Crinetics Pharmaceuticals (NASDAQ:CRNX) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Crinetics Pharmaceuticals (NASDAQ:CRNX) issued its quarterly earnings data on Tuesday. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.05), Briefing.com reports. During the same period in the prior year, the company earned ($1.01) EPS.

Crinetics Pharmaceuticals Trading Down 2.0 %

Shares of NASDAQ CRNX opened at $58.78 on Wednesday. The firm’s 50-day moving average price is $54.58 and its 200-day moving average price is $51.04. Crinetics Pharmaceuticals has a 1-year low of $25.91 and a 1-year high of $62.00.

Insider Activity

In other news, CFO Marc Wilson sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the transaction, the chief financial officer now owns 111,092 shares in the company, valued at approximately $5,677,912.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Stephen F. Betz sold 1,035 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total value of $53,302.50. Following the sale, the insider now owns 68,576 shares in the company, valued at $3,531,664. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Marc Wilson sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the completion of the sale, the chief financial officer now owns 111,092 shares in the company, valued at $5,677,912.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,410 shares of company stock worth $2,275,929. Company insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CRNX. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. JMP Securities restated a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. HC Wainwright boosted their target price on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Oppenheimer restated an “outperform” rating and issued a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.55.

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.