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

Needham & Company LLC reissued their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a report issued on Wednesday,Benzinga reports. Needham & Company LLC currently has a $84.00 price target on the stock.

Several other research analysts also recently commented on the company. TD Cowen upgraded CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a report on Wednesday. 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. StockNews.com raised CRISPR Therapeutics to a “sell” rating in a research report on Monday, December 30th. Bank of America cut their price objective on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays cut their price objective on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, CRISPR Therapeutics currently has a consensus rating of “Hold” and an average target price of $76.11.

CRISPR Therapeutics Price Performance

Shares of NASDAQ CRSP opened at $43.30 on Wednesday. The stock has a fifty day simple moving average of $42.06 and a two-hundred day simple moving average of $46.25. CRISPR Therapeutics has a 1-year low of $36.52 and a 1-year high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share 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%. Equities research analysts expect that CRISPR Therapeutics will post -5.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Samarth Kulkarni sold 15,000 shares of the 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 directly owns 181,540 shares in the company, valued at approximately $10,002,854. This trade represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CRSP. Wilmington Savings Fund Society FSB purchased a new position in CRISPR Therapeutics in the third quarter valued at $40,000. Darwin Wealth Management LLC acquired a new position in CRISPR Therapeutics in the 3rd quarter valued at about $43,000. Highline Wealth Partners LLC acquired a new position in CRISPR Therapeutics in the 4th quarter valued at about $39,000. Western Pacific Wealth Management LP boosted its holdings in CRISPR Therapeutics by 100.0% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after purchasing an additional 500 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of CRISPR Therapeutics in the 3rd quarter worth approximately $70,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.