Investment analysts at HC Wainwright assumed coverage on shares of CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) in a research report issued on Monday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $65.00 price target on the stock. HC Wainwright's target price indicates a potential upside of 56.29% from the stock's current price.
Several other equities research analysts have also weighed in on the company. Barclays dropped their price target on CRISPR Therapeutics from $59.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 6th. Needham & Company LLC restated a "buy" rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, January 14th. StockNews.com upgraded CRISPR Therapeutics to a "sell" rating in a research report on Monday, December 30th. Royal Bank of Canada reissued a "sector perform" rating and set a $53.00 price target on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Finally, Bank of America cut their price target on CRISPR Therapeutics from $98.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $77.59.
View Our Latest Research Report on CRSP
Shares of CRSP stock opened at $41.59 on Monday. The firm has a market cap of $3.55 billion, a P/E ratio of -14.70 and a beta of 1.67. CRISPR Therapeutics has a fifty-two week low of $36.52 and a fifty-two week high of $91.10. The business's 50 day moving average price is $43.76 and its 200-day moving average price is $47.07.
CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.41. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. The company had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. During the same period in the previous year, the company posted ($1.41) earnings per share. As a group, equities analysts predict that CRISPR Therapeutics will post -5.1 EPS for the current year.
In related news, CEO Samarth Kulkarni sold 15,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $55.10, for a total value of $826,500.00. Following the transaction, the chief executive officer now owns 181,540 shares of the company's stock, valued at $10,002,854. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CRSP. Private Advisor Group LLC raised its stake in shares of CRISPR Therapeutics by 18.5% during the 4th quarter. Private Advisor Group LLC now owns 85,036 shares of the company's stock worth $3,347,000 after acquiring an additional 13,289 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of CRISPR Therapeutics by 10.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 44,692 shares of the company's stock worth $1,759,000 after acquiring an additional 4,351 shares in the last quarter. Allworth Financial LP raised its stake in shares of CRISPR Therapeutics by 2,117.4% during the 4th quarter. Allworth Financial LP now owns 15,078 shares of the company's stock worth $593,000 after acquiring an additional 14,398 shares in the last quarter. Congress Asset Management Co. raised its stake in shares of CRISPR Therapeutics by 4.5% during the 4th quarter. Congress Asset Management Co. now owns 68,739 shares of the company's stock worth $2,706,000 after acquiring an additional 2,971 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of CRISPR Therapeutics by 5,269.3% during the 4th quarter. Van ECK Associates Corp now owns 83,010 shares of the company's stock worth $3,267,000 after acquiring an additional 81,464 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company's stock.
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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