CRISPR Therapeutics (NASDAQ:CRSP) Receives Market Outperform Rating from JMP Securities

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a report issued on Thursday, Benzinga reports. They presently have a $86.00 price objective on the stock. JMP Securities’ target price indicates a potential upside of 60.60% from the company’s current price.

A number of other research analysts have also recently commented on CRSP. Chardan Capital upped their target price on CRISPR Therapeutics from $110.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Wells Fargo & Company lowered their price target on CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Thursday. Wolfe Research assumed coverage on shares of CRISPR Therapeutics in a research note on Thursday, February 15th. They set a “peer perform” rating for the company. Mizuho lifted their price objective on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Needham & Company LLC reduced their target price on CRISPR Therapeutics from $90.00 to $88.00 and set a “buy” rating for the company in a report on Thursday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.73.

CRISPR Therapeutics Trading Up 0.5 %

CRISPR Therapeutics stock traded up $0.26 during mid-day trading on Thursday, hitting $53.55. The stock had a trading volume of 1,700,711 shares, compared to its average volume of 1,760,390. The firm has a market capitalization of $4.55 billion, a P/E ratio of -27.14 and a beta of 1.80. The firm’s 50 day moving average is $65.81 and its 200 day moving average is $64.64. CRISPR Therapeutics has a one year low of $37.55 and a one year high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $25.53 million. CRISPR Therapeutics’s revenue was down 99.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.67) earnings per share. As a group, equities research analysts forecast that CRISPR Therapeutics will post -6.24 earnings per share for the current year.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 20,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the sale, the chief executive officer now directly owns 187,377 shares of the company’s stock, valued at $15,057,615.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Raju Prasad sold 3,524 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $72.69, for a total value of $256,159.56. Following the completion of the sale, the chief financial officer now owns 6,476 shares in the company, valued at $470,740.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Samarth Kulkarni sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the transaction, the chief executive officer now owns 187,377 shares of the company’s stock, valued at approximately $15,057,615.72. The disclosure for this sale can be found here. Insiders have sold a total of 83,992 shares of company stock worth $6,132,335 over the last quarter. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds have recently modified their holdings of the stock. Riggs Asset Managment Co. Inc. raised its position in CRISPR Therapeutics by 66.7% during the first quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock valued at $34,000 after buying an additional 200 shares during the period. Blue Trust Inc. purchased a new stake in shares of CRISPR Therapeutics in the fourth quarter worth approximately $32,000. Bourgeon Capital Management LLC grew its position in CRISPR Therapeutics by 1,000.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. NBC Securities Inc. grew its stake in CRISPR Therapeutics by 257.6% in the first quarter. NBC Securities Inc. now owns 608 shares of the company’s stock valued at $41,000 after purchasing an additional 438 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in CRISPR Therapeutics during the fourth quarter valued at approximately $41,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

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.