Crinetics Pharmaceuticals (CRNX) AI Stock Analysis

• Market Cap: $5.68B
• Dividend Yield: N/A
• Average Volume (3M): 1.33M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.49
• Revenue Growth: N/A
• EPS Growth: -21.96%
• Country: US
• Employees: 437
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.38
• Shares Outstanding: 102,511,840
• 10 Day Avg. Volume: 2,135,157
• 30 Day Avg. Volume: 1,329,748
• PEG Ratio: 0.00
• Price to Book (P/B): 3.12
• Price to Sales (P/S): 3975.39
• P/FCF Ratio: -17.97
• Enterprise Value/Market Cap: 0.68
• Enterprise Value/Revenue: 2.52K
• Enterprise Value/Gross Profit: 2.52K
• Enterprise Value/Ebitda: -8.15
• 1Y Price Target: $88.64
• Price Target Upside: 59.94% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12
• EPS Forecast (FY): -5.19
• Revenue Forecast (FY): $58.99M

• Rating: 64 Neutral
• Price Target: $59.00 ▲(6.46% Upside)

The score is driven primarily by weak current financial performance (large losses and heavy cash burn) despite a strong balance sheet, partially offset by strong technical uptrend signals and notably positive launch/guidance commentary around PALSONIFY and liquidity runway. Valuation remains challenged due to negative earnings, and recent financing improves funding capacity but introduces dilution.

Positive Factors

Strong liquidity runway

A >$1B cash position and management guidance that cash funds operations into 2029 materially reduces near-term financing pressure. This durable liquidity lets Crinetics invest in commercialization, clinical trials, and manufacturing scale without immediate dependence on dilutive raises.

Early commercial traction for PALSONIFY

Rapid patient starts, high share of switchers, and engaged prescribers indicate tangible product-market fit and commercial execution. Durable prescriber adoption and straightforward prior authorizations support a sustainable revenue ramp as the company scales sales and payer relationships over the next several quarters.

Pipeline breadth and positive clinical signals

Positive Phase 2 data and multiple programs (atumelnant, CRN09682, paltusotine indications) diversify long-term value drivers beyond one product. Successful mid-stage results increase probability of later-stage success and potential label expansion, strengthening durable growth optionality for the business.

Negative Factors

High cash burn

Sustained ~-$350M annual cash burn is a structural risk: even with strong cash reserves, continued high outflows force ongoing financing or rapid commercial success. If commercialization or clinical progress slows, funding needs could increase, pressuring strategy and shareholder dilution over the medium term.

Revenue nascent vs large losses

With negligible current revenue versus substantial operating losses, the company remains far from scaled commercial profitability. Long-term value depends on converting early launch momentum into sustainable sales growth; failure to do so would prolong funding dependence and compress long-term returns.

Delays in key development programs

Delays in the Graves' disease TSH candidate and the SST3 agonist program slow pipeline maturation and potential new revenue streams. These setbacks raise program risk, shift development timelines, and could compress long-term upside if backup molecules or remedial studies take substantial time or resources.

Crinetics Pharmaceuticals Business Overview & Revenue Model

Company Description

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 Paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist that has completed phase III clinical trial for the treatment of acromegaly, as well as completed phase II clinical trial to treat carcinoid syndrome and nonfunctional neuroendocrine tumors (NETs). The company is also developing CRN04777, an oral selective nonpeptide somatostatin type 5 receptor agonist, which is in phase I clinical trial for the treatment of congenital hyperinsulinism; and CRN04894, an oral adrenocorticotrophic hormone antagonist that is in phase I clinical trial for the treatment of Cushing's and congenital adrenal hyperplasia diseases. Crinetics Pharmaceuticals, Inc. was incorporated in 2008 and is headquartered in San Diego, California.

How the Company Makes Money

Crinetics Pharmaceuticals generates revenue through a combination of grants, collaborations, and potential product sales. The company typically engages in strategic partnerships with larger pharmaceutical companies to co-develop its drug candidates, which can provide upfront payments and milestone payments as clinical and regulatory milestones are achieved. Additionally, once products receive regulatory approval, the company can earn revenue through sales in the market. Moreover, Crinetics may also receive royalties from its partners based on sales of products developed through their collaborations, thereby diversifying its revenue streams.

Crinetics Pharmaceuticals Financial Statement Overview

Summary

Crinetics Pharmaceuticals faces significant financial challenges, with persistent operational losses and cash flow issues. While recent financing has strengthened the cash position, the company's ability to generate sustainable revenue and profit remains unproven. The balance sheet shows improvement, but historical financial instability highlights the need for caution.

Income Statement

Crinetics Pharmaceuticals has experienced fluctuating revenue with a decline from 2022 to 2023, followed by a sharp drop in 2024. The gross profit margin is consistently high, but net losses persist, indicating ongoing profitability challenges. Negative EBIT and EBITDA margins reflect operational inefficiencies.

Balance Sheet

The company shows a strong equity position with substantial cash reserves and minimal debt. However, negative stockholders' equity in earlier years indicates past financial distress. Current liabilities are relatively low, but the debt-to-equity ratio is a concern due to historical negative equity.

