TD Cowen Upgrades CRISPR Therapeutics (NASDAQ:CRSP) to “Hold”

CRISPR Therapeutics (NASDAQ:CRSP) was upgraded by stock analysts at TD Cowen from a “sell” rating to a “hold” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm currently has a $35.00 target price on the stock. TD Cowen’s target price indicates a potential downside of 11.66% from the company’s previous close.

Other research analysts have also issued reports about the company. Chardan Capital reaffirmed a “buy” rating and set a $94.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. StockNews.com raised CRISPR Therapeutics to a “sell” rating in a research report on Monday, December 30th. HC Wainwright initiated coverage on CRISPR Therapeutics in a research report on Monday, February 3rd. They set a “buy” rating and a $65.00 target price for the company. Bank of America lowered their target price on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, JMP Securities reiterated 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, nine have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $75.22.

CRISPR Therapeutics Stock Performance

Shares of CRSP opened at $39.62 on Wednesday. CRISPR Therapeutics has a 52 week low of $36.52 and a 52 week high of $91.10. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -14.00 and a beta of 1.67. The stock has a fifty day moving average of $42.45 and a 200-day moving average of $46.40.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. As a group, equities analysts forecast that CRISPR Therapeutics will post -5.08 EPS for the current year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $55.10, for a total transaction of $826,500.00. Following the transaction, the chief executive officer now owns 181,540 shares of the company’s stock, valued at $10,002,854. This trade represents a 7.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds have recently modified their holdings of the company. Capital Market Strategies LLC bought a new stake in shares of CRISPR Therapeutics in the 4th quarter worth approximately $461,000. KBC Group NV raised its holdings in shares of CRISPR Therapeutics by 2,047.4% in the 4th quarter. KBC Group NV now owns 60,514 shares of the company’s stock worth $2,382,000 after purchasing an additional 57,696 shares during the period. Capital Advisors Inc. OK raised its holdings in shares of CRISPR Therapeutics by 8.1% in the 3rd quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company’s stock worth $14,122,000 after purchasing an additional 22,583 shares during the period. Geode Capital Management LLC raised its holdings in shares of CRISPR Therapeutics by 3.6% in the 3rd 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 period. Finally, State Street Corp raised its holdings in shares of CRISPR Therapeutics by 25.0% in the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after purchasing an additional 599,304 shares during the period. Institutional investors own 69.20% of the company’s stock.

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.