Equities research analysts expect Crispr Therapeutics AG (NASDAQ:CRSP) to announce $59.43 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Crispr Therapeutics’ earnings, with estimates ranging from $14.30 million to $76.70 million. Crispr Therapeutics reported sales of $120,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 49,425%. The firm is scheduled to announce its next quarterly earnings results on Monday, February 24th.
According to Zacks, analysts expect that Crispr Therapeutics will report full-year sales of $272.00 million for the current financial year, with estimates ranging from $226.90 million to $289.27 million. For the next fiscal year, analysts forecast that the business will post sales of $30.04 million, with estimates ranging from $2.03 million to $58.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Crispr Therapeutics.
Crispr Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Monday, October 28th. The company reported $2.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.95) by $3.35. The company had revenue of $211.93 million for the quarter, compared to analysts’ expectations of $6.32 million. Crispr Therapeutics had a negative return on equity of 2.60% and a negative net margin of 5.30%.
Several equities research analysts have weighed in on the company. Canaccord Genuity increased their price target on Crispr Therapeutics from $72.00 to $80.00 and gave the stock a “positive” rating in a research report on Wednesday, November 20th. Piper Jaffray Companies reiterated a “buy” rating and issued a $104.00 target price on shares of Crispr Therapeutics in a report on Monday, December 16th. Goldman Sachs Group lifted their price objective on shares of Crispr Therapeutics from $52.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. William Blair upgraded shares of Crispr Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 19th. Finally, BidaskClub lowered shares of Crispr Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $71.38.
Shares of CRSP stock traded down $1.59 during trading hours on Thursday, reaching $59.32. 1,724,512 shares of the company’s stock were exchanged, compared to its average volume of 979,781. The stock’s 50 day moving average is $65.89 and its 200-day moving average is $51.06. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -17.24 and a beta of 3.31. The company has a current ratio of 8.32, a quick ratio of 8.32 and a debt-to-equity ratio of 0.06. Crispr Therapeutics has a fifty-two week low of $27.50 and a fifty-two week high of $74.00.
In related news, President Rodger Novak sold 33,618 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $70.00, for a total transaction of $2,353,260.00. Following the transaction, the president now owns 33,618 shares of the company’s stock, valued at $2,353,260. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pablo J. Cagnoni sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total transaction of $390,000.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $390,000. The disclosure for this sale can be found here. Insiders have sold 56,118 shares of company stock worth $3,620,760 in the last ninety days. 21.40% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Nikko Asset Management Americas Inc. increased its position in Crispr Therapeutics by 48.4% during the third quarter. Nikko Asset Management Americas Inc. now owns 2,777,414 shares of the company’s stock worth $113,846,000 after acquiring an additional 906,006 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Crispr Therapeutics by 19.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 738,869 shares of the company’s stock valued at $34,801,000 after buying an additional 121,176 shares during the period. Wells Fargo & Company MN increased its holdings in Crispr Therapeutics by 23.9% in the 2nd quarter. Wells Fargo & Company MN now owns 603,905 shares of the company’s stock valued at $28,443,000 after buying an additional 116,540 shares during the period. Orbimed Advisors LLC bought a new stake in Crispr Therapeutics in the 3rd quarter valued at $21,167,000. Finally, Morgan Stanley increased its holdings in Crispr Therapeutics by 6.1% in the 2nd quarter. Morgan Stanley now owns 284,984 shares of the company’s stock valued at $13,423,000 after buying an additional 16,361 shares during the period. 49.82% of the stock is currently owned by institutional investors and hedge funds.
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, 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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