Cantor Fitzgerald Has Weak Forecast for CRNX FY2025 Earnings

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) – Analysts at Cantor Fitzgerald dropped their FY2025 earnings per share estimates for shares of Crinetics Pharmaceuticals in a research note issued to investors on Monday, May 12th. Cantor Fitzgerald analyst J. Schimmer now expects that the company will post earnings per share of ($4.54) for the year, down from their prior forecast of ($4.49). The consensus estimate for Crinetics Pharmaceuticals’ current full-year earnings is ($3.73) per share.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Thursday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.05). The company had revenue of $0.36 million during the quarter, compared to analyst estimates of $0.10 million. During the same period last year, the business earned ($0.93) EPS. The firm’s revenue for the quarter was down 43.6% compared to the same quarter last year.

CRNX has been the subject of a number of other reports. Stifel Nicolaus began coverage on Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They set a “buy” rating and a $60.00 price objective for the company. Wolfe Research began coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating for the company. TD Cowen began coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating for the company. Finally, Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Crinetics Pharmaceuticals Stock Up 1.1%

NASDAQ:CRNX opened at $31.29 on Wednesday. Crinetics Pharmaceuticals has a 1-year low of $24.10 and a 1-year high of $62.53. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -8.39 and a beta of 0.31. The stock has a fifty day simple moving average of $31.84 and a 200 day simple moving average of $42.01.

Institutional Trading of Crinetics Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRNX. Barclays PLC grew its holdings in Crinetics Pharmaceuticals by 75.5% in the 3rd quarter. Barclays PLC now owns 207,712 shares of the company’s stock valued at $10,614,000 after buying an additional 89,358 shares during the last quarter. Sanders Morris Harris LLC grew its holdings in Crinetics Pharmaceuticals by 13.4% in the 4th quarter. Sanders Morris Harris LLC now owns 21,100 shares of the company’s stock valued at $1,079,000 after buying an additional 2,500 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Crinetics Pharmaceuticals by 4,084.6% during the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock worth $27,735,000 after purchasing an additional 529,483 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Crinetics Pharmaceuticals by 13.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company’s stock valued at $254,000 after purchasing an additional 600 shares during the period. Finally, KBC Group NV increased its position in shares of Crinetics Pharmaceuticals by 69.3% during the fourth quarter. KBC Group NV now owns 3,712 shares of the company’s stock valued at $190,000 after purchasing an additional 1,519 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 7,162 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $244,940.40. Following the sale, the chief operating officer now owns 87,491 shares of the company’s stock, valued at $2,992,192.20. This trade represents a 7.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard Scott Struthers sold 17,338 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $592,959.60. Following the completion of the sale, the chief executive officer now directly owns 329,147 shares in the company, valued at $11,256,827.40. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,015 shares of company stock valued at $923,913. Corporate insiders own 6.00% 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 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.