Mizuho Raises CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $99.00

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) had its price objective lifted by stock analysts at Mizuho from $82.00 to $99.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Mizuho's price target points to a potential upside of 22.24% from the company's previous close.

CRSP has been the topic of several other reports. Barclays lifted their target price on CRISPR Therapeutics from $61.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, February 22nd. Morgan Stanley lifted their target price on CRISPR Therapeutics from $46.00 to $48.00 and gave the stock an "underweight" rating in a report on Monday, February 26th. JMP Securities upped their price objective on shares of CRISPR Therapeutics from $74.00 to $80.00 and gave the company a "market outperform" rating in a research note on Monday, December 11th. Chardan Capital upped their price objective on shares of CRISPR Therapeutics from $110.00 to $112.00 and gave the company a "buy" rating in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada raised their target price on CRISPR Therapeutics from $57.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, CRISPR Therapeutics has an average rating of "Hold" and a consensus target price of $71.37.

CRISPR Therapeutics Trading Down 0.9 %

NASDAQ:CRSP opened at $80.99 on Wednesday. CRISPR Therapeutics has a 1-year low of $37.55 and a 1-year high of $91.10. The firm has a fifty day simple moving average of $70.28 and a 200 day simple moving average of $59.07. The stock has a market capitalization of $6.50 billion, a PE ratio of -41.32 and a beta of 1.79.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its earnings results on Wednesday, February 21st. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.15 by $0.95. CRISPR Therapeutics had a negative return on equity of 8.09% and a negative net margin of 240.84%. The firm had revenue of $201.20 million during the quarter, compared to the consensus estimate of $148.72 million. During the same quarter in the previous year, the firm earned ($1.41) earnings per share. The business's quarterly revenue was up 3253.3% on a year-over-year basis. On average, equities analysts predict that CRISPR Therapeutics will post -6.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel James R. Kasinger sold 1,913 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total value of $152,408.71. Following the completion of the transaction, the general counsel now directly owns 57,371 shares of the company's stock, valued at $4,570,747.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel James R. Kasinger sold 1,913 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total transaction of $152,408.71. Following the completion of the transaction, the general counsel now owns 57,371 shares in the company, valued at approximately $4,570,747.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Samarth Kulkarni sold 6,370 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total transaction of $507,497.90. Following the transaction, the chief executive officer now owns 194,257 shares of the company's stock, valued at approximately $15,476,455.19. The disclosure for this sale can be found here. Insiders have sold 98,283 shares of company stock valued at $6,542,607 in the last three months. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fairfield Bush & CO. purchased a new position in shares of CRISPR Therapeutics in the 1st quarter worth about $90,000. Bank of New York Mellon Corp grew its holdings in shares of CRISPR Therapeutics by 40.7% during the 1st quarter. Bank of New York Mellon Corp now owns 91,062 shares of the company's stock valued at $5,716,000 after purchasing an additional 26,358 shares during the last quarter. US Bancorp DE grew its holdings in shares of CRISPR Therapeutics by 10.0% during the 1st quarter. US Bancorp DE now owns 9,526 shares of the company's stock valued at $598,000 after purchasing an additional 866 shares during the last quarter. BlackRock Inc. grew its holdings in shares of CRISPR Therapeutics by 79.2% during the 1st quarter. BlackRock Inc. now owns 2,278,774 shares of the company's stock valued at $143,038,000 after purchasing an additional 1,007,246 shares during the last quarter. Finally, Cibc World Market Inc. grew its holdings in shares of CRISPR Therapeutics by 49.3% during the 1st quarter. Cibc World Market Inc. now owns 8,354 shares of the company's stock valued at $524,000 after purchasing an additional 2,760 shares during the last quarter. Hedge funds and other institutional investors own 68.20% 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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