Brokers Issue Forecasts for CRSP FY2024 Earnings

CRISPR Therapeutics AG (NASDAQ:CRSP) – Brookline Capital Management boosted their FY2024 earnings per share estimates for CRISPR Therapeutics in a research note issued on Monday, January 6th. Brookline Capital Management analyst L. Cann now expects that the company will post earnings of ($5.16) per share for the year, up from their prior forecast of ($5.18). The consensus estimate for CRISPR Therapeutics’ current full-year earnings is ($5.13) per share.

A number of other research firms have also recently commented on CRSP. JMP Securities restated a “market outperform” rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, December 20th. Chardan Capital restated a “buy” rating and issued a $94.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $53.00 price objective on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research report on Monday, December 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $84.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $78.38.

CRISPR Therapeutics Price Performance

CRISPR Therapeutics stock opened at $39.69 on Thursday. The stock has a market capitalization of $3.39 billion, a PE ratio of -14.02 and a beta of 1.68. CRISPR Therapeutics has a 12 month low of $38.20 and a 12 month high of $91.10. The business has a 50 day simple moving average of $46.39 and a 200-day simple moving average of $48.83.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.41. The company had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $6.65 million. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. During the same period last year, the business earned ($1.41) earnings per share.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in CRISPR Therapeutics during the 2nd quarter worth about $35,000. Highline Wealth Partners LLC purchased a new stake in CRISPR Therapeutics during the 4th quarter worth about $39,000. Wilmington Savings Fund Society FSB purchased a new stake in CRISPR Therapeutics during the 3rd quarter worth about $40,000. Darwin Wealth Management LLC purchased a new stake in CRISPR Therapeutics during the 3rd quarter worth about $43,000. Finally, National Bank of Canada FI increased its holdings in CRISPR Therapeutics by 35.0% during the 2nd quarter. National Bank of Canada FI now owns 848 shares of the company’s stock worth $46,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Insider Activity

In related news, CEO Samarth Kulkarni sold 4,293 shares of the business’s 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 approximately $10,484,271.20. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel James R. Kasinger sold 1,089 shares of the business’s 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 completion of the sale, the general counsel now owns 62,597 shares in the company, valued at $2,896,989.16. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,382 shares of company stock valued at $2,744,179 in the last quarter. Insiders own 4.10% 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.