CRISPR Therapeutics (NASDAQ:CRSP) Issues Quarterly Earnings Results

CRISPR Therapeutics (NASDAQ:CRSP) released its earnings results on Wednesday. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08), Briefing.com reports. The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $25.53 million. During the same period in the prior year, the firm earned ($0.67) EPS. The firm’s quarterly revenue was down 99.5% on a year-over-year basis.

CRISPR Therapeutics Stock Up 0.5 %

CRSP stock opened at $53.55 on Friday. The business’s 50-day simple moving average is $65.19 and its 200 day simple moving average is $64.56. The company has a market cap of $4.55 billion, a PE ratio of -27.32 and a beta of 1.80. CRISPR Therapeutics has a twelve month low of $37.55 and a twelve month high of $91.10.

Analyst Ratings Changes

CRSP has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating for the company in a research report on Thursday. Wolfe Research initiated coverage on shares of CRISPR Therapeutics in a research note on Thursday, February 15th. They set a “peer perform” rating for the company. Chardan Capital upped their price target on shares of CRISPR Therapeutics from $110.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Barclays reduced their price objective on CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Morgan Stanley upped their target price on CRISPR Therapeutics from $46.00 to $48.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus target price of $74.43.

Insiders Place Their Bets

In related news, General Counsel James R. Kasinger sold 1,913 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total value of $152,408.71. Following the completion of the transaction, the general counsel now directly owns 57,371 shares in the company, valued at $4,570,747.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Samarth Kulkarni sold 19,582 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the transaction, the chief executive officer now owns 208,122 shares in the company, valued at approximately $12,468,589.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel James R. Kasinger sold 1,913 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $79.67, for a total transaction of $152,408.71. Following the completion of the sale, the general counsel now owns 57,371 shares of the company’s stock, valued at approximately $4,570,747.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,992 shares of company stock worth $6,132,335. 4.10% of the stock is currently owned by company insiders.

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.