CRISPR Therapeutics (NASDAQ:CRSP) Price Target Cut to $89.00 by Analysts at Bank of America

CRISPR Therapeutics (NASDAQ:CRSP) had its price target reduced by Bank of America from $90.00 to $89.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 46.72% from the company’s current price.

A number of other analysts have also commented on CRSP. Robert W. Baird lowered their price objective on CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Wedbush reduced their target price on CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Wednesday. Wells Fargo & Company set a $75.00 price objective on shares of CRISPR Therapeutics in a report on Monday, October 13th. Finally, Royal Bank Of Canada lifted their target price on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 11th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CRISPR Therapeutics currently has a consensus rating of “Hold” and an average price target of $68.15.

CRISPR Therapeutics Trading Up 10.8%

Shares of CRSP stock opened at $60.66 on Thursday. CRISPR Therapeutics has a 1 year low of $30.04 and a 1 year high of $78.48. The firm has a market capitalization of $5.78 billion, a P/E ratio of -10.85 and a beta of 1.70. The firm’s fifty day simple moving average is $54.88 and its 200 day simple moving average is $58.35.

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

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 60,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $60.23, for a total value of $3,613,800.00. Following the transaction, the chief executive officer owned 134,201 shares in the company, valued at approximately $8,082,926.23. This represents a 30.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRSP. Koss Olinger Consulting LLC boosted its position in shares of CRISPR Therapeutics by 29.8% during the second quarter. Koss Olinger Consulting LLC now owns 42,197 shares of the company’s stock valued at $2,052,000 after buying an additional 9,685 shares during the last quarter. IVC Wealth Advisors LLC bought a new stake in shares of CRISPR Therapeutics during the 2nd quarter valued at about $225,000. Slow Capital Inc. increased its stake in CRISPR Therapeutics by 15.6% in the second quarter. Slow Capital Inc. now owns 75,396 shares of the company’s stock valued at $3,667,000 after acquiring an additional 10,152 shares during the last quarter. Legal & General Group Plc raised its position in CRISPR Therapeutics by 59.7% during the second quarter. Legal & General Group Plc now owns 129,567 shares of the company’s stock valued at $6,302,000 after purchasing an additional 48,412 shares in the last quarter. Finally, Intellectus Partners LLC bought a new stake in CRISPR Therapeutics during the second quarter worth about $284,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.