CRISPR Therapeutics (NASDAQ:CRSP) Given Buy Rating at Needham & Company LLC

by · The Cerbat Gem

Needham & Company LLC reissued their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP – Free Report) in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a $84.00 target price on the stock.

A number of other research analysts have also recently commented on the stock. Chardan Capital cut their price target on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Rodman & Renshaw began coverage on CRISPR Therapeutics in a research report on Friday, August 2nd. They set a “buy” rating and a $90.00 target price for the company. Stifel Nicolaus lowered their price target on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Cantor Fitzgerald reissued a “neutral” rating on shares of CRISPR Therapeutics in a report on Thursday, August 8th. Finally, Royal Bank of Canada lowered their target price on shares of CRISPR Therapeutics from $60.00 to $53.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Three 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $74.94.

Get Our Latest Stock Report on CRISPR Therapeutics

CRISPR Therapeutics Trading Up 0.8 %

CRSP opened at $51.15 on Wednesday. The stock’s 50 day simple moving average is $47.29 and its 200-day simple moving average is $52.24. The stock has a market cap of $4.35 billion, a PE ratio of -15.70 and a beta of 1.67. CRISPR Therapeutics has a 1 year low of $43.42 and a 1 year high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP – Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.41. The business had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. During the same period last year, the firm earned ($1.41) EPS. Equities analysts forecast that CRISPR Therapeutics will post -5.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the completion of the sale, the general counsel now owns 62,597 shares in the company, valued at $2,896,989.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 4,293 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $198,680.04. Following the transaction, the chief executive officer now directly owns 226,540 shares of the company’s stock, valued at approximately $10,484,271.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel James R. Kasinger sold 1,089 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $50,398.92. Following the sale, the general counsel now owns 62,597 shares of the company’s stock, valued at $2,896,989.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Global Trust Asset Management LLC lifted its stake in CRISPR Therapeutics by 150.0% in the second quarter. Global Trust Asset Management LLC now owns 500 shares of the company’s stock valued at $27,000 after buying an additional 300 shares during the period. Larson Financial Group LLC increased its stake in CRISPR Therapeutics by 95.5% in the second quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock valued at $31,000 after purchasing an additional 276 shares in the last quarter. GPS Wealth Strategies Group LLC raised its holdings in CRISPR Therapeutics by 99.7% in the second quarter. GPS Wealth Strategies Group LLC now owns 615 shares of the company’s stock worth $33,000 after purchasing an additional 307 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of CRISPR Therapeutics in the 2nd quarter valued at $35,000. Finally, Denver PWM LLC acquired a new stake in CRISPR Therapeutics during the 2nd quarter worth $45,000. 69.20% of the stock is currently owned by institutional investors.

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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