CRISPR Therapeutics (NASDAQ:CRSP) Price Target Raised to $89.00 at Citigroup

CRISPR Therapeutics (NASDAQ:CRSP) had its target price upped by Citigroup from $88.00 to $89.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also issued reports on CRSP. Mizuho boosted their target price on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Wolfe Research began coverage on shares of CRISPR Therapeutics in a research report on Thursday, February 15th. They set a peer perform rating on the stock. Wells Fargo & Company boosted their price target on shares of CRISPR Therapeutics from $55.00 to $70.00 and gave the stock an equal weight rating in a research report on Thursday, February 22nd. Morgan Stanley boosted their price target on shares of CRISPR Therapeutics from $46.00 to $48.00 and gave the stock an underweight rating in a research report on Monday, February 26th. Finally, Barclays boosted their price target on shares of CRISPR Therapeutics from $61.00 to $80.00 and gave the stock an equal weight rating in a research report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $76.29.

CRISPR Therapeutics Price Performance

CRISPR Therapeutics stock opened at $56.16 on Thursday. The firm has a 50-day moving average price of $73.51 and a two-hundred day moving average price of $63.34. CRISPR Therapeutics has a 52-week low of $37.55 and a 52-week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Wednesday, February 21st. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.95. The firm had revenue of $201.20 million for the quarter, compared to analyst estimates of $148.72 million. The company’s revenue for the quarter was up 3253.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.41) earnings per share. Sell-side analysts anticipate that CRISPR Therapeutics will post -6.24 EPS for the current year.

Insider Buying and Selling

In other news, CEO Samarth Kulkarni sold 19,582 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the sale, the chief executive officer now owns 208,122 shares in the company, valued at $12,468,589.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Raju Prasad sold 3,524 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $72.69, for a total transaction of $256,159.56. Following the sale, the chief financial officer now owns 6,476 shares in the company, valued at $470,740.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Samarth Kulkarni sold 19,582 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the sale, the chief executive officer now owns 208,122 shares in the company, valued at approximately $12,468,589.02. The disclosure for this sale can be found here. Insiders have sold 133,992 shares of company stock worth $9,157,835 in the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Large investors have recently made changes to their positions in the company. CWM LLC grew its position in CRISPR Therapeutics by 80.7% during the third quarter. CWM LLC now owns 582 shares of the company’s stock valued at $26,000 after purchasing an additional 260 shares in the last quarter. Tradewinds Capital Management LLC grew its position in CRISPR Therapeutics by 545.5% during the third quarter. Tradewinds Capital Management LLC now owns 710 shares of the company’s stock valued at $32,000 after purchasing an additional 600 shares in the last quarter. Blue Trust Inc. purchased a new position in CRISPR Therapeutics during the fourth quarter valued at approximately $32,000. Headlands Technologies LLC purchased a new position in CRISPR Therapeutics during the third quarter valued at approximately $34,000. Finally, Bourgeon Capital Management LLC grew its position in CRISPR Therapeutics by 1,000.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

About CRISPR Therapeutics

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.