Needham & Company LLC Begins Coverage on Crispr Therapeutics (CRSP)

Needham & Company LLC initiated coverage on shares of Crispr Therapeutics (NASDAQ:CRSP) in a research note issued to investors on Friday, Marketbeat reports. The brokerage issued a buy rating and a $62.00 price target on the stock.

A number of other research analysts also recently commented on CRSP. Zacks Investment Research downgraded Crispr Therapeutics from a buy rating to a hold rating in a research note on Monday, November 12th. BidaskClub raised Crispr Therapeutics from a sell rating to a hold rating in a research note on Saturday, November 3rd. Chardan Capital reaffirmed a buy rating and issued a $72.50 price target on shares of Crispr Therapeutics in a research note on Wednesday, August 8th. Wells Fargo & Co began coverage on Crispr Therapeutics in a research note on Wednesday, October 10th. They issued an outperform rating and a $65.00 price target for the company. Finally, Raymond James began coverage on Crispr Therapeutics in a research note on Thursday, September 20th. They issued an underperform rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $62.42.

CRSP stock opened at $38.33 on Friday. Crispr Therapeutics has a 52 week low of $17.40 and a 52 week high of $73.90.

Crispr Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Thursday, November 8th. The company reported ($1.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.74) by ($0.33). The company had revenue of $0.56 million during the quarter, compared to analyst estimates of $2.64 million. Crispr Therapeutics had a negative net margin of 331.84% and a negative return on equity of 40.41%. The firm’s revenue for the quarter was down 76.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.62) EPS. As a group, equities research analysts anticipate that Crispr Therapeutics will post -3.26 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. acquired a new position in Crispr Therapeutics during the second quarter worth about $116,000. Signaturefd LLC raised its stake in Crispr Therapeutics by 123.8% during the second quarter. Signaturefd LLC now owns 2,350 shares of the company’s stock worth $138,000 after acquiring an additional 1,300 shares in the last quarter. SeaCrest Wealth Management LLC raised its stake in Crispr Therapeutics by 202.9% during the second quarter. SeaCrest Wealth Management LLC now owns 2,726 shares of the company’s stock worth $160,000 after acquiring an additional 1,826 shares in the last quarter. TRUE Private Wealth Advisors acquired a new position in Crispr Therapeutics during the third quarter worth about $122,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Crispr Therapeutics by 66.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,827 shares of the company’s stock worth $166,000 after acquiring an additional 1,127 shares in the last quarter. 43.88% of the stock is owned by hedge funds and other institutional investors.

About Crispr Therapeutics

CRISPR Therapeutics AG, a gene editing company, focuses on developing transformative gene-based medicines for the treatment of serious human diseases using its regularly interspaced short palindromic repeats associated protein-9 (CRISPR/Cas9) gene-editing platform in Switzerland. Its lead product candidate is CTX001, which targets sickle cell disease and beta-thalassemia with an ex vivo approach whereby cells are harvested from a patient, treated with a CRISPR/Cas9-based therapeutic and reintroduced into the patient.

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Analyst Recommendations for Crispr Therapeutics (NASDAQ:CRSP)

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