Brokers Set Expectations for Crinetics Pharmaceuticals, Inc.’s Q1 2023 Earnings (NASDAQ:CRNX)
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Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Get Rating) – Stock analysts at Lifesci Capital issued their Q1 2023 earnings per share estimates for Crinetics Pharmaceuticals in a research report issued on Monday, March 27th. Lifesci Capital analyst C. Jubinville anticipates that the company will post earnings per share of ($0.69) for the quarter. Lifesci Capital has a “Outperform” rating on the stock. The consensus estimate for Crinetics Pharmaceuticals’ current full-year earnings is ($3.46) per share. Lifesci Capital also issued estimates for Crinetics Pharmaceuticals’ Q2 2023 earnings at ($0.80) EPS, Q3 2023 earnings at ($0.72) EPS, Q4 2023 earnings at ($0.68) EPS and FY2023 earnings at ($2.73) EPS.
Other analysts have also issued reports about the stock. JMP Securities decreased their target price on shares of Crinetics Pharmaceuticals from $50.00 to $41.00 and set a “market outperform” rating on the stock in a research report on Wednesday, March 1st. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Crinetics Pharmaceuticals in a report on Wednesday, March 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Crinetics Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $38.33.
Crinetics Pharmaceuticals Stock Performance
Shares of CRNX stock opened at $15.31 on Wednesday. The firm has a fifty day moving average of $18.91 and a 200-day moving average of $18.31. The stock has a market cap of $825.36 million, a price-to-earnings ratio of -4.84 and a beta of 0.97. Crinetics Pharmaceuticals has a 52-week low of $15.23 and a 52-week high of $27.86.
Hedge Funds Weigh In On Crinetics Pharmaceuticals
Several institutional investors have recently bought and sold shares of CRNX. Great West Life Assurance Co. Can bought a new stake in shares of Crinetics Pharmaceuticals during the third quarter worth $29,000. High Net Worth Advisory Group LLC bought a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth about $39,000. Psagot Value Holdings Ltd. Israel acquired a new stake in Crinetics Pharmaceuticals in the 4th quarter valued at about $46,000. Bourgeon Capital Management LLC bought a new position in shares of Crinetics Pharmaceuticals in the fourth quarter worth about $48,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Crinetics Pharmaceuticals by 70.4% during the second quarter. Cubist Systematic Strategies LLC now owns 8,478 shares of the company’s stock worth $158,000 after purchasing an additional 3,503 shares in the last quarter. Institutional investors own 95.64% of the company’s stock.
Insider Activity
In related news, insider Stephen F. Betz sold 3,126 shares of the stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $18.00, for a total transaction of $56,268.00. Following the completion of the sale, the insider now owns 76,151 shares in the company, valued at approximately $1,370,718. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 3,126 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $18.00, for a total value of $56,268.00. Following the transaction, the insider now directly owns 76,151 shares in the company, valued at $1,370,718. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephen F. Betz sold 8,336 shares of the firm’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $21.07, for a total transaction of $175,639.52. Following the sale, the insider now directly owns 67,815 shares of the company’s stock, valued at approximately $1,428,862.05. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.
About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals, Inc operates as a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. Its product candidate, CRN00808, is an oral nonpeptide somatostatin agonist for the treatment of acromegaly.
Further Reading
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