CRISPR Therapeutics AG (NASDAQ:CRSP) Receives $68.35 Average Price Target from Brokerages

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) have received a consensus rating of “Hold” from the twenty-two brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $68.35.

A number of research firms recently commented on CRSP. Robert W. Baird decreased their price objective on shares of CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Wednesday, October 8th. Royal Bank Of Canada increased their target price on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 11th. Needham & Company LLC restated a “buy” rating and issued a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, December 23rd. Finally, JPMorgan Chase & Co. assumed coverage on CRISPR Therapeutics in a research note on Thursday, September 18th. They set an “overweight” rating and a $70.00 price objective for the company.

CRISPR Therapeutics Price Performance

CRSP opened at $53.84 on Wednesday. The stock has a market capitalization of $5.13 billion, a PE ratio of -9.63 and a beta of 1.70. CRISPR Therapeutics has a 12-month low of $30.04 and a 12-month high of $78.48. The firm’s fifty day moving average price is $54.93 and its 200 day moving average price is $57.97.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.15. The business had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $8.74 million. CRISPR Therapeutics had a negative return on equity of 21.23% and a negative net margin of 1,273.70%. On average, equities research analysts forecast that CRISPR Therapeutics will post -5.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Samarth Kulkarni sold 50,895 shares of the firm’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $67.91, for a total value of $3,456,279.45. Following the sale, the chief executive officer directly owned 254,201 shares of the company’s stock, valued at $17,262,789.91. This trade represents a 16.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel James R. Kasinger sold 1,076 shares of the firm’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total value of $71,661.60. Following the sale, the general counsel directly owned 83,402 shares in the company, valued at approximately $5,554,573.20. This trade represents a 1.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 56,213 shares of company stock valued at $3,810,458. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CRISPR Therapeutics by 5.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,516 shares of the company’s stock worth $228,000 after purchasing an additional 180 shares during the period. IFP Advisors Inc grew its position in CRISPR Therapeutics by 24.6% during the second quarter. IFP Advisors Inc now owns 916 shares of the company’s stock valued at $45,000 after acquiring an additional 181 shares during the last quarter. Cerity Partners LLC grew its stake in shares of CRISPR Therapeutics by 3.0% during the second quarter. Cerity Partners LLC now owns 6,541 shares of the company’s stock valued at $318,000 after buying an additional 190 shares during the last quarter. Peapack Gladstone Financial Corp grew its holdings in shares of CRISPR Therapeutics by 3.0% in the second quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company’s stock worth $339,000 after purchasing an additional 200 shares during the last quarter. Finally, Optiver Holding B.V. grew its stake in shares of CRISPR Therapeutics by 71.4% in the third quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock worth $33,000 after purchasing an additional 210 shares during the last quarter. 69.20% of the stock is owned by institutional investors.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.