What is Leerink Partnrs’ Forecast for CRNX FY2024 Earnings?

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) – Analysts at Leerink Partnrs boosted their FY2024 EPS estimates for Crinetics Pharmaceuticals in a research note issued to investors on Wednesday, November 13th. Leerink Partnrs analyst J. Schwartz now anticipates that the company will earn ($3.61) per share for the year, up from their previous forecast of ($3.72). The consensus estimate for Crinetics Pharmaceuticals’ current full-year earnings is ($3.75) per share. Leerink Partnrs also issued estimates for Crinetics Pharmaceuticals’ Q4 2024 earnings at ($0.80) EPS, Q1 2025 earnings at ($0.89) EPS, Q2 2025 earnings at ($0.99) EPS, Q3 2025 earnings at ($1.12) EPS, Q4 2025 earnings at ($1.21) EPS, FY2025 earnings at ($4.21) EPS and FY2026 earnings at ($5.05) EPS.

A number of other research analysts also recently commented on CRNX. Oppenheimer reiterated an “outperform” rating and set a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. Citigroup lifted their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. HC Wainwright increased their target price on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $80.00 price target on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.18.

Crinetics Pharmaceuticals Stock Performance

NASDAQ:CRNX opened at $53.70 on Monday. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of -14.40 and a beta of 0.62. Crinetics Pharmaceuticals has a one year low of $29.23 and a one year high of $62.53. The business’s 50-day simple moving average is $55.00 and its 200 day simple moving average is $51.37.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same period in the previous year, the firm posted ($1.01) earnings per share.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of Crinetics Pharmaceuticals by 3.3% in the 2nd quarter. AQR Capital Management LLC now owns 7,126 shares of the company’s stock valued at $319,000 after buying an additional 227 shares in the last quarter. US Bancorp DE lifted its stake in Crinetics Pharmaceuticals by 3.4% during the third quarter. US Bancorp DE now owns 11,488 shares of the company’s stock worth $587,000 after purchasing an additional 373 shares during the period. KBC Group NV boosted its holdings in Crinetics Pharmaceuticals by 22.8% during the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after purchasing an additional 407 shares in the last quarter. Amalgamated Bank grew its stake in shares of Crinetics Pharmaceuticals by 20.8% in the 2nd quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock valued at $121,000 after purchasing an additional 464 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Crinetics Pharmaceuticals by 2.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company’s stock worth $1,054,000 after buying an additional 505 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total transaction of $785,306.25. Following the transaction, the insider now owns 28,507 shares in the company, valued at $1,557,337.41. This trade represents a 33.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marc Wilson sold 25,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the transaction, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. This represents a 18.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,410 shares of company stock worth $2,275,929 over the last ninety days. 6.00% of the stock is currently owned by insiders.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.