Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) Expected to Announce Earnings of -$0.54 Per Share
Analysts predict that Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) will report earnings per share of ($0.54) for the current quarter, Zacks reports. Three analysts have made estimates for Crinetics Pharmaceuticals’ earnings. The highest EPS estimate is ($0.51) and the lowest is ($0.55). Crinetics Pharmaceuticals posted earnings of ($0.38) per share in the same quarter last year, which would suggest a negative year over year growth rate of 42.1%. The business is expected to issue its next quarterly earnings results on Tuesday, November 12th.
On average, analysts expect that Crinetics Pharmaceuticals will report full year earnings of ($2.05) per share for the current fiscal year, with EPS estimates ranging from ($2.29) to ($1.90). For the next fiscal year, analysts forecast that the firm will post earnings of ($2.82) per share, with EPS estimates ranging from ($3.33) to ($2.35). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Crinetics Pharmaceuticals.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Tuesday, August 13th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.05). Crinetics Pharmaceuticals had a negative net margin of 1,303.31% and a negative return on equity of 24.12%.
NASDAQ CRNX traded up $0.09 during trading on Friday, reaching $19.23. 37,800 shares of the company’s stock traded hands, compared to its average volume of 63,762. The company has a debt-to-equity ratio of 0.04, a current ratio of 19.07 and a quick ratio of 19.07. Crinetics Pharmaceuticals has a 12-month low of $14.33 and a 12-month high of $36.95. The company’s 50 day simple moving average is $16.78 and its two-hundred day simple moving average is $21.01. The firm has a market cap of $454.48 million, a price-to-earnings ratio of -8.62 and a beta of 0.88.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orbimed Advisors LLC lifted its stake in Crinetics Pharmaceuticals by 6.5% during the 2nd quarter. Orbimed Advisors LLC now owns 2,039,282 shares of the company’s stock valued at $50,982,000 after acquiring an additional 125,000 shares during the period. BlackRock Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 19.9% during the 2nd quarter. BlackRock Inc. now owns 932,424 shares of the company’s stock valued at $23,312,000 after purchasing an additional 154,450 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 11.6% during the 2nd quarter. Vanguard Group Inc. now owns 504,539 shares of the company’s stock valued at $12,614,000 after purchasing an additional 52,327 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Crinetics Pharmaceuticals by 2.3% during the 2nd quarter. Janus Henderson Group PLC now owns 499,542 shares of the company’s stock valued at $12,489,000 after purchasing an additional 11,175 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Crinetics Pharmaceuticals by 0.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 487,916 shares of the company’s stock valued at $12,198,000 after purchasing an additional 1,786 shares in the last quarter. Institutional investors and hedge funds own 78.20% of the company’s stock.
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.
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