Brokerages Set CRISPR Therapeutics AG (NASDAQ:CRSP) Target Price at $71.75

CRISPR Therapeutics AG (NASDAQ:CRSP) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $71.75.

A number of brokerages recently issued reports on CRSP. JMP Securities reiterated a “market outperform” rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a report on Friday, June 27th. Chardan Capital restated a “buy” rating and set a $82.00 price target on shares of CRISPR Therapeutics in a research note on Thursday, June 26th. The Goldman Sachs Group cut their target price on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Piper Sandler reissued an “overweight” rating and set a $105.00 price objective on shares of CRISPR Therapeutics in a report on Friday, June 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $65.00 price target on shares of CRISPR Therapeutics in a report on Friday, June 27th.

Insider Activity

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,932 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $35.94, for a total transaction of $141,316.08. Following the transaction, the insider owned 6,068 shares in the company, valued at approximately $218,083.92. This represents a 39.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Simeon George purchased 989,812 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was bought at an average cost of $52.03 per share, for a total transaction of $51,499,918.36. Following the purchase, the director directly owned 1,730,179 shares in the company, valued at $90,021,213.37. This trade represents a 133.69% increase in their position. The disclosure for this purchase can be found here. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRSP. SVB Wealth LLC purchased a new position in shares of CRISPR Therapeutics during the 1st quarter worth $25,000. Costello Asset Management INC purchased a new stake in CRISPR Therapeutics during the 1st quarter worth approximately $27,000. Wood Tarver Financial Group LLC acquired a new stake in CRISPR Therapeutics during the 4th quarter worth approximately $30,000. Ameriflex Group Inc. acquired a new position in shares of CRISPR Therapeutics in the fourth quarter worth $36,000. Finally, Quantbot Technologies LP boosted its holdings in CRISPR Therapeutics by 272.4% in the first quarter. Quantbot Technologies LP now owns 1,337 shares of the company’s stock valued at $45,000 after purchasing an additional 978 shares during the period. Institutional investors and hedge funds own 69.20% of the company’s stock.

CRISPR Therapeutics Trading Up 18.2%

CRISPR Therapeutics stock opened at $65.13 on Wednesday. The firm has a market capitalization of $5.62 billion, a PE ratio of -14.41 and a beta of 1.82. CRISPR Therapeutics has a 12-month low of $30.04 and a 12-month high of $66.49. The firm has a 50-day moving average price of $44.67 and a 200-day moving average price of $41.86.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.31). CRISPR Therapeutics had a negative return on equity of 20.08% and a negative net margin of 1,023.64%. During the same period in the previous year, the company earned ($1.43) earnings per share. CRISPR Therapeutics’s quarterly revenue was up 71.6% on a year-over-year basis. As a group, sell-side analysts predict that CRISPR Therapeutics will post -5.16 earnings per share for the current fiscal year.

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.