CRISPR Therapeutics (NASDAQ:CRSP) Price Target Cut to $84.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective dropped by investment analysts at Citigroup from $89.00 to $84.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 52.06% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of CRISPR Therapeutics from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Thursday, February 22nd. Wells Fargo & Company reduced their price target on shares of CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Chardan Capital raised their price target on shares of CRISPR Therapeutics from $110.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Needham & Company LLC reduced their price target on shares of CRISPR Therapeutics from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, JMP Securities reissued a “market outperform” rating and set a $86.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics currently has an average rating of “Hold” and an average target price of $73.57.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ CRSP opened at $55.24 on Thursday. CRISPR Therapeutics has a fifty-two week low of $37.55 and a fifty-two week high of $91.10. The company has a 50 day simple moving average of $60.59 and a two-hundred day simple moving average of $65.51. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -20.31 and a beta of 1.80.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $25.53 million. During the same period last year, the company earned ($0.67) earnings per share. The business’s quarterly revenue was down 99.5% on a year-over-year basis. On average, analysts forecast that CRISPR Therapeutics will post -5.64 earnings per share for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In other news, General Counsel James R. Kasinger sold 2,801 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $78.26, for a total transaction of $219,206.26. Following the sale, the general counsel now directly owns 60,070 shares in the company, valued at approximately $4,701,078.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Samarth Kulkarni sold 19,582 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the transaction, the chief executive officer now directly owns 208,122 shares of the company’s stock, valued at $12,468,589.02. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel James R. Kasinger sold 2,801 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $78.26, for a total transaction of $219,206.26. Following the transaction, the general counsel now owns 60,070 shares in the company, valued at $4,701,078.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,709 shares of company stock worth $3,865,228. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CRSP. Blue Trust Inc. acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new stake in CRISPR Therapeutics in the third quarter valued at approximately $34,000. Bourgeon Capital Management LLC boosted its stake in CRISPR Therapeutics by 1,000.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in CRISPR Therapeutics by 66.7% in the first quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $41,000. 69.20% of the stock is currently owned by institutional investors.

CRISPR Therapeutics Company Profile

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.