Morgan Stanley Forecasts Strong Price Appreciation for CRISPR Therapeutics (NASDAQ:CRSP) Stock

CRISPR Therapeutics (NASDAQ:CRSP - Free Report) had its price objective lifted by Morgan Stanley from $30.00 to $32.00 in a report published on Friday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

CRSP has been the topic of several other reports. Barclays boosted their target price on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. Needham & Company LLC reiterated a "buy" rating and issued a $84.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, February 12th. TD Cowen upgraded CRISPR Therapeutics from a "sell" rating to a "hold" rating and set a $35.00 target price for the company in a research note on Wednesday, February 12th. Royal Bank of Canada decreased their target price on shares of CRISPR Therapeutics from $53.00 to $48.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 12th. Finally, Truist Financial increased their target price on CRISPR Therapeutics from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $74.50.

CRISPR Therapeutics Trading Up 14.3 %

CRSP traded up $6.23 on Friday, hitting $49.72. 7,735,783 shares of the company's stock were exchanged, compared to its average volume of 1,933,963. The firm has a market cap of $4.24 billion, a PE ratio of -17.57 and a beta of 1.67. CRISPR Therapeutics has a twelve month low of $36.52 and a twelve month high of $91.10. The stock has a fifty day moving average of $41.89 and a two-hundred day moving average of $46.02.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, beating analysts' consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. On average, analysts predict that CRISPR Therapeutics will post -5.08 EPS for the current year.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.10, for a total value of $826,500.00. Following the completion of the transaction, the chief executive officer now owns 181,540 shares of the company's stock, valued at approximately $10,002,854. The trade was a 7.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of CRISPR Therapeutics during the 3rd quarter valued at about $40,000. Darwin Wealth Management LLC bought a new stake in CRISPR Therapeutics during the 3rd quarter valued at $43,000. Highline Wealth Partners LLC bought a new position in CRISPR Therapeutics during the 4th quarter worth about $39,000. Western Pacific Wealth Management LP boosted its position in CRISPR Therapeutics by 100.0% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company's stock valued at $39,000 after acquiring an additional 500 shares in the last quarter. Finally, Eastern Bank purchased a new stake in shares of CRISPR Therapeutics during the third quarter valued at about $70,000. 69.20% of the stock is owned by institutional investors.

About CRISPR Therapeutics

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.