Cash Flow

Operating cash flow remains negative, highlighting potential liquidity challenges. Free cash flow is also consistently negative, though recent financing activities have bolstered cash reserves. Stability in cash flow remains a concern with ongoing operational losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.53M	1.04M	4.01M	4.74M	1.08M	71.00K
Gross Profit	1.53M	1.04M	4.01M	4.74M	1.08M	-56.93M
EBITDA	-474.16M	-336.07M	-221.51M	-166.90M	-106.78M	-74.00M
Net Income	-423.10M	-298.41M	-214.53M	-163.92M	-107.64M	-73.81M
Balance Sheet
Total Assets	1.20B	1.43B	635.35M	352.18M	351.01M	183.44M
Cash, Cash Equivalents and Short-Term Investments	1.09B	1.35B	558.55M	334.43M	333.71M	170.88M
Total Debt	49.14M	51.72M	51.73M	3.08M	3.07M	4.01M
Total Liabilities	123.86M	109.79M	96.25M	35.85M	19.07M	14.53M
Stockholders Equity	1.07B	1.32B	539.11M	316.33M	331.94M	168.92M
Cash Flow
Free Cash Flow	-356.03M	-229.81M	-171.00M	-116.86M	-89.02M	-62.21M
Operating Cash Flow	-349.69M	-225.97M	-166.31M	-115.20M	-88.59M	-62.03M
Investing Cash Flow	-425.29M	-574.82M	-200.41M	-173.98M	-56.48M	217.00K
Financing Cash Flow	568.61M	1.01B	388.94M	121.96M	252.68M	114.57M

Crinetics Pharmaceuticals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 55.42
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRNX, the sentiment is Positive. The current price of 55.42 is above the 20-day moving average (MA) of 49.57, above the 50-day MA of 46.65, and above the 200-day MA of 36.55, indicating a bullish trend. The MACD of 2.16 indicates Negative momentum. The RSI at 67.75 is Neutral, neither overbought nor oversold. The STOCH value of 79.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CRNX.

Crinetics Pharmaceuticals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CRNX	64 Neutral	$5.68B	-12.22	-44.42%	―	―	-21.96%
LGND	63 Neutral	$3.87B	94.60	5.42%	―	64.83%	-9.12%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
APLS	50 Neutral	$2.57B	68.47	14.10%	―	42.11%	―
KYMR	50 Neutral	$5.94B	-20.91	-32.09%	―	-50.05%	-54.47%
RARE	46 Neutral	$2.32B	-4.05	-325.76%	―	20.63%	8.09%

Crinetics Pharmaceuticals Corporate Events

Crinetics Highlights Breakout Year and Strong Endocrinology Pipeline

On January 13, 2026, Crinetics Pharmaceuticals’ founder and CEO Scott Struthers presented a company update at the 44th annual J.P. Morgan Healthcare Conference in San Francisco, highlighting 2025 as a breakout year in which the company launched PALSONIFY (paltusotine) commercially in the U.S., reported early signs of market uptake, and advanced its strategy to become a leading endocrinology-focused pharmaceutical business. The update emphasized a late-stage pipeline of potentially transformative assets, including paltusotine for additional indications such as carcinoid syndrome, atumelnant for adult and pediatric congenital adrenal hyperplasia and ACTH-dependent Cushing’s syndrome, and CRN09682 for neuroendocrine and other SST2+ tumors, supported by positive Phase 2 data, initiation of multiple Phase 3 and Phase 1/2 studies, and a strong preliminary and unaudited liquidity position of roughly $1.4 billion in cash, cash equivalents and investments as of early January 2026, positioning the company to fund operations and development programs well into the next decade.

The most recent analyst rating on (CRNX) stock is a Buy with a $67.00 price target. To see the full list of analyst forecasts on Crinetics Pharmaceuticals stock, see the CRNX Stock Forecast page.

Crinetics Announces Major Public Offering to Fund Growth

On January 6, 2026, Crinetics Pharmaceuticals entered into an underwriting agreement with a syndicate led by Leerink Partners and J.P. Morgan Securities for an underwritten public offering of 7,620,000 shares of common stock at a public price of $45.95 per share, with underwriters purchasing at $43.42275 per share. The deal, which includes a 30-day option for underwriters to buy up to an additional 1,143,000 shares, is expected to close on January 8, 2026 and is expected to generate approximately $330.2 million in net proceeds, or about $379.8 million if the option is fully exercised, providing Crinetics with substantial capital to fund the commercial launch of PALSONIFY, advance its research and development pipeline, and support broader corporate purposes, thereby strengthening its financial position as it scales its endocrine-focused portfolio.

The most recent analyst rating on (CRNX) stock is a Buy with a $87.00 price target. To see the full list of analyst forecasts on Crinetics Pharmaceuticals stock, see the CRNX Stock Forecast page.

Crinetics Highlights Strong PALSONIFY Launch and Trial Progress

On January 5, 2026, Crinetics Pharmaceuticals reported strong early U.S. launch metrics for PALSONIFY, its recently FDA-approved first-line acromegaly treatment, including unaudited preliminary net product revenue of more than $5 million in the fourth quarter of 2025, over 200 patient enrollment forms, more than 125 unique prescribers split evenly between community and pituitary centers, and favorable reimbursement dynamics with many prescriptions filled without bridge supplies and prior authorizations typically lasting 12 months. At the same time, the company released positive topline data from the fourth cohort and open-label extension of its Phase 2 TouCAHn trial of atumelnant in adults with classic congenital adrenal hyperplasia, showing a 67% mean reduction in androstenedione levels and successful glucocorticoid dose reduction to physiologic levels in most completers, alongside a favorable safety profile with no serious or treatment-related severe adverse events and no hepatic transaminase issues, reinforcing the candidate’s potential to strengthen Crinetics’ endocrine portfolio and future market positioning in CAH and ACTH-driven disorders.

The most recent analyst rating on (CRNX) stock is a Buy with a $90.00 price target. To see the full list of analyst forecasts on Crinetics Pharmaceuticals stock, see the CRNX Stock Forecast page.