CRISPR Therapeutics (NASDAQ:CRSP) PT Lowered to $70.00


CRISPR Therapeutics (NASDAQ:CRSPGet Rating) had its price objective lowered by stock analysts at JMP Securities from $100.00 to $70.00 in a research note issued to investors on Thursday, The Fly reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price points to a potential upside of 41.10% from the company’s previous close.

Several other research analysts have also commented on CRSP. Credit Suisse Group cut their price objective on CRISPR Therapeutics from $90.00 to $78.00 in a report on Wednesday, November 2nd. Barclays dropped their target price on CRISPR Therapeutics from $88.00 to $61.00 in a research report on Wednesday, November 2nd. EF Hutton Acquisition Co. I began coverage on CRISPR Therapeutics in a research report on Thursday, January 5th. They issued a “buy” rating and a $75.00 target price for the company. SVB Leerink boosted their target price on CRISPR Therapeutics from $75.00 to $76.00 and gave the stock an “outperform” rating in a research report on Monday, November 7th. Finally, Citigroup dropped their target price on CRISPR Therapeutics from $83.00 to $63.00 and set a “neutral” rating for the company in a research report on Wednesday, November 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Hold” and an average target price of $98.22.

CRISPR Therapeutics Trading Up 4.1 %

Shares of NASDAQ CRSP opened at $49.61 on Thursday. CRISPR Therapeutics has a 12 month low of $38.94 and a 12 month high of $86.95. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -5.64 and a beta of 1.77. The business has a 50-day moving average of $49.65 and a 200-day moving average of $61.06.

CRISPR Therapeutics (NASDAQ:CRSPGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The company reported ($2.24) EPS for the quarter, topping the consensus estimate of ($2.30) by $0.06. CRISPR Therapeutics had a negative return on equity of 31.34% and a negative net margin of 4,831.79%. The company had revenue of $0.09 million during the quarter, compared to analyst estimates of $3.53 million. On average, analysts predict that CRISPR Therapeutics will post -9.23 earnings per share for the current year.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of $40.93, for a total transaction of $1,023,250.00. Following the completion of the transaction, the chief executive officer now owns 369,111 shares in the company, valued at $15,107,713.23. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 75,000 shares of company stock worth $3,744,250 over the last quarter. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CRSP. Fairfield Bush & CO. bought a new position in shares of CRISPR Therapeutics during the first quarter valued at approximately $90,000. Bank of New York Mellon Corp grew its stake in CRISPR Therapeutics by 40.7% in the first quarter. Bank of New York Mellon Corp now owns 91,062 shares of the company’s stock worth $5,716,000 after purchasing an additional 26,358 shares during the period. US Bancorp DE grew its stake in CRISPR Therapeutics by 10.0% in the first quarter. US Bancorp DE now owns 9,526 shares of the company’s stock worth $598,000 after purchasing an additional 866 shares during the period. BlackRock Inc. grew its stake in CRISPR Therapeutics by 79.2% in the first quarter. BlackRock Inc. now owns 2,278,774 shares of the company’s stock worth $143,038,000 after purchasing an additional 1,007,246 shares during the period. Finally, Cibc World Market Inc. grew its stake in CRISPR Therapeutics by 49.3% in the first quarter. Cibc World Market Inc. now owns 8,354 shares of the company’s stock worth $524,000 after purchasing an additional 2,760 shares during the period. Institutional investors own 71.51% of the company’s stock.

CRISPR Therapeutics Company Profile

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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.

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