CRISPR Therapeutics (NASDAQ:CRSP) Earns Market Outperform Rating from Citizens Jmp

Key Points

• Citizens JMP reaffirmed a “market outperform” rating on CRISPR Therapeutics and set an $80 price target, implying approximately 40.15% upside from the reported $57.08 share price.
• Analyst sentiment is broadly positive, with MarketBeat reporting a “Moderate Buy” consensus rating and an average price target of $68.06, though ratings range from Strong Buy to Sell.
• CRISPR Therapeutics reported a quarterly loss of $0.94 per share on $10.18 million in revenue, while its stock remains well below its 12-month high of $78.48; institutional investors own 69.20% of shares.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report)'s stock had its "market outperform" rating reissued by investment analysts at Citizens Jmp in a research report issued on Tuesday,Benzinga reports. They currently have a $80.00 target price on the stock. Citizens Jmp's price objective points to a potential upside of 40.15% from the stock's current price.

Several other equities research analysts also recently commented on CRSP. Citigroup reaffirmed a "market outperform" rating on shares of CRISPR Therapeutics in a report on Tuesday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 target price on shares of CRISPR Therapeutics in a research note on Thursday, August 6th. Evercore reissued an "outperform" rating and issued a $76.00 price target on shares of CRISPR Therapeutics in a research report on Monday, May 11th. Weiss Ratings restated a "sell (d-)" rating on shares of CRISPR Therapeutics in a research note on Friday, July 17th. Finally, UBS Group set a $80.00 price objective on shares of CRISPR Therapeutics in a report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, CRISPR Therapeutics has an average rating of "Moderate Buy" and an average target price of $68.06.

CRISPR Therapeutics Price Performance

CRISPR Therapeutics stock opened at $57.08 on Tuesday. The company has a market cap of $5.52 billion, a price-to-earnings ratio of -11.99 and a beta of 1.74. The business's 50 day simple moving average is $53.14 and its 200 day simple moving average is $52.43. The company has a current ratio of 17.85, a quick ratio of 17.85 and a debt-to-equity ratio of 0.34. CRISPR Therapeutics has a 12 month low of $44.12 and a 12 month high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($0.94) EPS for the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. The firm had revenue of $10.18 million for the quarter. Sell-side analysts forecast that CRISPR Therapeutics will post -4.47 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In related news, insider Naimish Patel sold 3,786 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $55.62, for a total transaction of $210,577.32. Following the completion of the transaction, the insider owned 19,357 shares of the company's stock, valued at approximately $1,076,636.34. The trade was a 16.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRSP. Cerity Partners LLC raised its holdings in shares of CRISPR Therapeutics by 3.0% in the 2nd quarter. Cerity Partners LLC now owns 6,541 shares of the company's stock valued at $318,000 after acquiring an additional 190 shares in the last quarter. Peapack Gladstone Financial Corp raised its stake in CRISPR Therapeutics by 3.0% in the second quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company's stock valued at $339,000 after purchasing an additional 200 shares in the last quarter. Allworth Financial LP lifted its position in CRISPR Therapeutics by 2.7% during the fourth quarter. Allworth Financial LP now owns 9,550 shares of the company's stock valued at $501,000 after purchasing an additional 249 shares during the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of CRISPR Therapeutics by 6.6% in the 4th quarter. Meeder Advisory Services Inc. now owns 4,392 shares of the company's stock worth $230,000 after buying an additional 270 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of CRISPR Therapeutics by 29.9% during the 4th quarter. IFP Advisors Inc now owns 1,250 shares of the company's stock valued at $66,000 after buying an additional 288 shares in the last quarter. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

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.

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