Crispr Therapeutics (NASDAQ:CRSP) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, November 15th, BidAskClub reports.
Other equities analysts have also issued research reports about the company. Barclays upped their price target on Crispr Therapeutics from $59.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and issued a $62.00 price objective on shares of Crispr Therapeutics in a report on Wednesday, July 31st. Canaccord Genuity initiated coverage on shares of Crispr Therapeutics in a report on Friday, July 26th. They issued a “buy” rating and a $72.00 target price for the company. Chardan Capital set a $72.50 price target on Crispr Therapeutics and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Oppenheimer raised Crispr Therapeutics from a “market perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $69.54.
NASDAQ CRSP opened at $73.13 on Friday. Crispr Therapeutics has a fifty-two week low of $22.22 and a fifty-two week high of $74.00. The firm has a market capitalization of $4.04 billion, a P/E ratio of -21.26 and a beta of 3.30. The stock’s fifty day moving average is $52.76 and its two-hundred day moving average is $46.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 8.32 and a current ratio of 8.32.
Crispr Therapeutics (NASDAQ:CRSP) last posted its earnings results on Monday, October 28th. The company reported $2.40 earnings per share for the quarter, beating the consensus estimate of ($0.95) by $3.35. The company had revenue of $211.93 million for the quarter, compared to analyst estimates of $6.32 million. Crispr Therapeutics had a negative net margin of 5.30% and a negative return on equity of 2.60%. As a group, sell-side analysts forecast that Crispr Therapeutics will post 0.65 EPS for the current year.
In other Crispr Therapeutics news, Director Pablo J. Cagnoni sold 7,500 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $55.00, for a total value of $412,500.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at $412,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Rodger Novak sold 33,618 shares of the company’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 completion of the transaction, the president now owns 33,618 shares of the company’s stock, valued at approximately $2,353,260. The disclosure for this sale can be found here. Insiders sold a total of 56,118 shares of company stock worth $3,620,760 over the last 90 days. Company insiders own 21.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Nikko Asset Management Americas Inc. lifted its stake in Crispr Therapeutics by 324.3% in the second quarter. Nikko Asset Management Americas Inc. now owns 1,871,408 shares of the company’s stock valued at $88,143,000 after buying an additional 1,430,364 shares during the last quarter. ARK Investment Management LLC raised its position in Crispr Therapeutics by 34.7% in the 2nd quarter. ARK Investment Management LLC now owns 2,724,349 shares of the company’s stock valued at $128,317,000 after purchasing an additional 701,332 shares during the last quarter. Orbimed Advisors LLC acquired a new stake in Crispr Therapeutics during the 3rd quarter worth $21,167,000. Price T Rowe Associates Inc. MD grew its position in Crispr Therapeutics by 19.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 738,869 shares of the company’s stock worth $34,801,000 after purchasing an additional 121,176 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Crispr Therapeutics by 23.9% in the second quarter. Wells Fargo & Company MN now owns 603,905 shares of the company’s stock valued at $28,443,000 after purchasing an additional 116,540 shares during the period. Hedge funds and other institutional investors own 49.81% of the company’s stock.
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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