JMP Securities Reaffirms "Market Outperform" Rating for CRISPR Therapeutics (NASDAQ:CRSP)

JMP Securities restated their market outperform rating on shares of CRISPR Therapeutics (NASDAQ:CRSP - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. JMP Securities currently has a $86.00 price objective on the stock.

Several other analysts have also issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $84.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Barclays reduced their price target on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $53.00 price objective on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. StockNews.com upgraded shares of CRISPR Therapeutics to a "sell" rating in a report on Wednesday, December 11th. Finally, Chardan Capital restated a "buy" rating and set a $94.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, CRISPR Therapeutics presently has an average rating of "Hold" and an average price target of $77.93.

CRISPR Therapeutics Stock Performance

Shares of CRSP stock traded up $0.34 on Friday, hitting $40.72. 3,344,844 shares of the stock traded hands, compared to its average volume of 1,522,809. CRISPR Therapeutics has a twelve month low of $39.41 and a twelve month high of $91.10. The stock has a market capitalization of $3.48 billion, a PE ratio of -14.39 and a beta of 1.62. The firm's 50-day moving average price is $48.57 and its two-hundred day moving average price is $50.89.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.41. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. The business had revenue of $0.60 million during the quarter, compared to analysts' expectations of $6.65 million. During the same quarter in the prior year, the company posted ($1.41) EPS. On average, equities research analysts anticipate that CRISPR Therapeutics will post -5.13 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other news, General Counsel James R. Kasinger sold 1,089 shares of the company's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the completion of the transaction, the general counsel now directly owns 62,597 shares of the company's stock, valued at approximately $2,896,989.16. This represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Samarth Kulkarni sold 30,000 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.62, for a total value of $1,668,600.00. Following the sale, the chief executive officer now directly owns 196,540 shares in the company, valued at $10,931,554.80. This trade represents a 13.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,382 shares of company stock valued at $2,744,179 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Baker BROS. Advisors LP boosted its stake in CRISPR Therapeutics by 743.1% in the third quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company's stock valued at $39,608,000 after acquiring an additional 743,075 shares in the last quarter. State Street Corp grew its stake in CRISPR Therapeutics by 25.0% during the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company's stock worth $140,611,000 after buying an additional 599,304 shares during the last quarter. Farallon Capital Management LLC acquired a new position in CRISPR Therapeutics during the second quarter worth approximately $28,625,000. Marshall Wace LLP purchased a new stake in CRISPR Therapeutics in the second quarter valued at approximately $10,078,000. Finally, Private Advisor Group LLC boosted its holdings in shares of CRISPR Therapeutics by 472.9% in the second quarter. Private Advisor Group LLC now owns 77,627 shares of the company's stock valued at $4,193,000 after acquiring an additional 64,076 shares during the period. Institutional investors and hedge funds own 69.20% of the company's stock.

CRISPR Therapeutics Company Profile

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.