JMP Securities Reaffirms “Market Outperform” Rating for CRISPR Therapeutics (NASDAQ:CRSP)

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “market outperform” rating reaffirmed by equities researchers at JMP Securities in a research note issued on Friday,Benzinga reports. They currently have a $86.00 price target on the stock. JMP Securities’ target price would indicate a potential upside of 81.09% from the stock’s current price.

CRSP has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and issued a $65.00 target price on shares of CRISPR Therapeutics in a report on Friday. The Goldman Sachs Group dropped their price objective on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Chardan Capital reaffirmed a “buy” rating and set a $82.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday. Wall Street Zen raised shares of CRISPR Therapeutics to a “sell” rating in a research note on Friday, May 16th. Finally, Barclays dropped their price objective on shares of CRISPR Therapeutics from $56.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.75.

CRISPR Therapeutics Trading Up 1.7%

NASDAQ:CRSP opened at $47.49 on Friday. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of -10.51 and a beta of 1.75. The company’s 50-day moving average is $39.48 and its two-hundred day moving average is $40.50. CRISPR Therapeutics has a 12-month low of $30.04 and a 12-month high of $63.68.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.31). CRISPR Therapeutics had a negative net margin of 1,023.64% and a negative return on equity of 20.08%. The business’s quarterly revenue was up 71.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.43) earnings per share. On average, equities research analysts forecast that CRISPR Therapeutics will post -5.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,932 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $35.94, for a total value of $141,316.08. Following the completion of the transaction, the insider now owns 6,068 shares in the company, valued at $218,083.92. This represents a 39.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Intellectus Partners LLC boosted its holdings in CRISPR Therapeutics by 3.6% in the 4th quarter. Intellectus Partners LLC now owns 7,131 shares of the company’s stock worth $281,000 after acquiring an additional 250 shares during the period. Farrow Financial Inc. boosted its holdings in CRISPR Therapeutics by 1.4% in the 4th quarter. Farrow Financial Inc. now owns 20,097 shares of the company’s stock worth $777,000 after acquiring an additional 270 shares during the period. SFE Investment Counsel boosted its holdings in CRISPR Therapeutics by 5.8% in the 1st quarter. SFE Investment Counsel now owns 6,507 shares of the company’s stock worth $221,000 after acquiring an additional 355 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in CRISPR Therapeutics by 7.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,252 shares of the company’s stock worth $215,000 after acquiring an additional 372 shares during the period. Finally, Axxcess Wealth Management LLC boosted its holdings in CRISPR Therapeutics by 4.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 10,309 shares of the company’s stock worth $351,000 after acquiring an additional 393 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

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.