CRISPR Therapeutics’ (CRSP) Buy Rating Reaffirmed at Needham & Company LLC

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $84.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 115.16% from the company’s previous close.

Several other research firms have also issued reports on CRSP. Chardan Capital reissued a “buy” rating and issued a $94.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. StockNews.com raised CRISPR Therapeutics to a “sell” rating in a report on Monday, December 30th. Bank of America decreased their price target on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Barclays dropped their price objective on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $53.00 target price on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $78.38.

CRISPR Therapeutics Stock Performance

NASDAQ:CRSP opened at $39.04 on Tuesday. CRISPR Therapeutics has a 52-week low of $36.52 and a 52-week high of $91.10. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -13.80 and a beta of 1.62. The firm’s 50-day moving average is $45.46 and its 200-day moving average is $48.30.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.41. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. The firm had revenue of $0.60 million for the quarter, compared to the consensus estimate of $6.65 million. During the same quarter in the previous year, the company earned ($1.41) earnings per share. Equities analysts predict that CRISPR Therapeutics will post -5.13 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in CRISPR Therapeutics by 4.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,606 shares of the company’s stock valued at $249,000 after purchasing an additional 211 shares during the period. Boston Family Office LLC lifted its holdings in CRISPR Therapeutics by 2.2% in the third quarter. Boston Family Office LLC now owns 9,763 shares of the company’s stock valued at $459,000 after buying an additional 213 shares during the period. Bedell Frazier Investment Counselling LLC lifted its holdings in CRISPR Therapeutics by 0.8% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 26,357 shares of the company’s stock valued at $1,238,000 after buying an additional 218 shares during the period. The Manufacturers Life Insurance Company boosted its stake in CRISPR Therapeutics by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 12,477 shares of the company’s stock valued at $586,000 after acquiring an additional 231 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in CRISPR Therapeutics by 11.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,955 shares of the company’s stock worth $139,000 after acquiring an additional 300 shares during the period. Institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

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.