CRISPR Therapeutics (NASDAQ:CRSP) Price Target Lowered to $85.00 at Bank of America

CRISPR Therapeutics (NASDAQ:CRSP) had its price target reduced by Bank of America from $98.00 to $85.00 in a research note released on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on CRSP. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research report on Monday, December 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $53.00 target price on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Chardan Capital reaffirmed a “buy” rating and issued a $94.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 target price on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Finally, JMP Securities restated a “market outperform” rating and set a $86.00 price target on shares of CRISPR Therapeutics in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $78.38.

CRISPR Therapeutics Stock Down 1.2 %

Shares of CRSP stock opened at $41.92 on Tuesday. The stock has a 50-day simple moving average of $46.63 and a 200 day simple moving average of $48.94. CRISPR Therapeutics has a fifty-two week low of $38.20 and a fifty-two week high of $91.10. The stock has a market capitalization of $3.58 billion, a P/E ratio of -14.81 and a beta of 1.68.

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

Insider Activity

In related news, CEO Samarth Kulkarni sold 4,293 shares of CRISPR Therapeutics stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $198,680.04. Following the transaction, the chief executive officer now owns 226,540 shares in the company, valued at $10,484,271.20. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the transaction, the general counsel now directly owns 62,597 shares of the company’s stock, valued at approximately $2,896,989.16. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,382 shares of company stock valued at $2,744,179. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in CRISPR Therapeutics by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 78,692 shares of the company’s stock valued at $4,250,000 after purchasing an additional 3,378 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of CRISPR Therapeutics by 14.0% during the second quarter. Commonwealth Equity Services LLC now owns 61,559 shares of the company’s stock valued at $3,325,000 after buying an additional 7,560 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of CRISPR Therapeutics by 3.8% in the second quarter. Natixis Advisors LLC now owns 10,906 shares of the company’s stock valued at $589,000 after buying an additional 400 shares during the period. Larson Financial Group LLC grew its position in CRISPR Therapeutics by 95.5% during the second quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock worth $31,000 after buying an additional 276 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in CRISPR Therapeutics by 35.0% during the second quarter. National Bank of Canada FI now owns 848 shares of the company’s stock valued at $46,000 after acquiring an additional 220 shares during the period. 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.