CRISPR Therapeutics (NASDAQ:CRSP) Stock Rating Reaffirmed by Needham & Company LLC

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They currently have a $88.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 62.93% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald reissued a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. JMP Securities reissued a “market outperform” rating and set a $86.00 target price on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Wells Fargo & Company dropped their target price on shares of CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Barclays dropped their target price on shares of CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Finally, Mizuho boosted their target price on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.71.

CRISPR Therapeutics Stock Down 2.5 %

Shares of CRISPR Therapeutics stock opened at $54.01 on Thursday. The firm’s 50 day moving average price is $56.72 and its 200-day moving average price is $64.46. CRISPR Therapeutics has a 52-week low of $37.55 and a 52-week high of $91.10. The company has a market cap of $4.59 billion, a P/E ratio of -19.86 and a beta of 1.78.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $25.53 million. During the same quarter in the prior year, the firm posted ($0.67) earnings per share. The firm’s revenue was down 99.5% on a year-over-year basis. As a group, equities research analysts forecast that CRISPR Therapeutics will post -5.51 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 19,582 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $59.91, for a total value of $1,173,157.62. Following the completion of the transaction, the chief executive officer now directly owns 208,122 shares in the company, valued at approximately $12,468,589.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Samarth Kulkarni sold 19,582 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $59.91, for a total value of $1,173,157.62. Following the completion of the transaction, the chief executive officer now directly owns 208,122 shares in the company, valued at approximately $12,468,589.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Julianne Bruno sold 3,366 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $56.09, for a total transaction of $188,798.94. Following the completion of the sale, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riggs Asset Managment Co. Inc. increased its holdings in CRISPR Therapeutics by 66.7% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock worth $34,000 after acquiring an additional 200 shares in the last quarter. Orion Capital Management LLC increased its holdings in CRISPR Therapeutics by 44.0% in the 1st quarter. Orion Capital Management LLC now owns 720 shares of the company’s stock worth $49,000 after acquiring an additional 220 shares in the last quarter. WealthPlan Investment Management LLC increased its holdings in CRISPR Therapeutics by 3.1% in the 4th quarter. WealthPlan Investment Management LLC now owns 9,663 shares of the company’s stock worth $605,000 after acquiring an additional 288 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of CRISPR Therapeutics by 7.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 4,200 shares of the company’s stock worth $286,000 after buying an additional 300 shares in the last quarter. Finally, E Fund Management Co. Ltd. grew its holdings in shares of CRISPR Therapeutics by 3.3% during the fourth quarter. E Fund Management Co. Ltd. now owns 9,460 shares of the company’s stock worth $592,000 after buying an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

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.