CRISPR Therapeutics (NASDAQ:CRSP) Price Target Lowered to $85.00 at Bank of America

CRISPR Therapeutics (NASDAQ:CRSP) had its price target lowered by Bank of America from $98.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 105.86% from the stock’s previous close.

A number of other brokerages have also issued reports on CRSP. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Barclays cut their target price on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Chardan Capital reaffirmed a “buy” rating and set a $94.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. JMP Securities reiterated a “market outperform” rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, December 20th. Finally, StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a report on Monday, December 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, CRISPR Therapeutics has an average rating of “Hold” and a consensus target price of $78.38.

CRISPR Therapeutics Stock Down 1.5 %

NASDAQ CRSP opened at $41.29 on Tuesday. The company has a 50-day simple moving average of $46.63 and a two-hundred day simple moving average of $48.94. CRISPR Therapeutics has a 12-month low of $38.20 and a 12-month high of $91.10. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -14.59 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.41. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. The business had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. During the same period last year, the company earned ($1.41) EPS. Equities analysts expect that CRISPR Therapeutics will post -5.13 earnings per share for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were 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 directly owns 181,540 shares in the company, valued at $10,002,854. The trade was a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 1,089 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following the sale, the general counsel now owns 62,597 shares in the company, valued at approximately $2,896,989.16. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,382 shares of company stock valued at $2,744,179 in the last quarter. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CRSP. Baker BROS. Advisors LP raised its holdings in CRISPR Therapeutics by 743.1% in the 3rd quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company’s stock worth $39,608,000 after purchasing an additional 743,075 shares during the period. State Street Corp raised its stake in shares of CRISPR Therapeutics by 25.0% in the third quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after buying an additional 599,304 shares during the period. Farallon Capital Management LLC purchased a new position in shares of CRISPR Therapeutics during the 2nd quarter valued at about $28,625,000. Marshall Wace LLP bought a new position in shares of CRISPR Therapeutics during the 2nd quarter valued at approximately $10,078,000. Finally, Private Advisor Group LLC increased its holdings in CRISPR Therapeutics by 472.9% in the 2nd quarter. Private Advisor Group LLC now owns 77,627 shares of the company’s stock worth $4,193,000 after acquiring an additional 64,076 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

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.