CRISPR Therapeutics AG (NASDAQ:CRSP) Receives $75.71 Average Price Target from Brokerages

CRISPR Therapeutics AG (NASDAQ:CRSP) has been given a consensus rating of “Hold” by the twenty ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $73.31.

CRSP has been the subject of several research reports. Wells Fargo & Company reduced their price objective on CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Piper Sandler reissued an “overweight” rating and issued a $105.00 price target on shares of CRISPR Therapeutics in a research note on Monday, June 17th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, May 9th. Stifel Nicolaus dropped their target price on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Robert W. Baird upped their price target on shares of CRISPR Therapeutics from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th.

CRISPR Therapeutics Trading Down 0.7 %

Shares of CRISPR Therapeutics stock opened at $49.33 on Wednesday. CRISPR Therapeutics has a 52 week low of $37.55 and a 52 week high of $91.10. The stock has a market cap of $4.19 billion, a PE ratio of -18.14 and a beta of 1.70. The company’s 50-day moving average price is $56.97 and its two-hundred day moving average price is $63.10.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Monday, August 5th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The company had revenue of $0.52 million for the quarter, compared to analyst estimates of $12.31 million. CRISPR Therapeutics’s quarterly revenue was down 99.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.98) EPS. On average, equities analysts predict that CRISPR Therapeutics will post -5.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Julianne Bruno sold 3,366 shares of CRISPR Therapeutics stock in a transaction on Friday, June 21st. The shares were sold at an average price of $56.09, for a total value of $188,798.94. Following the completion of the sale, the chief operating officer now owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its position in shares of CRISPR Therapeutics by 40.8% in the first quarter. Nordea Investment Management AB now owns 148,700 shares of the company’s stock valued at $10,305,000 after purchasing an additional 43,100 shares during the period. Congress Asset Management Co. MA raised its holdings in CRISPR Therapeutics by 60.3% in the 1st quarter. Congress Asset Management Co. MA now owns 64,605 shares of the company’s stock worth $4,403,000 after acquiring an additional 24,303 shares during the period. PBCay One RSC Ltd acquired a new position in CRISPR Therapeutics during the 4th quarter worth $10,329,000. Principal Financial Group Inc. bought a new stake in CRISPR Therapeutics during the first quarter valued at about $2,758,000. Finally, Vanguard Group Inc. grew its position in shares of CRISPR Therapeutics by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 1,590,651 shares of the company’s stock valued at $99,575,000 after purchasing an additional 51,926 shares during the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.