marc Wilson sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total value of $1,277,750.00. Following the transaction, the chief financial officer now owns 111,092 shares in the company, valued at $5,677,912.12. This represents a 18.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,410 shares of company stock valued at $2,275,929 in the last quarter. 6.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CRNX shares. Citigroup increased their target price on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. JMP Securities restated a “market outperform” rating and set a $80.00 target price on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. HC Wainwright boosted their price target on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.18.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.