CRISPR Therapeutics (NASDAQ:CRSP – Get Free Report) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $70.00 target price on the stock. Citigroup’s target price would indicate a potential upside of 46.69% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. Morgan Stanley lifted their target price on CRISPR Therapeutics from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $88.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, August 8th. Credit Suisse Group lifted their target price on CRISPR Therapeutics from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, August 8th. JMP Securities reiterated a “market outperform” rating and issued a $74.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, July 25th. Finally, Chardan Capital cut their target price on CRISPR Therapeutics from $123.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.94.
CRISPR Therapeutics Price Performance
Shares of CRISPR Therapeutics stock traded up $0.52 during trading on Thursday, hitting $47.72. 1,149,256 shares of the company’s stock traded hands, compared to its average volume of 1,191,705. CRISPR Therapeutics has a 1 year low of $38.94 and a 1 year high of $75.18. The stock has a market capitalization of $3.79 billion, a P/E ratio of -8.98 and a beta of 1.62. The business has a 50-day simple moving average of $55.74 and a 200-day simple moving average of $53.62.
CRISPR Therapeutics (NASDAQ:CRSP – Get Free Report) last released its quarterly earnings data on Monday, August 7th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($2.13) by $1.15. The firm had revenue of $70.00 million during the quarter, compared to the consensus estimate of $1.80 million. CRISPR Therapeutics had a negative return on equity of 21.85% and a negative net margin of 240.84%. The firm’s quarterly revenue was up 34900.0% on a year-over-year basis. During the same period in the previous year, the company posted ($2.40) earnings per share. On average, equities analysts predict that CRISPR Therapeutics will post -5.14 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Samarth Kulkarni sold 25,000 shares of CRISPR Therapeutics stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $64.88, for a total transaction of $1,622,000.00. Following the completion of the sale, the chief executive officer now owns 387,377 shares of the company’s stock, valued at $25,133,019.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its holdings in CRISPR Therapeutics by 172.3% in the second quarter. Geneos Wealth Management Inc. now owns 561 shares of the company’s stock valued at $31,000 after acquiring an additional 355 shares during the period. Hollencrest Capital Management acquired a new position in CRISPR Therapeutics in the fourth quarter valued at approximately $25,000. Pinnacle Holdings LLC acquired a new position in CRISPR Therapeutics in the first quarter valued at approximately $48,000. Spire Wealth Management lifted its holdings in CRISPR Therapeutics by 101.8% in the second quarter. Spire Wealth Management now owns 793 shares of the company’s stock valued at $45,000 after acquiring an additional 400 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in CRISPR Therapeutics by 1,726.4% in the second quarter. EverSource Wealth Advisors LLC now owns 968 shares of the company’s stock valued at $54,000 after acquiring an additional 915 shares during the period. 70.38% 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.