Needham & Company LLC Reaffirms Buy Rating for CRISPR Therapeutics (NASDAQ:CRSP)

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They presently have a $82.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 42.07% from the company’s current price.

CRSP has been the topic of a number of other reports. UBS Group set a $80.00 price objective on shares of CRISPR Therapeutics in a report on Friday, June 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, August 6th. Morgan Stanley set a $60.00 target price on CRISPR Therapeutics and gave the company an “equal weight” rating in a research report on Thursday, June 11th. Citizens Jmp reissued a “market outperform” rating and set a $80.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, August 25th. Finally, Sanford C. Bernstein lifted their price objective on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.06.

CRISPR Therapeutics Price Performance

Shares of CRSP stock opened at $57.72 on Monday. CRISPR Therapeutics has a 1-year low of $44.12 and a 1-year high of $78.48. The stock’s fifty day moving average price is $53.62 and its 200 day moving average price is $52.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 17.85 and a quick ratio of 17.85. The company has a market cap of $5.58 billion, a price-to-earnings ratio of -12.13 and a beta of 1.74.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.94) EPS for the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. The business had revenue of $10.18 million during the quarter. On average, research analysts expect that CRISPR Therapeutics will post -4.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CRSP. Versant Capital Management Inc lifted its holdings in CRISPR Therapeutics by 175.1% in the second quarter. Versant Capital Management Inc now owns 465 shares of the company’s stock valued at $25,000 after acquiring an additional 296 shares during the period. Mcguire Capital Advisors Inc. acquired a new stake in shares of CRISPR Therapeutics during the 4th quarter worth approximately $25,000. Ramirez Asset Management Inc. purchased a new position in shares of CRISPR Therapeutics during the 4th quarter valued at approximately $26,000. Rothschild Investment LLC increased its holdings in shares of CRISPR Therapeutics by 836.7% during 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 in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of CRISPR Therapeutics during the 4th quarter valued at approximately $37,000. 69.20% of the stock is currently owned by hedge funds and other 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.