CRISPR Therapeutics’ (CRSP) Buy Rating Reaffirmed at HC Wainwright

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $80.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 31.64% from the company’s current price.

CRSP has been the subject of several other research reports. Evercore reissued an “outperform” rating and set a $76.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, May 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective (up from $105.00) on shares of CRISPR Therapeutics in a research report on Tuesday, March 17th. Sanford C. Bernstein upped their target price on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Morgan Stanley set a $60.00 target price on CRISPR Therapeutics and gave the stock an “equal weight” rating in a report on Thursday, June 11th. Finally, UBS Group set a $80.00 price target on CRISPR Therapeutics in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $67.78.

CRISPR Therapeutics Price Performance

Shares of CRSP opened at $60.77 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 17.96 and a current ratio of 17.97. The stock has a 50 day simple moving average of $53.16 and a 200 day simple moving average of $53.13. CRISPR Therapeutics has a 52-week low of $44.12 and a 52-week high of $78.48. The firm has a market capitalization of $5.86 billion, a PE ratio of -9.77 and a beta of 1.71.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Tuesday, March 31st. The company reported ($1.28) EPS for the quarter. The company had revenue of $1.46 million for the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%. Sell-side analysts predict that CRISPR Therapeutics will post -4.89 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other news, insider Naimish Patel sold 3,786 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $55.62, for a total value of $210,577.32. Following the completion of the transaction, the insider owned 19,357 shares in the company, valued at $1,076,636.34. This trade represents a 16.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in shares of CRISPR Therapeutics by 175.1% during the 2nd quarter. Versant Capital Management Inc now owns 465 shares of the company’s stock worth $25,000 after purchasing an additional 296 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new position in shares of CRISPR Therapeutics in the 4th quarter valued at about $25,000. Ramirez Asset Management Inc. acquired a new position in shares of CRISPR Therapeutics during the 4th quarter worth about $26,000. Rothschild Investment LLC raised its holdings in shares of CRISPR Therapeutics by 836.7% in the 4th quarter. Rothschild Investment LLC now owns 562 shares of the company’s stock valued at $29,000 after purchasing an additional 502 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in CRISPR Therapeutics by 196.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 576 shares of the company’s stock valued at $30,000 after purchasing an additional 382 shares during the last quarter. 69.20% of the stock is currently owned by institutional investors.

About CRISPR Therapeutics

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.