CRISPR Therapeutics (NASDAQ:CRSP) Stock Rating Reaffirmed by Needham & Company LLC

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They presently have a $88.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 62.93% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Barclays reduced their price target on shares of CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Oppenheimer reduced their price target on shares of CRISPR Therapeutics from $102.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Wells Fargo & Company reduced their price target on shares of CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Finally, JMP Securities restated a “market outperform” rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a report on Thursday, May 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.71.

CRISPR Therapeutics Trading Down 2.5 %

CRSP stock opened at $54.01 on Thursday. The firm’s 50-day moving average price is $56.72 and its two-hundred day moving average price is $64.46. CRISPR Therapeutics has a 12-month low of $37.55 and a 12-month high of $91.10. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of -19.86 and a beta of 1.78.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The business had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $25.53 million. During the same quarter last year, the firm earned ($0.67) EPS. The company’s revenue for the quarter was down 99.5% on a year-over-year basis. Equities analysts predict that CRISPR Therapeutics will post -5.51 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 19,582 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the transaction, the chief executive officer now owns 208,122 shares in the company, valued at $12,468,589.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Samarth Kulkarni sold 19,582 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the transaction, the chief executive officer now owns 208,122 shares in the company, valued at $12,468,589.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Julianne Bruno sold 3,366 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $56.09, for a total transaction of $188,798.94. Following the transaction, the chief operating officer now owns 6,745 shares in the company, valued at approximately $378,327.05. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRSP. Blue Trust Inc. bought a new position in CRISPR Therapeutics in the fourth quarter worth approximately $32,000. Bourgeon Capital Management LLC increased its stake 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 worth $34,000 after purchasing an additional 500 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its stake in shares of CRISPR Therapeutics by 66.7% in the first quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of CRISPR Therapeutics in the fourth quarter worth $41,000. Finally, NBC Securities Inc. increased its stake in shares of CRISPR Therapeutics by 257.6% in the first quarter. NBC Securities Inc. now owns 608 shares of the company’s stock worth $41,000 after purchasing an additional 438 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors.

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.