Crispr Therapeutics (NASDAQ:CRSP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $44.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 5.31% from the company’s previous close.
According to Zacks, “CRISPR Therapeutics AG is a gene-editing company. It focused on the development of transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 gene-editing platform. CRISPR Therapeutics AG is headquartered in Basel, Switzerland. “
CRSP has been the subject of several other reports. Stifel Nicolaus assumed coverage on shares of Crispr Therapeutics in a report on Wednesday, March 4th. They set a “hold” rating and a $52.00 price target for the company. Citigroup lifted their price target on shares of Crispr Therapeutics from $28.00 to $31.00 and gave the company a “sell” rating in a report on Wednesday, March 4th. Piper Jaffray Companies reissued a “buy” rating and set a $104.00 price target on shares of Crispr Therapeutics in a report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $84.00 price target on shares of Crispr Therapeutics in a report on Monday, December 23rd. Finally, ValuEngine raised shares of Crispr Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $72.25.
Shares of CRSP stock opened at $41.78 on Tuesday. Crispr Therapeutics has a 12-month low of $32.30 and a 12-month high of $74.00. The company has a market capitalization of $2.41 billion, a P/E ratio of 43.07 and a beta of 2.74. The firm has a 50-day moving average price of $48.95 and a 200 day moving average price of $52.92.
Crispr Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $1.19. Crispr Therapeutics had a net margin of 23.09% and a return on equity of 11.74%. The firm had revenue of $77.00 million during the quarter, compared to the consensus estimate of $39.08 million. During the same period last year, the firm posted ($0.92) EPS. The firm’s quarterly revenue was up 76900.0% on a year-over-year basis. As a group, equities research analysts predict that Crispr Therapeutics will post -4.54 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nikko Asset Management Americas Inc. lifted its holdings in shares of Crispr Therapeutics by 9.8% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,049,553 shares of the company’s stock worth $185,733,000 after acquiring an additional 272,139 shares during the last quarter. ARK Investment Management LLC increased its position in Crispr Therapeutics by 6.3% during the 4th quarter. ARK Investment Management LLC now owns 2,956,635 shares of the company’s stock valued at $180,074,000 after purchasing an additional 174,495 shares during the period. FMR LLC increased its position in Crispr Therapeutics by 71.8% during the 4th quarter. FMR LLC now owns 952,369 shares of the company’s stock valued at $58,004,000 after purchasing an additional 398,012 shares during the period. Orbimed Advisors LLC acquired a new stake in Crispr Therapeutics during the 3rd quarter valued at approximately $21,167,000. Finally, Franklin Resources Inc. increased its position in Crispr Therapeutics by 2.6% during the 4th quarter. Franklin Resources Inc. now owns 435,644 shares of the company’s stock valued at $26,533,000 after purchasing an additional 11,031 shares during the period. Hedge funds and other institutional investors own 52.02% 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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