Needham & Company LLC Reaffirms “Buy” Rating for CRISPR Therapeutics (NASDAQ:CRSP)

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating restated by Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $84.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 61.91% from the stock’s current price.

CRSP has been the subject of several other research reports. Royal Bank of Canada lowered their price target on shares of CRISPR Therapeutics from $60.00 to $53.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Chardan Capital dropped their target price on CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Rodman & Renshaw initiated coverage on CRISPR Therapeutics in a research report on Friday, August 2nd. They issued a “buy” rating and a $90.00 price target for the company. StockNews.com raised CRISPR Therapeutics to a “sell” rating in a research report on Tuesday, October 29th. Finally, Stifel Nicolaus decreased their price target on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.94.

CRISPR Therapeutics Stock Up 2.3 %

Shares of NASDAQ:CRSP opened at $51.88 on Wednesday. The business’s 50 day moving average is $47.38 and its 200 day moving average is $52.24. The stock has a market cap of $4.41 billion, a P/E ratio of -16.06 and a beta of 1.67. CRISPR Therapeutics has a 52-week low of $43.42 and a 52-week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.41. The firm had revenue of $0.60 million for the quarter, compared to analysts’ expectations of $6.65 million. During the same quarter in the prior year, the business posted ($1.41) EPS. On average, sell-side analysts anticipate that CRISPR Therapeutics will post -5.57 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Global Trust Asset Management LLC grew its position in CRISPR Therapeutics by 150.0% during the 2nd quarter. Global Trust Asset Management LLC now owns 500 shares of the company’s stock worth $27,000 after purchasing an additional 300 shares during the period. Larson Financial Group LLC boosted its stake 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 worth $31,000 after buying an additional 276 shares during the last quarter. GPS Wealth Strategies Group LLC grew its holdings in CRISPR Therapeutics by 99.7% during the second quarter. GPS Wealth Strategies Group LLC now owns 615 shares of the company’s stock worth $33,000 after acquiring an additional 307 shares during the period. Itau Unibanco Holding S.A. acquired a new position in CRISPR Therapeutics in the second quarter valued at approximately $35,000. Finally, Denver PWM LLC purchased a new stake in CRISPR Therapeutics in the 2nd quarter worth approximately $45,000. 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.