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

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $81.00 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 106.55% from the stock’s current price.

A number of other equities analysts have also weighed in on CRSP. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a research report on Friday. Barclays reduced their target price on shares of CRISPR Therapeutics from $56.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, May 9th. HC Wainwright restated a “buy” rating and issued a $65.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday. Evercore ISI upgraded CRISPR Therapeutics from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $99.00 in a research report on Friday, February 14th. Finally, TD Cowen raised shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 target price for the company in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.75.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ:CRSP traded up $0.54 during midday trading on Tuesday, reaching $39.22. 531,163 shares of the company’s stock traded hands, compared to its average volume of 1,674,858. CRISPR Therapeutics has a one year low of $30.04 and a one year high of $67.88. The stock has a 50 day moving average of $37.40 and a 200 day moving average of $42.24. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -8.98 and a beta of 1.88.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.31). CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. The business’s quarterly revenue was up 71.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.43) EPS. Sell-side analysts predict that CRISPR Therapeutics will post -5.16 EPS for the current fiscal year.

Insider Activity

In other news, Director John Greene bought 7,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average price of $44.85 per share, for a total transaction of $313,950.00. Following the purchase, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $313,950. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Samarth Kulkarni sold 18,360 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $55.20, for a total value of $1,013,472.00. Following the completion of the transaction, the chief executive officer now owns 171,613 shares of the company’s stock, valued at approximately $9,473,037.60. The trade was a 9.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,381 shares of company stock worth $1,608,243. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Large investors have recently made changes to their positions in the business. Bayforest Capital Ltd acquired a new position in CRISPR Therapeutics in the first quarter valued at approximately $423,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of CRISPR Therapeutics by 182.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,952,751 shares of the company’s stock worth $66,452,000 after buying an additional 1,262,560 shares in the last quarter. Woodline Partners LP lifted its stake in CRISPR Therapeutics by 34.3% in the 1st quarter. Woodline Partners LP now owns 136,483 shares of the company’s stock worth $4,645,000 after purchasing an additional 34,883 shares in the last quarter. Millennium Management LLC grew its holdings in CRISPR Therapeutics by 6,769.1% in the 1st quarter. Millennium Management LLC now owns 583,733 shares of the company’s stock valued at $19,864,000 after buying an additional 575,235 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of CRISPR Therapeutics in the first quarter valued at about $861,000. 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.