Zacks Investment Research upgraded shares of Crispr Therapeutics (NASDAQ:CRSP) from a hold rating to a strong-buy rating in a research report released on Tuesday morning. They currently have $42.00 price target on the stock.
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. “
Other research analysts also recently issued reports about the company. BidaskClub downgraded Crispr Therapeutics from a buy rating to a hold rating in a report on Wednesday, June 13th. Citigroup reduced their target price on Crispr Therapeutics from $51.00 to $50.00 and set a neutral rating on the stock in a report on Friday, August 24th. Cann reissued a hold rating on shares of Crispr Therapeutics in a report on Monday, September 17th. Chardan Capital reissued a buy rating and issued a $72.50 target price on shares of Crispr Therapeutics in a report on Wednesday, August 8th. Finally, Raymond James assumed coverage on Crispr Therapeutics in a report on Thursday, September 20th. They issued an underperform rating on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $62.47.
NASDAQ CRSP traded up $0.75 during trading on Tuesday, reaching $37.70. 1,644,820 shares of the company traded hands, compared to its average volume of 1,240,602. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -22.05 and a beta of 3.70. Crispr Therapeutics has a 1-year low of $16.51 and a 1-year high of $73.90.
Crispr Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Wednesday, August 8th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.19). The company had revenue of $1.09 million for the quarter, compared to analyst estimates of $1.47 million. Crispr Therapeutics had a negative net margin of 245.57% and a negative return on equity of 39.58%. Equities analysts expect that Crispr Therapeutics will post -2.92 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in CRSP. Federated Investors Inc. PA acquired a new position in shares of Crispr Therapeutics in the 2nd quarter worth approximately $37,101,000. ARK Investment Management LLC lifted its holdings in Crispr Therapeutics by 544.0% during the 2nd quarter. ARK Investment Management LLC now owns 467,140 shares of the company’s stock worth $27,449,000 after buying an additional 394,606 shares in the last quarter. Orbimed Advisors LLC lifted its holdings in Crispr Therapeutics by 375.3% during the 2nd quarter. Orbimed Advisors LLC now owns 496,200 shares of the company’s stock worth $29,157,000 after buying an additional 391,799 shares in the last quarter. FMR LLC acquired a new position in Crispr Therapeutics during the 2nd quarter worth $11,629,000. Finally, Renaissance Technologies LLC acquired a new position in Crispr Therapeutics during the 2nd quarter worth $10,054,000. 39.13% of the stock is currently owned by institutional investors and hedge funds.
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, which targets sickle cell disease and beta-thalassemia with an ex vivo approach whereby cells are harvested from a patient, treated with a CRISPR/Cas9-based therapeutic and reintroduced into the patient.
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