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

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities researchers at JMP Securities in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $86.00 price target on the stock. JMP Securities' price target indicates a potential upside of 84.15% from the company's current price.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Barclays reduced their price objective on 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. Needham & Company LLC reiterated a "buy" rating and issued a $81.00 target price on shares of CRISPR Therapeutics in a research note on Thursday. Chardan Capital restated a "buy" rating and set a $82.00 price target on shares of CRISPR Therapeutics in a research note on Thursday. Finally, Wall Street Zen upgraded shares of CRISPR Therapeutics to a "sell" rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, CRISPR Therapeutics presently has an average rating of "Hold" and an average price target of $69.53.

CRISPR Therapeutics Trading Down 2.0%

Shares of NASDAQ CRSP opened at $46.70 on Friday. The stock has a market cap of $4.03 billion, a P/E ratio of -10.33 and a beta of 1.75. CRISPR Therapeutics has a twelve month low of $30.04 and a twelve month high of $63.68. The stock has a 50 day moving average of $39.28 and a two-hundred day moving average of $40.56.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.43) earnings per share. As a group, research analysts predict that CRISPR Therapeutics will post -5.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Naimish Patel sold 3,932 shares of CRISPR Therapeutics stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $35.94, for a total transaction of $141,316.08. Following the completion of the transaction, the insider now directly owns 6,068 shares in the company, valued at $218,083.92. The trade was a 39.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRSP. SVB Wealth LLC purchased a new stake in shares of CRISPR Therapeutics during the 1st quarter valued at $25,000. Wood Tarver Financial Group LLC acquired a new position in CRISPR Therapeutics in the fourth quarter valued at $30,000. Costello Asset Management INC purchased a new stake in CRISPR Therapeutics during the first quarter valued at about $27,000. Ameriflex Group Inc. acquired a new stake in CRISPR Therapeutics during the fourth quarter worth about $36,000. Finally, Quantbot Technologies LP raised its holdings in shares of CRISPR Therapeutics by 272.4% in the 1st quarter. Quantbot Technologies LP now owns 1,337 shares of the company's stock worth $45,000 after purchasing an additional 978 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.

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