CRISPR Therapeutics (NASDAQ:CRSP) Receives Buy Rating from Needham & Company LLC

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $80.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 38.15% from the company’s current price.

Several other equities research analysts have also commented on the stock. Bank of America boosted their target price on shares of CRISPR Therapeutics from $78.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Citigroup reissued a “buy” rating and set a $77.00 price target (down previously from $87.00) on shares of CRISPR Therapeutics in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Wednesday, October 8th. Robert W. Baird lowered their target price on CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Finally, Royal Bank Of Canada boosted their price objective on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 11th. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, CRISPR Therapeutics currently has an average rating of “Hold” and an average target price of $68.35.

CRISPR Therapeutics Stock Up 3.7%

NASDAQ CRSP opened at $57.91 on Tuesday. The stock has a market capitalization of $5.52 billion, a P/E ratio of -10.36 and a beta of 1.74. CRISPR Therapeutics has a 52-week low of $30.04 and a 52-week high of $78.48. The firm has a 50-day moving average price of $58.36 and a 200 day moving average price of $56.97.

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

Insider Activity at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 50,895 shares of the company’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $67.91, for a total transaction of $3,456,279.45. Following the completion of the transaction, the chief executive officer owned 254,201 shares of the company’s stock, valued at $17,262,789.91. This represents a 16.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel James R. Kasinger sold 1,076 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total transaction of $71,661.60. Following the completion of the sale, the general counsel owned 83,402 shares of the company’s stock, valued at approximately $5,554,573.20. The trade was a 1.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 56,213 shares of company stock valued at $3,810,458 over the last ninety days. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in shares of CRISPR Therapeutics in the 1st quarter valued at about $25,000. Atlantic Union Bankshares Corp acquired a new position in CRISPR Therapeutics during the second quarter valued at approximately $33,000. Thompson Investment Management Inc. acquired a new position in CRISPR Therapeutics during the third quarter valued at approximately $33,000. Optiver Holding B.V. lifted its holdings in shares of CRISPR Therapeutics by 71.4% during the 3rd quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock valued at $33,000 after acquiring an additional 210 shares in the last quarter. Finally, Strategic Advocates LLC acquired a new stake in CRISPR Therapeutics in the 3rd quarter valued at $34,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

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.