Crinetics Pharmaceuticals (NASDAQ:CRNX) announced its quarterly earnings results on Tuesday. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03), Bloomberg Earnings reports. Crinetics Pharmaceuticals had a negative net margin of 1,303.31% and a negative return on equity of 24.12%. The company had revenue of $0.51 million during the quarter, compared to analysts’ expectations of $0.33 million.
Shares of NASDAQ:CRNX traded up $0.27 on Wednesday, reaching $19.18. The company’s stock had a trading volume of 75,100 shares, compared to its average volume of 63,456. The stock’s 50-day moving average is $16.94 and its two-hundred day moving average is $20.93. Crinetics Pharmaceuticals has a 52-week low of $14.33 and a 52-week high of $36.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 19.07 and a quick ratio of 19.07. The stock has a market capitalization of $465.36 million, a P/E ratio of -8.60 and a beta of 0.88.
CRNX has been the subject of a number of research reports. Zacks Investment Research raised shares of Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. ValuEngine raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $34.33.
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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