Crinetics Pharmaceuticals (NASDAQ:CRNX) posted its quarterly earnings data on Wednesday. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.06, Fidelity Earnings reports. Crinetics Pharmaceuticals had a negative return on equity of 78.81% and a negative net margin of 972.23%.
Shares of CRNX stock opened at $24.94 on Thursday. Crinetics Pharmaceuticals has a twelve month low of $19.23 and a twelve month high of $42.00.
A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Crinetics Pharmaceuticals from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 14th. HC Wainwright initiated coverage on Crinetics Pharmaceuticals in a report on Thursday, February 14th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Cantor Fitzgerald initiated coverage on Crinetics Pharmaceuticals in a report on Monday. They issued an “overweight” rating and a $40.00 target price for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $37.20.
A hedge fund recently raised its stake in Crinetics Pharmaceuticals stock. Geode Capital Management LLC lifted its stake in shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) by 25.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,653 shares of the company’s stock after purchasing an additional 15,538 shares during the period. Geode Capital Management LLC owned approximately 0.31% of Crinetics Pharmaceuticals worth $2,268,000 at the end of the most recent reporting period. Institutional investors own 69.86% 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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