CRISPR Therapeutics (NASDAQ:CRSP) PT Raised to $89.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price target raised by analysts at Citigroup from $88.00 to $89.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 61.67% from the company’s current price.

Several other equities research analysts also recently commented on the company. Morgan Stanley upped their target price on CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Chardan Capital upped their price target on CRISPR Therapeutics from $110.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Barclays upped their price target on CRISPR Therapeutics from $61.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, February 22nd. Wolfe Research started coverage on CRISPR Therapeutics in a research report on Thursday, February 15th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company upped their price target on CRISPR Therapeutics from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, CRISPR Therapeutics currently has an average rating of “Hold” and a consensus target price of $76.29.

CRISPR Therapeutics Stock Down 2.0 %

Shares of NASDAQ CRSP opened at $55.05 on Thursday. CRISPR Therapeutics has a 12 month low of $37.55 and a 12 month high of $91.10. The company has a market cap of $4.67 billion, a price-to-earnings ratio of -28.09 and a beta of 1.76. The business has a fifty day simple moving average of $73.26 and a 200-day simple moving average of $63.29.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Wednesday, February 21st. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.15 by $0.95. The company had revenue of $201.20 million for the quarter, compared to analysts’ expectations of $148.72 million. During the same period in the prior year, the company earned ($1.41) earnings per share. The company’s revenue for the quarter was up 3253.3% on a year-over-year basis. As a group, sell-side analysts expect that CRISPR Therapeutics will post -6.24 EPS for the current fiscal year.

Insider Activity

In other news, CEO Samarth Kulkarni sold 20,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the transaction, the chief executive officer now owns 187,377 shares of the company’s stock, valued at approximately $15,057,615.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Raju Prasad sold 3,524 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $72.69, for a total transaction of $256,159.56. Following the transaction, the chief financial officer now owns 6,476 shares of the company’s stock, valued at approximately $470,740.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Samarth Kulkarni sold 20,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $80.36, for a total value of $1,607,200.00. Following the transaction, the chief executive officer now directly owns 187,377 shares in the company, valued at approximately $15,057,615.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,992 shares of company stock valued at $9,157,835. Insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Several hedge funds have recently added to or reduced their stakes in CRSP. Fairfield Bush & CO. bought a new stake in CRISPR Therapeutics during the 1st quarter valued at approximately $90,000. Bank of New York Mellon Corp lifted its position in shares of CRISPR Therapeutics by 40.7% in the 1st quarter. Bank of New York Mellon Corp now owns 91,062 shares of the company’s stock worth $5,716,000 after acquiring an additional 26,358 shares during the period. US Bancorp DE lifted its position in shares of CRISPR Therapeutics by 10.0% in the 1st quarter. US Bancorp DE now owns 9,526 shares of the company’s stock worth $598,000 after acquiring an additional 866 shares during the period. BlackRock Inc. lifted its position in shares of CRISPR Therapeutics by 79.2% in the 1st quarter. BlackRock Inc. now owns 2,278,774 shares of the company’s stock worth $143,038,000 after acquiring an additional 1,007,246 shares during the period. Finally, Cibc World Market Inc. lifted its position in shares of CRISPR Therapeutics by 49.3% in the 1st quarter. Cibc World Market Inc. now owns 8,354 shares of the company’s stock worth $524,000 after acquiring an additional 2,760 shares during the period. 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.