In the last trading session, 1.29 million shares of the Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) were traded, and its beta was 0.63. Most recently the company’s share price was $46.81, and it changed around $2.38 or 5.36% from the last close, which brings the market valuation of the company to $3.65B. CRNX currently trades at a discount to its 52-week high of $47.58, offering almost -1.64% off that amount. The share price’s 52-week low was $15.23, which indicates that the current value has risen by an impressive 67.46% since then. We note from Crinetics Pharmaceuticals Inc’s average daily trading volume that its 10-day average is 1.15 million shares, with the 3-month average coming to 746.42K.
Crinetics Pharmaceuticals Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.21. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 recommended CRNX as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. Crinetics Pharmaceuticals Inc is expected to report earnings per share of -$0.81 for the current quarter.
Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) trade information
Instantly CRNX has showed a green trend with a performance of 5.36% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 31.56% year-to-date, but still up 4.09% over the last five days. On the other hand, Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) is 9.47% up in the 30-day period. We can see from the shorts that 5.01 million shares have been sold at a short interest cover period of 6.97 day(s).
The consensus price target as assigned by Wall Street analysts is $57.67, which translates to bulls needing to increase their stock price by 18.83% from its current value. Analyst projections state that CRNX is forecast to be at a low of $39 and a high of $80.
Crinetics Pharmaceuticals Inc (CRNX) estimates and forecasts
Crinetics Pharmaceuticals Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 67.00 percent over the past six months and at a 9.49% annual growth rate that is well above the industry average of 8.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 4.70% in revenue this quarter, and will report an increase of 14.90% in the next quarter. The year-over-year growth rate is expected to be -46.90%, down from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $260k in revenue for the current quarter. 9 analysts expect Crinetics Pharmaceuticals Inc to make $810k in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $2.68 million and $988k respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -90.30%. Forecasts for the next quarter put sales growth at -18.00%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -10.59%.
CRNX Dividends
Crinetics Pharmaceuticals Inc’s next quarterly earnings report is expected to be released around May 02 and May 06.
Crinetics Pharmaceuticals Inc (NASDAQ:CRNX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.92% of Crinetics Pharmaceuticals Inc shares, and 97.38% of them are in the hands of institutional investors. The stock currently has a share float of 99.28%. Crinetics Pharmaceuticals Inc stock is held by 264 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2023, it held 7.68% of the shares, which is about 5.35 million shares worth $250.2 million.
Driehaus Capital Management, LLC, with 7.24% or 5.04 million shares worth $235.92 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2024. The former held 2.13 million shares worth $99.87 million, making up 3.07% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.97 million shares worth around $92.22 million, which represents about 2.83% of the total shares outstanding.
