CRISPR Therapeutics (NASDAQ:CRSP) Price Target Raised to $70.00

CRISPR Therapeutics (NASDAQ:CRSP – Get Rating) had its target price upped by Citigroup from $55.00 to $70.00 in a research report released on Tuesday morning, The Fly reports.

A number of other equities research analysts also recently weighed in on CRSP. VNET Group reaffirmed a reiterates rating on shares of CRISPR Therapeutics in a report on Tuesday, May 9th. Robert W. Baird assumed coverage on CRISPR Therapeutics in a report on Monday, March 6th. They set a neutral rating and a $46.00 price objective on the stock. Stifel Nicolaus cut their price objective on CRISPR Therapeutics from $69.00 to $64.00 in a report on Tuesday, May 9th. Bryan, Garnier & Co assumed coverage on CRISPR Therapeutics in a report on Friday, March 17th. They set a buy rating and a $70.00 price objective on the stock. Finally, Chardan Capital cut their price objective on CRISPR Therapeutics from $153.00 to $123.00 and set a buy rating on the stock in a report on Wednesday, February 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, CRISPR Therapeutics has an average rating of Hold and an average target price of $74.89.

CRISPR Therapeutics Stock Performance

Shares of CRSP stock opened at $63.85 on Tuesday. The stock’s fifty day moving average price is $52.18 and its two-hundred day moving average price is $50.74. The company has a market cap of $5.04 billion, a PE ratio of -9.50 and a beta of 1.71. CRISPR Therapeutics has a fifty-two week low of $38.94 and a fifty-two week high of $86.95.

CRISPR Therapeutics (NASDAQ:CRSP – Get Rating) last issued its earnings results on Monday, May 8th. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.97. The firm had revenue of $100.00 million for the quarter, compared to the consensus estimate of $24.33 million. CRISPR Therapeutics had a negative return on equity of 26.64% and a negative net margin of 516.43%. The company’s revenue was up 10538.3% compared to the same quarter last year. During the same quarter last year, the business posted ($2.32) EPS. On average, equities analysts predict that CRISPR Therapeutics will post -6.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Samarth Kulkarni sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $50.67, for a total transaction of $1,266,750.00. Following the transaction, the chief executive officer now directly owns 387,377 shares of the company’s stock, valued at approximately $19,628,392.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders have sold 75,000 shares of company stock valued at $3,584,500. 4.10% of the stock is owned by company insiders.

Institutional Trading of CRISPR Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in shares of CRISPR Therapeutics by 2,440.0% in the third quarter. EverSource Wealth Advisors LLC now owns 381 shares of the company’s stock worth $25,000 after purchasing an additional 366 shares during the last quarter. Hollencrest Capital Management purchased a new stake in shares of CRISPR Therapeutics in the fourth quarter worth approximately $25,000. Whittier Trust Co. raised its stake in shares of CRISPR Therapeutics by 224.0% in the fourth quarter. Whittier Trust Co. now owns 674 shares of the company’s stock worth $27,000 after purchasing an additional 466 shares during the last quarter. HM Payson & Co. grew its holdings in shares of CRISPR Therapeutics by 104.2% in the fourth quarter. HM Payson & Co. now owns 980 shares of the company’s stock valued at $40,000 after acquiring an additional 500 shares in the last quarter. Finally, Pinnacle Holdings LLC bought a new position in shares of CRISPR Therapeutics in the first quarter valued at approximately $48,000. 71.51% of the stock is owned by hedge funds and other institutional investors.

About CRISPR Therapeutics

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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.