Brokerages Set CRISPR Therapeutics AG (NASDAQ:CRSP) Target Price at $75.19

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) have received an average recommendation of “Hold” from the nineteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $75.19.

A number of equities research analysts have recently issued reports on CRSP shares. Barclays cut their price objective on shares of CRISPR Therapeutics from $67.00 to $59.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Rodman & Renshaw assumed coverage on CRISPR Therapeutics in a report on Friday, August 2nd. They set a “buy” rating and a $90.00 price target for the company. Needham & Company LLC cut their price objective on CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Chardan Capital decreased their target price on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Guggenheim reiterated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Friday, June 28th.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 4,293 shares of CRISPR Therapeutics stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $198,680.04. Following the completion of the transaction, the chief executive officer now directly owns 226,540 shares of the company’s stock, valued at $10,484,271.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the transaction, the general counsel now owns 62,597 shares of the company’s stock, valued at approximately $2,896,989.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Samarth Kulkarni sold 4,293 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $198,680.04. Following the completion of the sale, the chief executive officer now owns 226,540 shares of the company’s stock, valued at approximately $10,484,271.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CRSP. Capital International Investors lifted its position in shares of CRISPR Therapeutics by 27.8% during the first quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock worth $534,175,000 after purchasing an additional 1,702,624 shares during the last quarter. SR One Capital Management LP bought a new stake in CRISPR Therapeutics during the 1st quarter valued at about $71,496,000. Farallon Capital Management LLC purchased a new stake in CRISPR Therapeutics in the 2nd quarter valued at about $28,625,000. Avoro Capital Advisors LLC bought a new position in CRISPR Therapeutics in the 1st quarter worth about $28,599,000. Finally, Marshall Wace LLP purchased a new position in shares of CRISPR Therapeutics during the second quarter worth approximately $10,078,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Stock Performance

Shares of CRSP stock opened at $48.92 on Monday. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of -17.99 and a beta of 1.68. CRISPR Therapeutics has a one year low of $37.55 and a one year high of $91.10. The company’s 50-day moving average is $47.19 and its 200 day moving average is $53.26.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Monday, August 5th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The firm had revenue of $0.52 million for the quarter, compared to analysts’ expectations of $12.31 million. During the same period in the previous year, the company earned ($0.98) EPS. The firm’s revenue for the quarter was down 99.3% on a year-over-year basis. As a group, research analysts predict that CRISPR Therapeutics will post -5.6 earnings per share for the current fiscal year.

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.