CRISPR Therapeutics' (CRSP) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP - Free Report) in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $84.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on CRSP. Truist Financial dropped their target price on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, August 12th. Royal Bank of Canada decreased their price target on shares of CRISPR Therapeutics from $60.00 to $53.00 and set a "sector perform" rating on the stock in a research note on Friday, October 4th. Chardan Capital reduced their price objective on CRISPR Therapeutics from $112.00 to $94.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of CRISPR Therapeutics in a report on Thursday, August 8th. Finally, Barclays lowered their price objective on shares of CRISPR Therapeutics from $67.00 to $59.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 6th. Three research 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. According to data from MarketBeat.com, CRISPR Therapeutics currently has an average rating of "Hold" and an average target price of $74.94.

CRISPR Therapeutics Stock Performance

CRISPR Therapeutics stock traded down $0.11 during midday trading on Wednesday, reaching $50.25. The stock had a trading volume of 1,674,780 shares, compared to its average volume of 1,452,997. CRISPR Therapeutics has a 1-year low of $43.42 and a 1-year high of $91.10. The stock has a market capitalization of $4.27 billion, a P/E ratio of -15.48 and a beta of 1.67. The firm's fifty day simple moving average is $47.22 and its 200-day simple moving average is $52.25.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.41. The business had revenue of $0.60 million for the quarter, compared to the consensus estimate of $6.65 million. During the same period last year, the firm earned ($1.41) earnings per share. On average, sell-side analysts anticipate that CRISPR Therapeutics will post -5.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 4,293 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $198,680.04. Following the sale, the chief executive officer now owns 226,540 shares in the company, valued at $10,484,271.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, General Counsel James R. Kasinger sold 1,089 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $50,398.92. Following 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Samarth Kulkarni sold 4,293 shares of the business's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $198,680.04. Following the completion of the transaction, the chief executive officer now directly owns 226,540 shares of the company's stock, valued at approximately $10,484,271.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC grew its stake in CRISPR Therapeutics by 51.8% in the 1st quarter. Private Advisor Group LLC now owns 13,551 shares of the company's stock valued at $923,000 after acquiring an additional 4,625 shares during the period. BNP Paribas Financial Markets boosted its holdings in CRISPR Therapeutics by 252.2% in the 1st quarter. BNP Paribas Financial Markets now owns 148,942 shares of the company's stock worth $10,152,000 after buying an additional 106,652 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of CRISPR Therapeutics by 55.5% during the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the company's stock valued at $59,000 after acquiring an additional 311 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of CRISPR Therapeutics by 12.3% in the first quarter. Oppenheimer & Co. Inc. now owns 29,692 shares of the company's stock worth $2,024,000 after acquiring an additional 3,257 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in CRISPR Therapeutics in the 1st quarter valued at $1,602,000. Hedge funds and other institutional investors 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.