Citigroup Increases CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $83.00

CRISPR Therapeutics (NASDAQ:CRSP – Get Rating) had its target price lifted by Citigroup from $53.00 to $83.00 in a report issued on Tuesday morning, The Fly reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Barclays decreased their price target on shares of CRISPR Therapeutics from $107.00 to $99.00 in a research report on Tuesday, May 10th. Oppenheimer reduced their price objective on shares of CRISPR Therapeutics from $150.00 to $122.00 and set an outperform rating on the stock in a research note on Thursday, June 23rd. The Goldman Sachs Group reduced their price objective on shares of CRISPR Therapeutics from $52.00 to $46.00 and set a neutral rating on the stock in a research note on Tuesday, May 24th. Chardan Capital reduced their price objective on shares of CRISPR Therapeutics from $168.00 to $164.00 and set a buy rating on the stock in a research note on Wednesday, June 22nd. Finally, BMO Capital Markets initiated coverage on shares of CRISPR Therapeutics in a research note on Thursday, June 16th. They issued an outperform rating and a $98.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $116.19.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ CRSP opened at $76.34 on Tuesday. CRISPR Therapeutics has a 52-week low of $42.51 and a 52-week high of $142.64. The firm has a 50 day moving average price of $69.22 and a two-hundred day moving average price of $62.80. The stock has a market cap of $5.91 billion, a P/E ratio of 21.15 and a beta of 1.93.

CRISPR Therapeutics (NASDAQ:CRSP – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported ($2.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.91) by ($0.41). CRISPR Therapeutics had a net margin of 34.04% and a return on equity of 12.77%. The business had revenue of $0.94 million during the quarter, compared to analyst estimates of $2.45 million. During the same quarter last year, the company posted ($1.51) earnings per share. The company’s revenue was up 74.4% compared to the same quarter last year. Analysts predict that CRISPR Therapeutics will post -8.98 earnings per share for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $75.91, for a total value of $1,897,750.00. Following the transaction, the chief executive officer now directly owns 290,279 shares of the company’s stock, valued at $22,035,078.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of CRISPR Therapeutics in the first quarter valued at about $289,982,000. Nikko Asset Management Americas Inc. raised its holdings in shares of CRISPR Therapeutics by 31.3% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 4,319,471 shares of the company’s stock valued at $330,526,000 after purchasing an additional 1,029,955 shares during the last quarter. BlackRock Inc. raised its holdings in shares of CRISPR Therapeutics by 79.2% in the first quarter. BlackRock Inc. now owns 2,278,774 shares of the company’s stock valued at $143,038,000 after purchasing an additional 1,007,246 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of CRISPR Therapeutics by 261.4% in the first quarter. Vanguard Group Inc. now owns 1,217,289 shares of the company’s stock valued at $76,410,000 after purchasing an additional 880,463 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of CRISPR Therapeutics in the fourth quarter valued at about $43,865,000. 56.12% of the stock is owned by institutional investors.

CRISPR Therapeutics Company Profile

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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.