CRISPR Therapeutics (NASDAQ:CRSP) Earns Buy Rating from Needham & Company LLC

Key Points

• Needham & Company reaffirmed a “buy” rating on CRISPR Therapeutics and set an $82 price target, implying approximately 42% upside from the stock’s reported $57.72 price.
• Analyst sentiment is broadly positive, with MarketBeat reporting a consensus rating of “Moderate Buy” and an average price target of $68.06.
• CRISPR Therapeutics reported quarterly revenue of $10.18 million and a loss of $0.94 per share; institutional investors own approximately 69.2% of the company.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $82.00 price objective on the stock. Needham & Company LLC's target price suggests a potential upside of 42.07% from the company's current price.

Several other brokerages have also recently commented on CRSP. UBS Group set a $80.00 price target on shares of CRISPR Therapeutics in a research note on Friday, June 12th. Sanford C. Bernstein raised their target price on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the company a "market perform" rating in a report on Wednesday, May 13th. Morgan Stanley set a $60.00 price target on shares of CRISPR Therapeutics and gave the stock an "equal weight" rating in a research report on Thursday, June 11th. Citigroup reaffirmed a "market outperform" rating on shares of CRISPR Therapeutics in a research note on Tuesday, August 25th. Finally, HC Wainwright reiterated a "buy" rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, CRISPR Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $68.06.

CRISPR Therapeutics Stock Performance

Shares of CRSP stock opened at $57.72 on Monday. The stock has a fifty day simple moving average of $53.62 and a two-hundred day simple moving average of $52.73. CRISPR Therapeutics has a 52-week low of $44.12 and a 52-week high of $78.48. The firm has a market capitalization of $5.58 billion, a PE ratio of -12.13 and a beta of 1.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 17.85 and a current ratio of 17.85.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.94) earnings per share for the quarter. CRISPR Therapeutics had a negative return on equity of 24.39% and a negative net margin of 3,368.72%.The business had revenue of $10.18 million during the quarter. On average, analysts predict that CRISPR Therapeutics will post -4.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Versant Capital Management Inc grew its position in CRISPR Therapeutics by 175.1% in the 2nd quarter. Versant Capital Management Inc now owns 465 shares of the company's stock valued at $25,000 after acquiring an additional 296 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new position in CRISPR Therapeutics in the 4th quarter worth about $25,000. Ramirez Asset Management Inc. bought a new position in CRISPR Therapeutics in the 4th quarter worth about $26,000. Rothschild Investment LLC increased its position in shares of CRISPR Therapeutics by 836.7% during the fourth quarter. Rothschild Investment LLC now owns 562 shares of the company's stock worth $29,000 after acquiring an additional 502 shares during the period. Finally, Strategic Wealth Investment Group LLC purchased a new stake in shares of CRISPR Therapeutics in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 69.20% of the company's stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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