What is HC Wainwright’s Forecast for CRNX FY2028 Earnings?

by · The Markets Daily

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Free Report) – Equities researchers at HC Wainwright dropped their FY2028 earnings per share (EPS) estimates for shares of Crinetics Pharmaceuticals in a research report issued to clients and investors on Sunday, December 14th. HC Wainwright analyst D. Tsao now expects that the company will earn $0.97 per share for the year, down from their prior forecast of $0.99. The consensus estimate for Crinetics Pharmaceuticals’ current full-year earnings is ($3.73) per share. HC Wainwright also issued estimates for Crinetics Pharmaceuticals’ FY2029 earnings at $8.79 EPS.

Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.11). The firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.39 million. During the same quarter in the previous year, the business earned ($0.96) earnings per share.

CRNX has been the subject of several other reports. The Goldman Sachs Group upped their price objective on shares of Crinetics Pharmaceuticals from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 26th. Morgan Stanley boosted their price target on shares of Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Oppenheimer increased their price target on shares of Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. JPMorgan Chase & Co. lowered their price objective on shares of Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. Finally, Leerink Partners upped their target price on Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.55.

Get Our Latest Analysis on Crinetics Pharmaceuticals

Crinetics Pharmaceuticals Stock Down 1.9%

Shares of CRNX stock opened at $47.69 on Tuesday. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of -10.53 and a beta of 0.20. The stock has a fifty day moving average of $44.26 and a 200 day moving average of $36.57. Crinetics Pharmaceuticals has a 52 week low of $24.10 and a 52 week high of $55.47.

Insider Buying and Selling

In other news, Director Matthew K. Fust sold 16,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $44.75, for a total transaction of $716,000.00. Following the completion of the transaction, the director directly owned 22,836 shares in the company, valued at approximately $1,021,911. This trade represents a 41.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dana Pizzuti sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $42.66, for a total value of $213,300.00. Following the completion of the sale, the insider directly owned 66,270 shares in the company, valued at approximately $2,827,078.20. This represents a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,000 shares of company stock valued at $1,318,350 over the last quarter. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CRNX. PNC Financial Services Group Inc. boosted its holdings in Crinetics Pharmaceuticals by 25.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,395 shares of the company’s stock worth $114,000 after acquiring an additional 688 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 2.4% during the first quarter. Vanguard Group Inc. now owns 9,311,600 shares of the company’s stock valued at $312,311,000 after acquiring an additional 222,209 shares in the last quarter. Swiss National Bank raised its position in shares of Crinetics Pharmaceuticals by 1.5% in the 1st quarter. Swiss National Bank now owns 161,800 shares of the company’s stock worth $5,427,000 after purchasing an additional 2,400 shares during the last quarter. Nuveen LLC bought a new position in Crinetics Pharmaceuticals in the 1st quarter worth about $18,881,000. Finally, Russell Investments Group Ltd. boosted its stake in Crinetics Pharmaceuticals by 386.4% in the 1st quarter. Russell Investments Group Ltd. now owns 166,338 shares of the company’s stock worth $5,579,000 after purchasing an additional 132,138 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Company Profile

(Get Free Report)

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.

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