Zacks: Brokerages Expect Crispr Theraptc (CRSP) Will Post Quarterly Sales of $2.05 Million
Wall Street analysts forecast that Crispr Theraptc (NASDAQ:CRSP) will report sales of $2.05 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Crispr Theraptc’s earnings. The lowest sales estimate is $500,000.00 and the highest is $3.60 million. Crispr Theraptc posted sales of $1.55 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.3%. The firm is scheduled to announce its next earnings results on Tuesday, November 28th.
According to Zacks, analysts expect that Crispr Theraptc will report full-year sales of $2.05 million for the current fiscal year, with estimates ranging from $7.30 million to $13.60 million. For the next financial year, analysts expect that the company will report sales of $24.00 million per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Crispr Theraptc.
Crispr Theraptc (NASDAQ:CRSP) last issued its earnings results on Thursday, August 10th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.06. Crispr Theraptc had a negative net margin of 406.61% and a negative return on equity of 47.46%. The company had revenue of $3.60 million for the quarter, compared to analysts’ expectations of $3.29 million. Crispr Theraptc’s revenue was up 350.0% on a year-over-year basis.
A number of brokerages recently issued reports on CRSP. Barclays PLC restated a “buy” rating and issued a $29.00 target price on shares of Crispr Theraptc in a report on Friday, September 8th. Chardan Capital restated a “buy” rating on shares of Crispr Theraptc in a report on Monday, August 14th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Crispr Theraptc in a report on Tuesday, July 18th. Cann began coverage on Crispr Theraptc in a report on Monday, July 17th. They issued a “market perform” rating on the stock. Finally, SunTrust Banks, Inc. began coverage on Crispr Theraptc in a report on Thursday, July 13th. They issued a “hold” rating and a $16.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $23.08.
In other news, Director Kurt Von Emster sold 35,473 shares of Crispr Theraptc stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $18.63, for a total transaction of $660,861.99. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Rodger Novak sold 75,795 shares of Crispr Theraptc stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $20.25, for a total value of $1,534,848.75. Following the transaction, the chief executive officer now owns 1,232,697 shares in the company, valued at approximately $24,962,114.25. The disclosure for this sale can be found here. Insiders have sold 393,533 shares of company stock worth $7,718,093 in the last quarter. 39.98% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in shares of Crispr Theraptc by 459.7% during the second quarter. Wells Fargo & Company MN now owns 7,987 shares of the company’s stock valued at $128,000 after buying an additional 6,560 shares in the last quarter. Capital Investment Advisory Services LLC purchased a new position in shares of Crispr Theraptc during the third quarter valued at $193,000. ARK Investment Management LLC purchased a new position in shares of Crispr Theraptc during the second quarter valued at $206,000. Moloney Securities Asset Management LLC purchased a new position in shares of Crispr Theraptc during the third quarter valued at $235,000. Finally, Vanguard Group Inc. purchased a new position in shares of Crispr Theraptc during the second quarter valued at $273,000. Institutional investors and hedge funds own 25.50% of the company’s stock.
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About Crispr Theraptc
Crispr Therapeutics AG is a Switzerland-based gene-editing company. The Company focuses on the development of transformative gene-based medicines for serious diseases using its Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)/Cas9 gene-editing platform. CRISPR/Cas9 can be programmed to cut, edit and correct disease-associated deoxyribonucleic acid (DNA) in a patient’s cell.
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