Crinetics Pharmaceuticals, Inc. CRNX shares rallied 98.7% in the last trading session to close at $83.53. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock’s 25.5% gain over the past four weeks.
The upside came after the company announced that it is being acquired by large-cap biotech Vertex Pharmaceuticals for about $10 billion. The deal is expected to close in the third quarter of 2026.
This company is expected to post quarterly loss of $1.23 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $14.84 million, up 1340.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For CRINETICS PHARM, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CRNX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
CRINETICS PHARM is part of the Zacks Medical – Drugs industry. ARS Pharmaceuticals, Inc. SPRY, another stock in the same industry, closed the last trading session 1.7% lower at $8.19. SPRY has returned -7.3% in the past month.
ARS Pharmaceuticals, Inc.’s consensus EPS estimate for the upcoming report has changed +8.6% over the past month to -$0.55. Compared to the company’s year-ago EPS, this represents a change of -19.6%. ARS Pharmaceuticals, Inc. currently boasts a Zacks Rank of #3 (Hold).
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This article originally published on Zacks Investment Research (zacks.com).
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