Bank of America Lowers CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $85.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price decreased by Bank of America from $98.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 100.61% from the stock’s current price.

Several other research analysts have also commented on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $53.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. JMP Securities restated a “market outperform” rating and set a $86.00 target price on shares of CRISPR Therapeutics in a research note on Friday, December 20th. Chardan Capital reiterated a “buy” rating and issued a $94.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, December 10th. Barclays decreased their price objective on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a research report on Monday, December 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, CRISPR Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $78.38.

CRISPR Therapeutics Price Performance

NASDAQ CRSP traded down $0.06 during trading hours on Tuesday, reaching $42.37. 914,086 shares of the stock traded hands, compared to its average volume of 1,604,360. The stock has a 50 day simple moving average of $46.77 and a two-hundred day simple moving average of $49.04. CRISPR Therapeutics has a 1 year low of $38.20 and a 1 year high of $91.10. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -14.97 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data 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. The firm had revenue of $0.60 million during the quarter, compared to analyst estimates of $6.65 million. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. During the same period in the previous year, the business posted ($1.41) EPS. On average, sell-side analysts forecast that CRISPR Therapeutics will post -5.13 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value 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 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Samarth Kulkarni sold 4,293 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $198,680.04. Following the transaction, the chief executive officer now directly owns 226,540 shares of the company’s stock, valued at $10,484,271.20. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,382 shares of company stock worth $2,744,179 in the last three months. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in shares of CRISPR Therapeutics by 95.5% in the second quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock valued at $31,000 after purchasing an additional 276 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of CRISPR Therapeutics in the 2nd quarter worth $35,000. Wilmington Savings Fund Society FSB bought a new stake in shares of CRISPR Therapeutics in the 3rd quarter worth about $40,000. Darwin Wealth Management LLC purchased a new stake in shares of CRISPR Therapeutics during the 3rd quarter valued at about $43,000. Finally, National Bank of Canada FI lifted its holdings in shares of CRISPR Therapeutics by 35.0% in the 2nd quarter. National Bank of Canada FI now owns 848 shares of the company’s stock valued at $46,000 after acquiring an additional 220 shares during the last quarter. Hedge funds and other institutional investors 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.