CRISPR Therapeutics’ (CRSP) Buy Rating Reiterated at Needham & Company LLC

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $88.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 38.45% from the company’s previous close.

A number of other research analysts have also commented on CRSP. Citigroup cut their target price on CRISPR Therapeutics from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Robert W. Baird increased their price objective on CRISPR Therapeutics from $46.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. JMP Securities reiterated a “market outperform” rating and set a $86.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, May 9th. Wells Fargo & Company dropped their price objective on CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Finally, Mizuho increased their price objective on CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.46.

CRISPR Therapeutics Stock Down 2.6 %

Shares of CRSP stock opened at $63.56 on Monday. CRISPR Therapeutics has a 12 month low of $37.55 and a 12 month high of $91.10. The firm has a market cap of $5.40 billion, a PE ratio of -23.37 and a beta of 1.78. The stock has a 50 day moving average of $57.11 and a 200-day moving average of $65.12.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $25.53 million. During the same period in the previous year, the business posted ($0.67) EPS. The firm’s revenue was down 99.5% on a year-over-year basis. As a group, equities analysts predict that CRISPR Therapeutics will post -5.51 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 19,582 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the transaction, the chief executive officer now owns 208,122 shares in the company, valued at $12,468,589.02. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds have recently modified their holdings of the business. Invesco Ltd. raised its position in CRISPR Therapeutics by 1.5% in the 3rd quarter. Invesco Ltd. now owns 136,123 shares of the company’s stock valued at $6,179,000 after buying an additional 2,061 shares during the last quarter. ARK Investment Management LLC raised its position in CRISPR Therapeutics by 19.2% in the 4th quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock valued at $534,360,000 after buying an additional 1,372,986 shares during the last quarter. Norges Bank acquired a new stake in CRISPR Therapeutics in the 4th quarter valued at approximately $38,661,000. Prime Capital Investment Advisors LLC acquired a new stake in CRISPR Therapeutics in the 4th quarter valued at approximately $206,000. Finally, Baker Chad R raised its position in CRISPR Therapeutics by 89.1% in the 4th quarter. Baker Chad R now owns 98,520 shares of the company’s stock valued at $6,167,000 after buying an additional 46,420 shares during the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

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.