Zacks Investment Research upgraded shares of CRISPR Therapeutics (NASDAQ:CRSP) from a hold rating to a buy rating in a research note published on Wednesday. Zacks Investment Research currently has $71.00 price target on the stock.
According to Zacks, “CRISPR Therapeutics AG is a gene-editing company. It focused on the development of transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 gene-editing platform. CRISPR Therapeutics AG is headquartered in Basel, Switzerland. “
Several other equities analysts have also issued reports on CRSP. TheStreet lowered shares of CRISPR Therapeutics from a c rating to a d+ rating in a report on Friday, May 11th. BidaskClub raised shares of CRISPR Therapeutics from a buy rating to a strong-buy rating in a report on Monday, May 14th. Chardan Capital lifted their price target on shares of CRISPR Therapeutics from $25.00 to $72.50 and gave the stock a buy rating in a report on Tuesday, May 15th. ValuEngine raised shares of CRISPR Therapeutics from a sell rating to a hold rating in a report on Wednesday, February 28th. Finally, SunTrust Banks reaffirmed a buy rating and issued a $65.00 price target on shares of CRISPR Therapeutics in a report on Friday, March 9th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $65.90.
Shares of CRISPR Therapeutics opened at $69.57 on Wednesday, Marketbeat reports. The company has a market cap of $3.01 billion, a P/E ratio of -40.68 and a beta of 3.58. CRISPR Therapeutics has a 52-week low of $13.50 and a 52-week high of $69.90.
CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Wednesday, May 9th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.67) by $0.05. The company had revenue of $1.36 million for the quarter, compared to analyst estimates of $3.64 million. CRISPR Therapeutics had a negative net margin of 189.60% and a negative return on equity of 35.18%. CRISPR Therapeutics’s revenue was down 49.6% compared to the same quarter last year. During the same period last year, the company posted ($0.54) earnings per share. equities analysts predict that CRISPR Therapeutics will post -2.6 EPS for the current year.
In other CRISPR Therapeutics news, President Rodger Novak sold 75,000 shares of CRISPR Therapeutics stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $60.00, for a total value of $4,500,000.00. Following the transaction, the president now directly owns 1,183,247 shares of the company’s stock, valued at $70,994,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradley J. Phd Bolzon sold 101,994 shares of CRISPR Therapeutics stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $50.68, for a total transaction of $5,169,055.92. Following the completion of the transaction, the director now directly owns 43,986 shares in the company, valued at $2,229,210.48. The disclosure for this sale can be found here. Insiders sold 1,481,609 shares of company stock worth $78,569,522 over the last ninety days. Corporate insiders own 37.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CRSP. Wells Fargo & Company MN grew its holdings in shares of CRISPR Therapeutics by 129.8% during the third quarter. Wells Fargo & Company MN now owns 18,352 shares of the company’s stock valued at $328,000 after buying an additional 10,365 shares during the last quarter. Creative Planning purchased a new stake in shares of CRISPR Therapeutics during the fourth quarter valued at $243,000. K.J. Harrison & Partners Inc purchased a new stake in shares of CRISPR Therapeutics during the fourth quarter valued at $552,000. Global Thematic Partners LLC grew its holdings in shares of CRISPR Therapeutics by 11.2% during the fourth quarter. Global Thematic Partners LLC now owns 633,452 shares of the company’s stock valued at $14,873,000 after buying an additional 63,611 shares during the last quarter. Finally, Capital Advisors Inc. OK purchased a new stake in shares of CRISPR Therapeutics during the fourth quarter valued at $3,515,000. 39.27% of the stock is currently owned by hedge funds and other institutional investors.
About CRISPR Therapeutics
CRISPR Therapeutics AG, a gene editing company, focuses on developing transformative gene-based medicines for the treatment of serious human diseases using its regularly interspaced short palindromic repeats associated protein-9 (CRISPR/Cas9) gene-editing platform in Switzerland. Its lead product candidate is CTX001, which targets sickle cell disease and beta-thalassemia with an ex vivo approach whereby cells are harvested from a patient, treated with a CRISPR/Cas9-based therapeutic and reintroduced into the patient.
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