CRISPR Therapeutics (NASDAQ:CRSP) Given New $56.00 Price Target at Barclays

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective raised by Barclays from $55.00 to $56.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research analysts have also recently issued reports on CRSP. HC Wainwright initiated coverage on CRISPR Therapeutics in a research note on Monday, February 3rd. They issued a “buy” rating and a $65.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $53.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Bank of America reduced their price objective on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday. Finally, TD Cowen upgraded CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price objective for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $76.11.

CRISPR Therapeutics Price Performance

Shares of NASDAQ CRSP opened at $43.30 on Wednesday. The business has a 50-day simple moving average of $42.06 and a two-hundred day simple moving average of $46.25. CRISPR Therapeutics has a fifty-two week low of $36.52 and a fifty-two week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. As a group, equities research analysts forecast that CRISPR Therapeutics will post -5.08 earnings per share for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 15,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $55.10, for a total value of $826,500.00. Following the sale, the chief executive officer now directly owns 181,540 shares of the company’s stock, valued at $10,002,854. The trade was a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC acquired a new position in CRISPR Therapeutics during the fourth quarter worth $39,000. Western Pacific Wealth Management LP boosted its stake in CRISPR Therapeutics by 100.0% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after buying an additional 500 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in CRISPR Therapeutics during the third quarter worth $40,000. Darwin Wealth Management LLC acquired a new position in CRISPR Therapeutics during the third quarter worth $43,000. Finally, Eastern Bank acquired a new position in CRISPR Therapeutics during the third quarter worth $70,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

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.