Crinetics Pharmaceuticals (NASDAQ:CRNX) posted its quarterly earnings data on Monday. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.04, Fidelity Earnings reports. The company had revenue of $0.37 million for the quarter, compared to analyst estimates of $0.25 million. Crinetics Pharmaceuticals had a negative return on equity of 30.41% and a negative net margin of 1,303.31%.
CRNX stock opened at $25.39 on Wednesday. The firm has a market cap of $607.38 million and a PE ratio of -11.39. Crinetics Pharmaceuticals has a twelve month low of $19.23 and a twelve month high of $42.00.
CRNX has been the topic of a number of recent analyst reports. HC Wainwright initiated coverage on Crinetics Pharmaceuticals in a research note on Thursday, February 14th. They issued a “buy” rating and a $35.00 price objective on the stock. Cantor Fitzgerald initiated coverage on Crinetics Pharmaceuticals in a research note on Monday, March 11th. They issued an “overweight” rating and a $40.00 price objective on the stock. Finally, Zacks Investment Research lowered Crinetics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $37.20.
An institutional investor recently raised its position in Crinetics Pharmaceuticals stock. Geode Capital Management LLC lifted its position in shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) by 25.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,653 shares of the company’s stock after acquiring an additional 15,538 shares during the quarter. 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 69.19% of the company’s stock.
Crinetics Pharmaceuticals Company Profile
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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