CRISPR Therapeutics (NASDAQ:CRSP) Receives Market Outperform Rating from JMP Securities

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “market outperform” rating reissued by analysts at JMP Securities in a research report issued on Thursday, Benzinga reports. They presently have a $86.00 target price on the stock. JMP Securities’ price objective would indicate a potential upside of 60.60% from the company’s current price.

A number of other analysts have also recently issued reports on the stock. TheStreet raised shares of CRISPR Therapeutics from a “d+” rating to a “c” rating in a research note on Friday, February 23rd. Mizuho increased their target price on CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Morgan Stanley boosted their price target on CRISPR Therapeutics from $46.00 to $48.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of CRISPR Therapeutics in a report on Thursday. Finally, Barclays cut their target price on shares of CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating for the company in a research note on Thursday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.73.

CRISPR Therapeutics Stock Performance

Shares of CRSP traded up $0.26 on Thursday, hitting $53.55. 1,700,711 shares of the stock traded hands, compared to its average volume of 1,760,390. CRISPR Therapeutics has a one year low of $37.55 and a one year high of $91.10. The business has a 50 day simple moving average of $65.81 and a 200 day simple moving average of $64.64. The company has a market capitalization of $4.55 billion, a PE ratio of -27.14 and a beta of 1.80.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $25.53 million. During the same quarter last year, the firm earned ($0.67) earnings per share. The business’s revenue was down 99.5% on a year-over-year basis. On average, equities analysts expect that CRISPR Therapeutics will post -6.24 earnings per share for the current year.

Insider Activity at CRISPR Therapeutics

In related news, General Counsel James R. Kasinger sold 1,913 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total value of $152,408.71. Following the sale, the general counsel now owns 57,371 shares of the company’s stock, valued at approximately $4,570,747.57. The transaction was disclosed in a filing with the SEC, which is available through this link. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the transaction, the chief executive officer now directly owns 187,377 shares of the company’s stock, valued at $15,057,615.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 1,913 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total value of $152,408.71. Following the transaction, the general counsel now directly owns 57,371 shares in the company, valued at $4,570,747.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,992 shares of company stock valued at $6,132,335. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Riggs Asset Managment Co. Inc. grew its stake in CRISPR Therapeutics by 66.7% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock worth $34,000 after buying an additional 200 shares during the last quarter. Signaturefd LLC lifted its stake in CRISPR Therapeutics by 12.5% during the third quarter. Signaturefd LLC now owns 2,124 shares of the company’s stock valued at $96,000 after buying an additional 236 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in shares of CRISPR Therapeutics by 10.8% in the third quarter. Itau Unibanco Holding S.A. now owns 2,521 shares of the company’s stock worth $114,000 after acquiring an additional 245 shares in the last quarter. Spire Wealth Management increased its position in shares of CRISPR Therapeutics by 32.7% in the third quarter. Spire Wealth Management now owns 1,052 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares in the last quarter. Finally, WealthPlan Investment Management LLC grew its position in CRISPR Therapeutics by 3.1% during the fourth quarter. WealthPlan Investment Management LLC now owns 9,663 shares of the company’s stock valued at $605,000 after purchasing an additional 288 shares in the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

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.