CRISPR Therapeutics (NASDAQ:CRSP – Free Report) had its price target reduced by Barclays from $56.00 to $42.00 in a research note published on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.
A number of other brokerages have also weighed in on CRSP. JMP Securities restated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research note on Thursday, February 13th. Morgan Stanley boosted their target price on shares of CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Friday, February 14th. Needham & Company LLC reduced their target price on shares of CRISPR Therapeutics from $84.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Royal Bank of Canada lowered their price target on shares of CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating for the company in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group reduced their price objective on CRISPR Therapeutics from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $71.75.
Get Our Latest Research Report on CRSP
CRISPR Therapeutics Stock Down 1.4%
CRISPR Therapeutics (NASDAQ:CRSP – Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.31). CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. During the same period last year, the company earned ($1.43) earnings per share. The company’s revenue was up 71.6% compared to the same quarter last year. As a group, research analysts expect that CRISPR Therapeutics will post -5.16 earnings per share for the current year.
Insider Buying and Selling
In related news, General Counsel James R. Kasinger sold 2,850 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total value of $120,897.00. Following the sale, the general counsel now directly owns 77,530 shares in the company, valued at $3,288,822.60. This trade represents a 3.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Julianne Bruno sold 1,198 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total transaction of $50,819.16. Following the transaction, the chief operating officer now owns 8,263 shares of the company’s stock, valued at approximately $350,516.46. This represents a 12.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,381 shares of company stock valued at $1,608,243 over the last three months. Company insiders own 4.30% of the company’s stock.
Institutional Investors Weigh In On CRISPR Therapeutics
Hedge funds have recently bought and sold shares of the company. Magnetar Financial LLC bought a new stake in shares of CRISPR Therapeutics in the 4th quarter valued at $359,000. Baker BROS. Advisors LP increased its holdings in shares of CRISPR Therapeutics by 55.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,308,011 shares of the company’s stock worth $51,483,000 after acquiring an additional 464,936 shares in the last quarter. Vanguard Group Inc. raised its position in shares of CRISPR Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,735,998 shares of the company’s stock worth $68,329,000 after purchasing an additional 10,579 shares during the period. KBC Group NV lifted its holdings in shares of CRISPR Therapeutics by 2,047.4% during the 4th quarter. KBC Group NV now owns 60,514 shares of the company’s stock valued at $2,382,000 after purchasing an additional 57,696 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of CRISPR Therapeutics in the 4th quarter valued at approximately $3,231,000. 69.20% of the stock is currently 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.
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