Crinetics Pharmaceuticals Inc to Post FY2018 Earnings of ($1.95) Per Share, Piper Jaffray Companies Forecasts (CRNX)
Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) – Equities research analysts at Piper Jaffray Companies reduced their FY2018 earnings estimates for shares of Crinetics Pharmaceuticals in a research report issued on Tuesday, September 4th. Piper Jaffray Companies analyst T. Van. Buren now anticipates that the company will post earnings of ($1.95) per share for the year, down from their previous forecast of ($1.10). Piper Jaffray Companies currently has a “Overweight” rating and a $40.00 target price on the stock. Piper Jaffray Companies also issued estimates for Crinetics Pharmaceuticals’ Q4 2018 earnings at ($0.35) EPS, Q2 2019 earnings at ($0.45) EPS and FY2019 earnings at ($1.70) EPS.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, August 30th. The company reported ($2.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($2.12). The business had revenue of $0.66 million during the quarter, compared to analyst estimates of $0.09 million.
CRNX stock opened at $36.63 on Friday. Crinetics Pharmaceuticals has a 1-year low of $19.23 and a 1-year high of $37.72.
In other news, Director Life Sciences Maste Perceptive acquired 400,000 shares of the firm’s stock in a transaction dated Friday, July 20th. The shares were acquired at an average cost of $17.00 per share, with a total value of $6,800,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Alan Seth Krasner acquired 2,000 shares of the firm’s stock in a transaction dated Friday, July 20th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $34,000.00. The disclosure for this purchase can be found here. Insiders acquired a total of 755,180 shares of company stock valued at $13,410,212 over the last 90 days.
About Crinetics Pharmaceuticals
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.
Further Reading: Price to Earnings Ratio (PE) Basics
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