CRISPR Therapeutics (NASDAQ:CRSP) Earns Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of CRISPR Therapeutics (NASDAQ:CRSPFree Report) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $86.00 target price on the stock.

A number of other equities analysts have also weighed in on CRSP. Cantor Fitzgerald reiterated a neutral rating on shares of CRISPR Therapeutics in a research note on Thursday. Robert W. Baird lifted their price target on CRISPR Therapeutics from $46.00 to $52.00 and gave the company a neutral rating in a research report on Thursday. Wells Fargo & Company lowered their price objective on CRISPR Therapeutics from $70.00 to $65.00 and set an equal weight rating on the stock in a research report on Thursday. Barclays cut their target price on shares of CRISPR Therapeutics from $80.00 to $67.00 and set an equal weight rating for the company in a report on Thursday. Finally, Mizuho increased their price target on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, CRISPR Therapeutics has a consensus rating of Hold and an average price target of $73.93.

Get Our Latest Stock Analysis on CRISPR Therapeutics

CRISPR Therapeutics Trading Down 4.4 %

NASDAQ CRSP opened at $51.17 on Thursday. The company has a fifty day simple moving average of $64.54 and a two-hundred day simple moving average of $64.98. CRISPR Therapeutics has a 12-month low of $37.55 and a 12-month high of $91.10. The stock has a market cap of $4.35 billion, a P/E ratio of -18.81 and a beta of 1.80.

CRISPR Therapeutics (NASDAQ:CRSPGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $25.53 million. The company’s revenue for the quarter was down 99.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.67) EPS. As a group, sell-side analysts forecast that CRISPR Therapeutics will post -5.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Samarth Kulkarni sold 20,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the chief executive officer now directly owns 187,377 shares in the company, valued at $15,057,615.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,913 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total value of $152,408.71. Following the completion of the sale, the general counsel now directly owns 57,371 shares in the company, valued at approximately $4,570,747.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Samarth Kulkarni sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the chief executive officer now directly owns 187,377 shares of the company’s stock, valued at $15,057,615.72. The disclosure for this sale can be found here. Insiders have sold a total of 83,992 shares of company stock valued at $6,132,335 in the last 90 days. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of hedge funds have recently modified their holdings of CRSP. ARK Investment Management LLC raised its position in CRISPR Therapeutics by 19.2% in the fourth quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock valued at $534,360,000 after purchasing an additional 1,372,986 shares during the period. Capital International Investors raised its stake in shares of CRISPR Therapeutics by 0.8% in the 4th quarter. Capital International Investors now owns 6,134,450 shares of the company’s stock valued at $384,017,000 after acquiring an additional 48,938 shares during the period. Vanguard Group Inc. lifted its holdings in shares of CRISPR Therapeutics by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 1,636,799 shares of the company’s stock worth $111,564,000 after acquiring an additional 46,148 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of CRISPR Therapeutics by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 653,023 shares of the company’s stock worth $40,879,000 after purchasing an additional 15,085 shares during the period. Finally, Norges Bank purchased a new position in shares of CRISPR Therapeutics during the 4th quarter worth approximately $38,661,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for CRISPR Therapeutics (NASDAQ:CRSP)

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