Crispr Therapeutics (NASDAQ:CRSP) was upgraded by analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Briefing.com Automated Import reports. The firm currently has a $65.00 target price on the stock. Oppenheimer’s target price suggests a potential upside of 19.20% from the stock’s previous close.
A number of other equities research analysts also recently commented on CRSP. Needham & Company LLC restated a “buy” rating and issued a $62.00 price objective on shares of Crispr Therapeutics in a research report on Wednesday, July 31st. Chardan Capital set a $72.50 price objective on shares of Crispr Therapeutics and gave the company a “buy” rating in a research report on Monday, October 21st. Roth Capital raised their price objective on shares of Crispr Therapeutics from $50.00 to $65.00 in a research report on Tuesday, July 30th. Piper Jaffray Companies restated an “overweight” rating on shares of Crispr Therapeutics in a research report on Monday, October 21st. Finally, Zacks Investment Research downgraded shares of Crispr Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $57.95.
NASDAQ:CRSP traded up $3.62 during mid-day trading on Tuesday, reaching $54.53. The stock had a trading volume of 39,950 shares, compared to its average volume of 659,135. The company has a debt-to-equity ratio of 0.06, a quick ratio of 8.32 and a current ratio of 8.32. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -15.91 and a beta of 3.15. Crispr Therapeutics has a twelve month low of $22.22 and a twelve month high of $53.90. The business has a 50 day simple moving average of $42.62 and a 200 day simple moving average of $44.25.
Crispr Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Monday, October 28th. The company reported $2.40 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.95) by $3.35. The firm had revenue of $211.93 million during the quarter, compared to the consensus estimate of $6.32 million. Crispr Therapeutics had a negative net margin of 5.30% and a negative return on equity of 2.60%. As a group, sell-side analysts expect that Crispr Therapeutics will post 0.64 earnings per share for the current year.
In other news, Director Pablo J. Cagnoni sold 7,500 shares of Crispr Therapeutics stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total transaction of $390,000.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at approximately $390,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.40% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of CRSP. Nikko Asset Management Americas Inc. lifted its position in shares of Crispr Therapeutics by 324.3% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 1,871,408 shares of the company’s stock valued at $88,143,000 after acquiring an additional 1,430,364 shares during the period. ARK Investment Management LLC increased its stake in shares of Crispr Therapeutics by 34.7% during the 2nd quarter. ARK Investment Management LLC now owns 2,724,349 shares of the company’s stock worth $128,317,000 after purchasing an additional 701,332 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Crispr Therapeutics by 19.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 738,869 shares of the company’s stock worth $34,801,000 after purchasing an additional 121,176 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Crispr Therapeutics by 23.9% during the 2nd quarter. Wells Fargo & Company MN now owns 603,905 shares of the company’s stock worth $28,443,000 after purchasing an additional 116,540 shares in the last quarter. Finally, Balyasny Asset Management LLC purchased a new position in shares of Crispr Therapeutics during the 2nd quarter worth approximately $5,165,000. Institutional investors own 51.09% of the company’s stock.
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, an ex vivo CRISPR gene-edited therapy for treating patients suffering from dependent beta thalassemia or severe sickle cell disease in which a patient's hematopoietic stem cells are engineered to produce high levels of fetal hemoglobin in red blood cells.
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