Analysts Set CRISPR Therapeutics AG (NASDAQ:CRSP) Price Target at $67.78

CRISPR Therapeutics AG (NASDAQ:CRSP) has earned an average rating of “Moderate Buy” from the nineteen brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $67.7778.

A number of analysts have recently weighed in on CRSP shares. Morgan Stanley set a $60.00 price objective on shares of CRISPR Therapeutics and gave the stock an “equal weight” rating in a research note on Thursday, June 11th. Citizens Jmp reiterated a “market outperform” rating and issued a $80.00 target price on shares of CRISPR Therapeutics in a research note on Monday, July 6th. UBS Group set a $80.00 target price on shares of CRISPR Therapeutics in a report on Friday, June 12th. Wall Street Zen cut CRISPR Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, July 5th. Finally, Sanford C. Bernstein increased their target price on CRISPR Therapeutics from $50.00 to $56.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th.

CRISPR Therapeutics Stock Up 1.7%

Shares of CRSP stock opened at $48.44 on Friday. The stock’s 50 day simple moving average is $52.57 and its 200 day simple moving average is $52.45. CRISPR Therapeutics has a twelve month low of $44.12 and a twelve month high of $78.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 17.96 and a current ratio of 17.97. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of -7.79 and a beta of 1.71.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share (EPS) for the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%.The company had revenue of $1.46 million for the quarter. As a group, research analysts predict that CRISPR Therapeutics will post -4.9 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In other news, insider Naimish Patel sold 3,786 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $55.62, for a total transaction of $210,577.32. Following the completion of the transaction, the insider directly owned 19,357 shares in the company, valued at $1,076,636.34. The trade was a 16.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cerity Partners LLC increased its holdings in CRISPR Therapeutics by 3.0% in the 2nd quarter. Cerity Partners LLC now owns 6,541 shares of the company’s stock valued at $318,000 after buying an additional 190 shares during the period. Peapack Gladstone Financial Corp lifted its holdings in shares of CRISPR Therapeutics by 3.0% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company’s stock worth $339,000 after acquiring an additional 200 shares during the period. Allworth Financial LP lifted its holdings in shares of CRISPR Therapeutics by 2.7% during the 4th quarter. Allworth Financial LP now owns 9,550 shares of the company’s stock worth $501,000 after acquiring an additional 249 shares during the period. Meeder Advisory Services Inc. boosted its position in shares of CRISPR Therapeutics by 6.6% during the 4th quarter. Meeder Advisory Services Inc. now owns 4,392 shares of the company’s stock valued at $230,000 after acquiring an additional 270 shares in the last quarter. Finally, Hedges Asset Management LLC boosted its position in shares of CRISPR Therapeutics by 1.2% during the 4th quarter. Hedges Asset Management LLC now owns 22,775 shares of the company’s stock valued at $1,194,000 after acquiring an additional 275 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.