Crinetics Pharmaceuticals Inc Down 3.98% To $28.35 After Earnings Miss

Crinetics Pharmaceuticals Inc (CRNX) said after close Tuesday that it lost $1.01 per share in quarter three 2023.

On the revenue line, the company reported $346 thousand, beating estimates by $226 thousand.

In the same quarter a year ago, the company lost $0.78 per share on revenue of $458 thousand.

The stock is down 3.98% to $28.35 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Crinetics Pharmaceuticals Inc a Neutral Sentiment Rank from InvestorsObserver.

Crinetics Pharmaceuticals Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 100, putting Crinetics Pharmaceuticals Inc in the top 25% of stocks. The firm was recently trading at a 52-week high of $31.41 on November 3, 2023 and set a 52-week low on March 28, 2023 at $15.23.

Crinetics Pharmaceuticals Inc is a clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors.