CRISPR Therapeutics (NASDAQ:CRSP) Given New $85.00 Price Target at Bank of America

CRISPR Therapeutics (NASDAQ:CRSP) had its target price lowered by Bank of America from $98.00 to $85.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

CRSP has been the topic of several other reports. Royal Bank of Canada reissued a “sector perform” rating and set a $53.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Chardan Capital reissued a “buy” rating and set a $94.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price target on shares of CRISPR Therapeutics in a report on Friday, December 20th. 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 research report on Wednesday, November 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued 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 Stock Down 1.2 %

CRSP opened at $41.92 on Tuesday. CRISPR Therapeutics has a 52-week low of $38.20 and a 52-week high of $91.10. The company has a 50 day moving average of $46.63 and a two-hundred day moving average of $48.94. The company has a market cap of $3.58 billion, a P/E ratio of -14.81 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.41. The firm had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. During the same period in the prior year, the firm earned ($1.41) EPS. Research analysts anticipate that CRISPR Therapeutics will post -5.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel James R. Kasinger sold 1,089 shares of CRISPR Therapeutics stock in a transaction dated Monday, October 14th. The shares were 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 in the company, valued at $2,896,989.16. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Samarth Kulkarni sold 4,293 shares of the company’s 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 transaction, the chief executive officer now owns 226,540 shares of the company’s stock, valued at approximately $10,484,271.20. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,382 shares of company stock valued at $2,744,179 over the last quarter. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CRSP. Larson Financial Group LLC raised its stake in CRISPR Therapeutics by 95.5% during the 2nd quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock valued at $31,000 after acquiring an additional 276 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of CRISPR Therapeutics during the second quarter valued at about $35,000. Wilmington Savings Fund Society FSB acquired a new stake in CRISPR Therapeutics in the third quarter worth about $40,000. Darwin Wealth Management LLC bought a new position in CRISPR Therapeutics in the 3rd quarter valued at about $43,000. Finally, National Bank of Canada FI increased its stake in CRISPR Therapeutics by 35.0% during the 2nd quarter. National Bank of Canada FI now owns 848 shares of the company’s stock valued at $46,000 after buying an additional 220 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.

CRISPR Therapeutics Company Profile

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.