CRISPR Therapeutics (NASDAQ:CRSP) Price Target Raised to $56.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective increased by Barclays from $55.00 to $56.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other research analysts have also recently issued research reports about the stock. TD Cowen upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 target price on the stock in a research note on Wednesday. Chardan Capital reiterated a “buy” rating and issued a $94.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, December 10th. Bank of America decreased their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a research note on Wednesday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $74.50.

CRISPR Therapeutics Stock Performance

CRSP opened at $49.72 on Wednesday. CRISPR Therapeutics has a fifty-two week low of $36.52 and a fifty-two week high of $91.10. The firm’s fifty day moving average is $41.89 and its 200 day moving average is $46.17. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -17.57 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last released its 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 net margin of 118.13% and a negative return on equity of 12.15%. On average, equities research analysts predict that CRISPR Therapeutics will post -5.08 earnings per share for the current year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $55.10, for a total value of $826,500.00. Following the completion of the sale, the chief executive officer now directly owns 181,540 shares of the company’s stock, valued at $10,002,854. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC boosted its position 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 valued at $353,180,000 after buying an additional 1,474,439 shares during the period. Capital International Investors boosted its position in CRISPR Therapeutics by 10.3% in the 4th quarter. Capital International Investors now owns 8,743,523 shares of the company’s stock valued at $344,145,000 after buying an additional 816,789 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in CRISPR Therapeutics by 39.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company’s stock valued at $150,029,000 after buying an additional 1,074,238 shares during the period. State Street Corp boosted its position in CRISPR Therapeutics by 25.0% in the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company’s stock valued at $140,611,000 after buying an additional 599,304 shares during the period. Finally, FMR LLC lifted its position in shares of CRISPR Therapeutics by 1.0% in the 3rd quarter. FMR LLC now owns 2,376,166 shares of the company’s stock worth $111,632,000 after purchasing an additional 23,075 shares during the period. 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.