CRISPR Therapeutics (NASDAQ:CRSP) Given Buy Rating at Needham & Company LLC

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $84.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 116.22% from the company’s current price.

Several other research firms have also issued reports on CRSP. JMP Securities reissued a “market outperform” rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $53.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Chardan Capital reaffirmed a “buy” rating and issued a $94.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a report on Monday, December 30th. Finally, Bank of America decreased their price target on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.38.

CRISPR Therapeutics Trading Down 2.1 %

Shares of CRISPR Therapeutics stock opened at $38.85 on Tuesday. The stock has a market capitalization of $3.32 billion, a P/E ratio of -13.73 and a beta of 1.68. The business’s fifty day moving average price is $45.94 and its 200 day moving average price is $48.48. CRISPR Therapeutics has a twelve month low of $36.52 and a twelve month high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.41. The business had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. During the same period in the previous year, the company posted ($1.41) EPS. As a group, sell-side analysts predict that CRISPR Therapeutics will post -5.13 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 30,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.62, for a total value of $1,668,600.00. Following the transaction, the chief executive officer now owns 196,540 shares in the company, valued at $10,931,554.80. The trade was a 13.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Large investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new stake in shares of CRISPR Therapeutics in the 2nd quarter valued at $35,000. Highline Wealth Partners LLC bought a new position in CRISPR Therapeutics during the fourth quarter valued at about $39,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of CRISPR Therapeutics in the third quarter worth about $40,000. Darwin Wealth Management LLC bought a new stake in shares of CRISPR Therapeutics during the 3rd quarter worth about $43,000. Finally, Elkhorn Partners Limited Partnership acquired a new position in shares of CRISPR Therapeutics during the 2nd quarter valued at about $54,000. 69.20% of the stock is owned by institutional investors.

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.