CRISPR Therapeutics’ (CRSP) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a report released on Tuesday,Benzinga reports. The brokerage currently has a $84.00 target price on the stock.

Several other analysts have also recently issued reports on CRSP. Bank of America dropped their target price on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a research report on Monday, December 30th. JMP Securities reiterated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a report on Friday, December 20th. Barclays cut their price target on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $53.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics presently has an average rating of “Hold” and a consensus target price of $78.38.

CRISPR Therapeutics Stock Up 3.2 %

CRISPR Therapeutics stock opened at $40.30 on Tuesday. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -14.24 and a beta of 1.68. CRISPR Therapeutics has a 52-week low of $36.52 and a 52-week high of $91.10. The company has a fifty day simple moving average of $45.23 and a 200-day simple moving average of $48.25.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.41. The business had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. During the same period last year, the company posted ($1.41) EPS. On average, research analysts anticipate that CRISPR Therapeutics will post -5.13 EPS for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 30,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.62, for a total value of $1,668,600.00. Following the completion of the transaction, the chief executive officer now owns 196,540 shares in the company, valued at approximately $10,931,554.80. The trade was a 13.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its stake in shares of CRISPR Therapeutics by 4.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,606 shares of the company’s stock valued at $249,000 after acquiring an additional 211 shares in the last quarter. Boston Family Office LLC raised its position in CRISPR Therapeutics by 2.2% in the 3rd quarter. Boston Family Office LLC now owns 9,763 shares of the company’s stock valued at $459,000 after purchasing an additional 213 shares in the last quarter. Bedell Frazier Investment Counselling LLC boosted its stake in shares of CRISPR Therapeutics by 0.8% in the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 26,357 shares of the company’s stock valued at $1,238,000 after buying an additional 218 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of CRISPR Therapeutics by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 12,477 shares of the company’s stock worth $586,000 after buying an additional 231 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its stake in shares of CRISPR Therapeutics by 11.3% during the third quarter. Sunbelt Securities Inc. now owns 2,955 shares of the company’s stock worth $139,000 after buying an additional 300 shares during the period. 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.