CRISPR Therapeutics (NASDAQ:CRSP) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a research note published on Thursday,Benzinga reports. The firm currently has a $86.00 price objective on the stock.

A number of other research analysts have also issued reports on CRSP. Bank of America dropped their price objective on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. HC Wainwright reaffirmed a “buy” rating and set a $65.00 price target on shares of CRISPR Therapeutics in a research note on Thursday. Barclays lifted their price target on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday. Finally, Chardan Capital cut their target price on CRISPR Therapeutics from $94.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $74.05.

CRISPR Therapeutics Price Performance

Shares of CRISPR Therapeutics stock opened at $43.49 on Thursday. The company’s 50 day moving average price is $42.06 and its two-hundred day moving average price is $46.25. The firm has a market capitalization of $3.71 billion, a P/E ratio of -15.37 and a beta of 1.67. CRISPR Therapeutics has a fifty-two week low of $36.52 and a fifty-two week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. On average, analysts expect that CRISPR Therapeutics will post -5.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Samarth Kulkarni sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.10, for a total value of $826,500.00. Following the completion of the sale, the chief executive officer now directly owns 181,540 shares in the company, valued at $10,002,854. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRSP. Wilmington Savings Fund Society FSB acquired a new position in shares of CRISPR Therapeutics during the third quarter worth approximately $40,000. Darwin Wealth Management LLC bought a new stake in CRISPR Therapeutics during the 3rd quarter valued at $43,000. Highline Wealth Partners LLC acquired a new position in CRISPR Therapeutics during the fourth quarter worth $39,000. Western Pacific Wealth Management LP grew its holdings in shares of CRISPR Therapeutics by 100.0% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after buying an additional 500 shares during the last quarter. Finally, Eastern Bank bought a new stake in shares of CRISPR Therapeutics during the third quarter worth about $70,000. 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.