Crinetics Pharmaceuticals (CRNX) Announces Earnings Results
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. The firm had revenue of $0.78 million during the quarter, compared to the consensus estimate of $0.32 million. Crinetics Pharmaceuticals had a negative net margin of 972.23% and a negative return on equity of 78.81%.
Shares of Crinetics Pharmaceuticals stock opened at $25.42 on Friday. Crinetics Pharmaceuticals has a 1-year low of $19.23 and a 1-year high of $42.00.
CRNX has been the subject of a number of recent research reports. HC Wainwright initiated coverage on shares of Crinetics Pharmaceuticals in a report on Thursday, February 14th. They issued a “buy” rating and a $35.00 price objective for the company. Cantor Fitzgerald initiated coverage on shares of Crinetics Pharmaceuticals in a report on Monday. They set an “overweight” rating and a $40.00 price target for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $37.20.
A hedge fund recently raised its stake in Crinetics Pharmaceuticals stock. Geode Capital Management LLC increased its stake in shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) by 25.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,653 shares of the company’s stock after purchasing 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. Hedge funds and other 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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