Citigroup Boosts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $89.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price boosted by research analysts at Citigroup from $88.00 to $89.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 58.50% from the stock’s current price.

Other analysts also recently issued reports about the company. TheStreet upgraded CRISPR Therapeutics from a “d+” rating to a “c” rating in a research note on Friday, February 23rd. Chardan Capital boosted their price target on CRISPR Therapeutics from $110.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Barclays boosted their price target on CRISPR Therapeutics from $61.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Royal Bank of Canada boosted their price target on CRISPR Therapeutics from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company boosted their price target on CRISPR Therapeutics from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus price target of $76.29.

CRISPR Therapeutics Trading Up 1.1 %

Shares of NASDAQ:CRSP traded up $0.59 during trading on Thursday, hitting $56.15. 497,028 shares of the company were exchanged, compared to its average volume of 1,828,998. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of -28.61 and a beta of 1.76. CRISPR Therapeutics has a fifty-two week low of $37.55 and a fifty-two week high of $91.10. The firm has a fifty day moving average price of $73.51 and a two-hundred day moving average price of $63.34.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Wednesday, February 21st. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.95. The business had revenue of $201.20 million for the quarter, compared to analyst estimates of $148.72 million. The firm’s revenue was up 3253.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.41) earnings per share. As a group, research analysts predict that CRISPR Therapeutics will post -6.24 EPS for the current year.

Insider Activity

In other news, General Counsel James R. Kasinger sold 1,913 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total value of $152,408.71. Following the completion of the sale, the general counsel now owns 57,371 shares of the company’s stock, valued at $4,570,747.57. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, General Counsel James R. Kasinger sold 1,913 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total transaction of $152,408.71. Following the sale, the general counsel now owns 57,371 shares in the company, valued at approximately $4,570,747.57. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel James R. Kasinger sold 2,801 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $78.26, for a total value of $219,206.26. Following the sale, the general counsel now owns 60,070 shares in the company, valued at approximately $4,701,078.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,992 shares of company stock valued at $9,157,835. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in CRISPR Therapeutics by 80.7% in the third quarter. CWM LLC now owns 582 shares of the company’s stock worth $26,000 after acquiring an additional 260 shares in the last quarter. Tradewinds Capital Management LLC boosted its holdings in CRISPR Therapeutics by 545.5% in the third quarter. Tradewinds Capital Management LLC now owns 710 shares of the company’s stock worth $32,000 after acquiring an additional 600 shares in the last quarter. Blue Trust Inc. bought a new position in CRISPR Therapeutics in the fourth quarter worth approximately $32,000. Headlands Technologies LLC bought a new position in CRISPR Therapeutics in the third quarter worth approximately $34,000. Finally, Bourgeon Capital Management LLC lifted its holdings in shares of CRISPR Therapeutics by 1,000.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

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.