JMP Securities Reaffirms “Market Outperform” Rating for CRISPR Therapeutics (NASDAQ:CRSP)

JMP Securities restated their market outperform rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a research report released on Thursday morning,Benzinga reports. They currently have a $86.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Chardan Capital cut their price objective on CRISPR Therapeutics from $94.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday. Royal Bank of Canada reduced 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 research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price objective on shares of CRISPR Therapeutics in a research report on Wednesday. Barclays increased their target price on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Bank of America decreased their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $74.05.

CRISPR Therapeutics Price Performance

Shares of CRSP stock opened at $43.49 on Thursday. CRISPR Therapeutics has a one year low of $36.52 and a one year high of $91.10. The company has a market cap of $3.71 billion, a P/E ratio of -15.37 and a beta of 1.67. The firm has a 50-day moving average of $42.06 and a 200-day moving average of $46.25.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. As a group, research analysts expect that CRISPR Therapeutics will post -5.08 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Samarth Kulkarni sold 15,000 shares of CRISPR Therapeutics stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.10, for a total transaction of $826,500.00. Following the completion of the sale, the chief executive officer now owns 181,540 shares in the company, valued at approximately $10,002,854. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. ARK Investment Management LLC grew its stake in CRISPR Therapeutics by 19.7% in the 4th quarter. ARK Investment Management LLC now owns 8,973,064 shares of the company’s stock worth $353,180,000 after buying an additional 1,474,439 shares in the last quarter. State Street Corp grew its position in CRISPR Therapeutics by 25.0% in the third quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after acquiring an additional 599,304 shares in the last quarter. FMR LLC increased its stake in CRISPR Therapeutics by 1.0% in the third quarter. FMR LLC now owns 2,376,166 shares of the company’s stock valued at $111,632,000 after acquiring an additional 23,075 shares during the last quarter. Vanguard Group Inc. raised its position in CRISPR Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,735,998 shares of the company’s stock valued at $68,329,000 after purchasing an additional 10,579 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in CRISPR Therapeutics by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,008,214 shares of the company’s stock worth $47,383,000 after purchasing an additional 35,196 shares during the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

About CRISPR Therapeutics

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.