Citizens Jmp Lowers CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $80.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price decreased by Citizens Jmp from $86.00 to $80.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price target suggests a potential upside of 52.24% from the stock’s previous close.

CRSP has been the subject of several other reports. Royal Bank Of Canada increased their price objective on CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 11th. Needham & Company LLC restated a “buy” rating and set a $80.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, December 23rd. Wedbush lowered their price objective on CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Bank of America dropped their price target on CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Finally, Wells Fargo & Company set a $75.00 target price on CRISPR Therapeutics in a research note on Monday, October 13th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $67.85.

CRISPR Therapeutics Stock Performance

Shares of CRISPR Therapeutics stock opened at $52.55 on Friday. CRISPR Therapeutics has a one year low of $30.04 and a one year high of $78.48. The firm has a fifty day moving average of $55.08 and a two-hundred day moving average of $58.28. The company has a market cap of $5.01 billion, a P/E ratio of -9.40 and a beta of 1.70.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.17) earnings per share for the quarter, beating the consensus estimate of ($1.32) by $0.15. The firm had revenue of $0.89 million for the quarter, compared to the consensus estimate of $8.74 million. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. As a group, equities analysts predict that CRISPR Therapeutics will post -5.16 earnings per share for the current year.

Insider Activity

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 60,000 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $60.23, for a total transaction of $3,613,800.00. Following the sale, the chief executive officer directly owned 134,201 shares in the company, valued at $8,082,926.23. This represents a 30.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Orbis Allan Gray Ltd boosted its stake in CRISPR Therapeutics by 76.9% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company’s stock valued at $134,467,000 after purchasing an additional 1,201,600 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CRISPR Therapeutics by 98.1% in the second quarter. Geode Capital Management LLC now owns 2,071,883 shares of the company’s stock worth $100,789,000 after buying an additional 1,025,979 shares in the last quarter. SR One Capital Management LP boosted its stake in CRISPR Therapeutics by 94.4% during the third quarter. SR One Capital Management LP now owns 2,038,763 shares of the company’s stock valued at $132,132,000 after buying an additional 989,812 shares during the period. State Street Corp raised its stake in CRISPR Therapeutics by 35.6% in the second quarter. State Street Corp now owns 3,270,596 shares of the company’s stock valued at $159,082,000 after purchasing an additional 859,334 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of CRISPR Therapeutics during the 2nd quarter valued at $19,772,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.