CRISPR Therapeutics (NASDAQ:CRSP) Receives Buy Rating from Needham & Company LLC

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They currently have a $84.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 145.18% from the company’s current price.

Other analysts have also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and set a $65.00 price objective on shares of CRISPR Therapeutics in a research report on Thursday, February 13th. Royal Bank of Canada reduced their price target on CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating for the company in a report on Wednesday, February 12th. Barclays increased their price objective on CRISPR Therapeutics from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research note on Thursday, February 13th. Finally, TD Cowen upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price target on the stock in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus price target of $73.11.

CRISPR Therapeutics Price Performance

NASDAQ:CRSP opened at $34.26 on Wednesday. The stock has a market cap of $2.94 billion, a PE ratio of -7.84 and a beta of 1.85. CRISPR Therapeutics has a fifty-two week low of $30.04 and a fifty-two week high of $67.88. The stock’s 50-day moving average is $41.16 and its two-hundred day moving average is $44.07.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. On average, equities research analysts anticipate that CRISPR Therapeutics will post -5.16 earnings per share for the current year.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, Director John Greene purchased 7,000 shares of the stock in a transaction on Wednesday, February 26th. The shares were purchased at an average price of $44.85 per share, with a total value of $313,950.00. Following the acquisition, the director now directly owns 7,000 shares of the company’s stock, valued at $313,950. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel James R. Kasinger sold 2,850 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $120,897.00. Following the transaction, the general counsel now directly owns 77,530 shares of the company’s stock, valued at $3,288,822.60. The trade was a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,381 shares of company stock worth $1,608,243. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wood Tarver Financial Group LLC bought a new stake in shares of CRISPR Therapeutics in the 4th quarter valued at approximately $30,000. Ameriflex Group Inc. acquired a new stake in CRISPR Therapeutics in the 4th quarter valued at $36,000. Highline Wealth Partners LLC bought a new stake in CRISPR Therapeutics in the fourth quarter valued at $39,000. Western Pacific Wealth Management LP raised its stake in CRISPR Therapeutics by 100.0% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after acquiring an additional 500 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of CRISPR Therapeutics in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

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.