CRISPR Therapeutics’ (CRSP) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a $84.00 price objective on the stock.

Several other equities research analysts also recently commented on the stock. JMP Securities reiterated a “market outperform” rating and set a $86.00 price objective on shares of CRISPR Therapeutics in a research note on Friday, December 20th. Chardan Capital reaffirmed a “buy” rating and set a $94.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. 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 note on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $53.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Finally, Bank of America dropped their target price on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $78.38.

CRISPR Therapeutics Price Performance

Shares of CRSP stock opened at $40.30 on Tuesday. The stock’s fifty day moving average price is $45.23 and its 200 day moving average price is $48.25. CRISPR Therapeutics has a 1-year low of $36.52 and a 1-year high of $91.10. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -14.24 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.41. The business had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. During the same quarter in the previous year, the firm earned ($1.41) earnings per share. As a group, equities research analysts anticipate that CRISPR Therapeutics will post -5.13 earnings per share for the current year.

Insider Transactions at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 15,000 shares of CRISPR Therapeutics stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.10, for a total value of $826,500.00. Following the completion of the transaction, the chief executive officer now owns 181,540 shares in the company, valued at $10,002,854. The trade was a 7.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Several institutional investors have recently bought and sold shares of CRSP. Northwestern Mutual Wealth Management Co. lifted its position in shares of CRISPR Therapeutics by 4.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,606 shares of the company’s stock valued at $249,000 after buying an additional 211 shares in the last quarter. Boston Family Office LLC lifted its holdings in CRISPR Therapeutics by 2.2% during the third quarter. Boston Family Office LLC now owns 9,763 shares of the company’s stock valued at $459,000 after purchasing an additional 213 shares in the last quarter. Bedell Frazier Investment Counselling LLC grew its position in shares of CRISPR Therapeutics by 0.8% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 26,357 shares of the company’s stock valued at $1,238,000 after purchasing an additional 218 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of CRISPR Therapeutics by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 12,477 shares of the company’s stock worth $586,000 after purchasing an additional 231 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of CRISPR Therapeutics by 11.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,955 shares of the company’s stock worth $139,000 after purchasing an additional 300 shares during the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

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.