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

Needham & Company LLC reiterated their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a research note released on Thursday, Benzinga reports. Needham & Company LLC currently has a $88.00 target price on the stock.

A number of other equities analysts have also issued reports on CRSP. Cantor Fitzgerald reiterated a neutral rating on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Citigroup decreased their price objective on CRISPR Therapeutics from $89.00 to $84.00 and set a buy rating on the stock in a research report on Thursday, May 23rd. Robert W. Baird boosted their target price on CRISPR Therapeutics from $46.00 to $52.00 and gave the stock a neutral rating in a research report on Thursday, May 9th. Oppenheimer lowered their price objective on CRISPR Therapeutics from $102.00 to $95.00 and set an outperform rating for the company in a research report on Friday, May 10th. Finally, JMP Securities restated a market outperform rating and set a $86.00 target price on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $75.71.

CRISPR Therapeutics Trading Down 2.5 %

NASDAQ CRSP opened at $54.01 on Thursday. CRISPR Therapeutics has a 1-year low of $37.55 and a 1-year high of $91.10. The company has a 50 day moving average of $56.72 and a 200-day moving average of $64.53. The firm has a market cap of $4.59 billion, a price-to-earnings 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 the consensus estimate of ($1.35) by ($0.08). The business had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $25.53 million. The business’s revenue was down 99.5% on a year-over-year basis. During the same period last year, the firm posted ($0.67) EPS. On average, analysts forecast that CRISPR Therapeutics will post -5.51 earnings per share for the current year.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 19,582 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the completion of the sale, the chief executive officer now owns 208,122 shares of the company’s stock, valued at $12,468,589.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Julianne Bruno sold 3,366 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 6,745 shares in the company, valued at $378,327.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Samarth Kulkarni sold 19,582 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 208,122 shares in the company, valued at approximately $12,468,589.02. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new position in shares of CRISPR Therapeutics during the 4th quarter worth about $32,000. Bourgeon Capital Management LLC boosted 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 during the last quarter. Riggs Asset Managment Co. Inc. grew its stake in CRISPR Therapeutics by 66.7% in the first quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of CRISPR Therapeutics during the 4th quarter worth approximately $41,000. Finally, NBC Securities Inc. boosted its holdings in shares of CRISPR Therapeutics by 257.6% in the 1st quarter. NBC Securities Inc. now owns 608 shares of the company’s stock valued at $41,000 after buying an additional 438 shares during the last quarter. 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.