Chardan Capital Has Lowered Expectations for CRISPR Therapeutics (NASDAQ:CRSP) Stock Price

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective cut by equities researchers at Chardan Capital from $94.00 to $84.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Chardan Capital’s target price would indicate a potential upside of 68.95% from the company’s current price.

Several other brokerages have also commented on CRSP. JMP Securities reaffirmed a “market outperform” rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, December 20th. Barclays increased their price objective on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday. Royal Bank of Canada decreased their price objective on shares of CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating for the company in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $84.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday. Finally, StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a research report on Monday, December 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.50.

CRISPR Therapeutics Stock Performance

NASDAQ:CRSP opened at $49.72 on Thursday. CRISPR Therapeutics has a fifty-two week low of $36.52 and a fifty-two week high of $91.10. The stock has a market capitalization of $4.26 billion, a P/E ratio of -17.57 and a beta of 1.67. The company’s 50-day simple moving average is $41.89 and its 200-day simple moving average is $46.17.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. On average, research analysts forecast that CRISPR Therapeutics will post -5.08 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of CRISPR Therapeutics stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $55.10, for a total transaction of $826,500.00. Following the sale, the chief executive officer now owns 181,540 shares of the company’s stock, valued at $10,002,854. The trade was a 7.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new stake in CRISPR Therapeutics during the 4th quarter worth $39,000. Western Pacific Wealth Management LP boosted its stake in CRISPR Therapeutics by 100.0% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after purchasing an additional 500 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in CRISPR Therapeutics during the 3rd quarter worth $40,000. Darwin Wealth Management LLC acquired a new stake in CRISPR Therapeutics during the 3rd quarter worth $43,000. Finally, Eastern Bank acquired a new stake in CRISPR Therapeutics during the 3rd quarter worth $70,000. 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.