Citizens Jmp Lowers CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $80.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price reduced by equities researchers at Citizens Jmp from $86.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s target price would indicate a potential upside of 60.13% from the stock’s previous close.

A number of other research firms have also recently commented on CRSP. Wedbush reduced their target price on CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Bank of America reduced their price objective on CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Needham & Company LLC restated a “buy” rating and issued a $80.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, December 23rd. Robert W. Baird cut their target price on CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada lifted their price target on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 11th. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.85.

CRISPR Therapeutics Price Performance

NASDAQ:CRSP opened at $49.96 on Friday. CRISPR Therapeutics has a 1 year low of $30.04 and a 1 year high of $78.48. The stock’s fifty day moving average price is $55.08 and its two-hundred day moving average price is $58.28. The company has a market cap of $4.76 billion, a P/E ratio of -8.94 and a beta of 1.70.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.17) EPS for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.15. The company had revenue of $0.89 million during the quarter, compared to analyst estimates of $8.74 million. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. On average, analysts expect that CRISPR Therapeutics will post -5.16 earnings per share for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 60,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $60.23, for a total transaction of $3,613,800.00. Following the completion of the sale, the chief executive officer directly owned 134,201 shares in the company, valued at $8,082,926.23. This represents a 30.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.30% of the stock is currently owned by insiders.

Institutional Trading of CRISPR Therapeutics

Large investors have recently modified their holdings of the business. Koss Olinger Consulting LLC boosted its holdings in shares of CRISPR Therapeutics by 29.8% during the 2nd quarter. Koss Olinger Consulting LLC now owns 42,197 shares of the company’s stock valued at $2,052,000 after buying an additional 9,685 shares in the last quarter. IVC Wealth Advisors LLC bought a new position in shares of CRISPR Therapeutics in the 2nd quarter worth about $225,000. Slow Capital Inc. lifted its position in CRISPR Therapeutics by 15.6% during the 2nd quarter. Slow Capital Inc. now owns 75,396 shares of the company’s stock valued at $3,667,000 after acquiring an additional 10,152 shares during the period. Legal & General Group Plc boosted its stake in CRISPR Therapeutics by 59.7% during the second quarter. Legal & General Group Plc now owns 129,567 shares of the company’s stock worth $6,302,000 after acquiring an additional 48,412 shares in the last quarter. Finally, Intellectus Partners LLC purchased a new stake in CRISPR Therapeutics in the second quarter worth about $284,000. 69.20% of the stock is owned by institutional investors.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.