Crispr Therapeutics (NASDAQ:CRSP) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Crispr Therapeutics (NASDAQ:CRSP) from a hold rating to a buy rating in a research note released on Saturday, BidAskClub reports.

Other analysts also recently issued reports about the company. ValuEngine upgraded Crispr Therapeutics from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Needham & Company LLC restated a buy rating and set a $62.00 price objective on shares of Crispr Therapeutics in a report on Wednesday, July 31st. Canaccord Genuity began coverage on Crispr Therapeutics in a report on Friday, July 26th. They set a buy rating and a $72.00 price objective for the company. BTIG Research upped their price objective on Crispr Therapeutics from $51.00 to $59.00 and gave the stock a positive rating in a report on Tuesday, July 30th. Finally, Roth Capital upped their price objective on Crispr Therapeutics from $50.00 to $65.00 in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $58.00.

Shares of CRSP opened at $49.22 on Friday. The company has a market capitalization of $2.73 billion, a PE ratio of -14.31 and a beta of 3.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 13.96 and a current ratio of 13.96. The stock has a fifty day moving average of $47.74 and a two-hundred day moving average of $42.77. Crispr Therapeutics has a fifty-two week low of $22.22 and a fifty-two week high of $53.97.

Crispr Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Monday, July 29th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.84). The firm had revenue of $0.32 million for the quarter, compared to analyst estimates of $47.57 million. Crispr Therapeutics had a negative return on equity of 51.49% and a negative net margin of 15,136.56%. The company’s quarterly revenue was down 70.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.82) earnings per share. As a group, equities research analysts forecast that Crispr Therapeutics will post -3.86 earnings per share for the current fiscal year.

In related news, President Rodger Novak sold 50,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $50.00, for a total transaction of $2,500,000.00. Following the completion of the sale, the president now directly owns 848,007 shares of the company’s stock, valued at approximately $42,400,350. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lawrence Otto Klein sold 20,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $50.02, for a total transaction of $1,000,400.00. Following the sale, the insider now directly owns 31,579 shares of the company’s stock, valued at $1,579,581.58. The disclosure for this sale can be found here. 21.40% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Benjamin Edwards Inc. boosted its position in Crispr Therapeutics by 96.4% during the 2nd quarter. Benjamin Edwards Inc. now owns 546 shares of the company’s stock worth $26,000 after purchasing an additional 268 shares during the period. D. E. Shaw & Co. Inc. boosted its position in Crispr Therapeutics by 7.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 7,019 shares of the company’s stock worth $331,000 after purchasing an additional 467 shares during the period. US Bancorp DE boosted its position in Crispr Therapeutics by 553.7% during the 2nd quarter. US Bancorp DE now owns 621 shares of the company’s stock worth $29,000 after purchasing an additional 526 shares during the period. NumerixS Investment Technologies Inc boosted its position in Crispr Therapeutics by 22.9% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,950 shares of the company’s stock worth $139,000 after purchasing an additional 550 shares during the period. Finally, BSW Wealth Partners purchased a new stake in Crispr Therapeutics during the 2nd quarter worth $39,000. 50.25% of the stock is owned by hedge funds and other institutional investors.

Crispr Therapeutics Company Profile

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, an ex vivo CRISPR gene-edited therapy for treating patients suffering from dependent beta thalassemia or severe sickle cell disease in which a patient's hematopoietic stem cells are engineered to produce high levels of fetal hemoglobin in red blood cells.

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