Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Just Reported First-Quarter Earnings And Analysts Are Lifting Their Estimates

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) shareholders are probably feeling a little disappointed, since its shares fell 9.1% to US$37.48 in the week after its latest first-quarter results. Revenues came in 26% better than analyst models expected, at US$11mwhile statutory losses per share were US$1.23, in line with forecasts. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

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After the latest results, the twelve analysts covering Crinetics Pharmaceuticals are now predicting revenues of US$68.0m in 2026. If met, this would reflect a substantial 276% improvement in revenue compared to the last 12 months. Losses are expected to hold steady at around US$4.75. Before this latest report, the consensus had been expecting revenues of US$61.9m and US$4.82 per share in losses.

View our latest analysis for Crinetics Pharmaceuticals

There were no major changes to the US$83.43consensus price target despite the higher revenue estimates, with the analysts seeming to believe that ongoing losses have a larger impact on the valuation. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. There are some variant perceptions on Crinetics Pharmaceuticals, with the most bullish analyst valuing it at US$97.00 and the most bearish at US$55.00 per share. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

Of course, another way to look at these forecasts is to place them into context against the industry itself. The analysts are definitely expecting Crinetics Pharmaceuticals' growth to accelerate, with the forecast 5x annualised growth to the end of 2026 ranking favourably alongside historical growth of 29% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 8.7% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Crinetics Pharmaceuticals to grow faster than the wider industry.

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The Bottom Line

The most obvious conclusion is that the analysts made no changes to their forecasts for a loss next year. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have forecasts for Crinetics Pharmaceuticals going out to 2028, and you can see them free on our platform here.

You should always think about risks though. Case in point, we've spotted 1 warning sign for Crinetics Pharmaceuticals you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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