Barclays Lowers CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $42.00

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) had its price objective decreased by Barclays from $56.00 to $42.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's target price would suggest a potential upside of 17.91% from the stock's current price.

CRSP has been the subject of a number of other reports. JMP Securities reissued a "market outperform" rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a report on Thursday, February 13th. Needham & Company LLC reduced their price target on shares of CRISPR Therapeutics from $84.00 to $81.00 and set a "buy" rating for the company in a report on Wednesday. TD Cowen raised shares of CRISPR Therapeutics from a "sell" rating to a "hold" rating and set a $35.00 price target for the company in a report on Wednesday, February 12th. Citigroup reduced their price target on shares of CRISPR Therapeutics from $89.00 to $82.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. Finally, StockNews.com raised shares of CRISPR Therapeutics to a "sell" rating in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $71.75.

CRISPR Therapeutics Stock Performance

Shares of CRISPR Therapeutics stock traded down $0.52 on Friday, reaching $35.62. The stock had a trading volume of 1,737,782 shares, compared to its average volume of 1,669,417. The business's 50-day moving average price is $38.15 and its two-hundred day moving average price is $42.71. CRISPR Therapeutics has a fifty-two week low of $30.04 and a fifty-two week high of $67.88. The stock has a market cap of $3.08 billion, a P/E ratio of -8.15 and a beta of 1.88.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($1.58) earnings per share for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.31). CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. CRISPR Therapeutics's revenue was up 71.6% on a year-over-year basis. During the same quarter last year, the firm earned ($1.43) earnings per share. As a group, equities analysts forecast that CRISPR Therapeutics will post -5.16 earnings per share for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In other news, COO Julianne Bruno sold 1,198 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total value of $50,819.16. Following the sale, the chief operating officer now owns 8,263 shares of the company's stock, valued at approximately $350,516.46. This represents a 12.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel James R. Kasinger sold 2,850 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $120,897.00. Following the sale, the general counsel now directly owns 77,530 shares in the company, valued at approximately $3,288,822.60. This represents a 3.55% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,381 shares of company stock valued at $1,608,243. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Wood Tarver Financial Group LLC bought a new stake in CRISPR Therapeutics during the 4th quarter worth about $30,000. Costello Asset Management INC bought a new stake in CRISPR Therapeutics during the 1st quarter worth about $27,000. Wilmington Savings Fund Society FSB bought a new stake in CRISPR Therapeutics during the 3rd quarter worth about $40,000. Ameriflex Group Inc. bought a new position in shares of CRISPR Therapeutics in the 4th quarter valued at about $36,000. Finally, Highline Wealth Partners LLC bought a new position in shares of CRISPR Therapeutics in the 4th quarter valued at about $39,000. 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.