CRISPR Therapeutics (NASDAQ:CRSP) Receives New Coverage from Analysts at Sanford C. Bernstein

Analysts at Sanford C. Bernstein assumed coverage on shares of CRISPR Therapeutics (NASDAQ:CRSPGet Rating) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set a “market perform” rating on the stock.

A number of other analysts have also weighed in on the stock. Robert W. Baird initiated coverage on shares of CRISPR Therapeutics in a research report on Monday, March 6th. They issued a “neutral” rating and a $46.00 price objective on the stock. JMP Securities restated a “market outperform” rating and issued a $70.00 target price on shares of CRISPR Therapeutics in a research note on Monday, February 27th. Bryan, Garnier & Co initiated coverage on shares of CRISPR Therapeutics in a research note on Friday. They issued a “buy” rating and a $70.00 target price on the stock. Needham & Company LLC dropped their target price on shares of CRISPR Therapeutics from $122.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. Finally, EF Hutton Acquisition Co. I restated a “buy” rating and issued a $75.00 target price on shares of CRISPR Therapeutics in a research note on Wednesday, February 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.59.

CRISPR Therapeutics Price Performance

CRISPR Therapeutics stock opened at $44.46 on Tuesday. CRISPR Therapeutics has a 1-year low of $38.94 and a 1-year high of $86.95. The firm has a market capitalization of $3.50 billion, a P/E ratio of -5.31 and a beta of 1.73. The company’s 50-day moving average is $49.74 and its 200 day moving average is $53.48.

CRISPR Therapeutics (NASDAQ:CRSPGet Rating) last posted its quarterly earnings data on Tuesday, February 21st. The company reported ($1.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.27) by $0.86. CRISPR Therapeutics had a negative net margin of 54,271.70% and a negative return on equity of 31.85%. The company had revenue of $6.00 million for the quarter, compared to analyst estimates of $7.37 million. During the same period in the prior year, the company posted ($1.84) EPS. The firm’s revenue for the quarter was down 53.5% on a year-over-year basis. Research analysts anticipate that CRISPR Therapeutics will post -7.54 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 25,000 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $51.47, for a total transaction of $1,286,750.00. Following the completion of the sale, the chief executive officer now owns 369,111 shares of the company’s stock, valued at $18,998,143.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 75,000 shares of company stock worth $3,516,250. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC lifted its position in CRISPR Therapeutics by 1.2% during the fourth quarter. Voya Investment Management LLC now owns 22,129 shares of the company’s stock valued at $900,000 after acquiring an additional 269 shares during the last quarter. WealthPLAN Partners LLC purchased a new stake in CRISPR Therapeutics during the fourth quarter valued at approximately $403,000. CI Private Wealth LLC purchased a new stake in CRISPR Therapeutics during the fourth quarter valued at approximately $292,000. Captrust Financial Advisors raised its holdings in shares of CRISPR Therapeutics by 2.7% in the fourth quarter. Captrust Financial Advisors now owns 26,212 shares of the company’s stock worth $1,066,000 after buying an additional 701 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of CRISPR Therapeutics by 33.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,993,577 shares of the company’s stock worth $121,689,000 after buying an additional 752,132 shares during the last quarter. Hedge funds and other institutional investors own 71.51% of the company’s stock.

About CRISPR Therapeutics

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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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Analyst Recommendations for CRISPR Therapeutics (NASDAQ:CRSP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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