Piper Sandler Reaffirms "Overweight" Rating for CRISPR Therapeutics (NASDAQ:CRSP)

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report)'s stock had its "overweight" rating restated by stock analysts at Piper Sandler in a report released on Friday,Benzinga reports. They currently have a $105.00 price target on the stock. Piper Sandler's price target suggests a potential upside of 121.16% from the company's previous close.

A number of other equities research analysts have also recently commented on the company. Wall Street Zen upgraded CRISPR Therapeutics to a "sell" rating in a research note on Friday, May 16th. Barclays dropped their target price on shares of CRISPR Therapeutics from $56.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group decreased their price target on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. JMP Securities reiterated a "market outperform" rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a research note on Friday. Finally, HC Wainwright reissued a "buy" rating and issued a $65.00 target price on shares of CRISPR Therapeutics in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $71.75.

CRISPR Therapeutics Trading Up 1.7%

Shares of CRSP traded up $0.78 during trading hours on Friday, reaching $47.48. 803,141 shares of the stock traded hands, compared to its average volume of 1,796,676. CRISPR Therapeutics has a 52 week low of $30.04 and a 52 week high of $63.68. The company has a market cap of $4.10 billion, a price-to-earnings ratio of -10.50 and a beta of 1.75. The stock has a fifty day simple moving average of $39.28 and a 200 day simple moving average of $40.56.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its earnings results 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 20.08% and a negative net margin of 1,023.64%. The business's revenue was up 71.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.43) earnings per share. Analysts predict that CRISPR Therapeutics will post -5.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,932 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $35.94, for a total value of $141,316.08. Following the transaction, the insider now directly owns 6,068 shares in the company, valued at approximately $218,083.92. This trade represents a 39.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds have recently modified their holdings of the company. Intellectus Partners LLC lifted its holdings in CRISPR Therapeutics by 3.6% in the 4th quarter. Intellectus Partners LLC now owns 7,131 shares of the company's stock worth $281,000 after purchasing an additional 250 shares in the last quarter. Farrow Financial Inc. lifted its holdings in shares of CRISPR Therapeutics by 1.4% in the fourth quarter. Farrow Financial Inc. now owns 20,097 shares of the company's stock worth $777,000 after buying an additional 270 shares in the last quarter. SFE Investment Counsel boosted its position in shares of CRISPR Therapeutics by 5.8% during the first quarter. SFE Investment Counsel now owns 6,507 shares of the company's stock worth $221,000 after acquiring an additional 355 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in CRISPR Therapeutics by 7.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,252 shares of the company's stock valued at $215,000 after acquiring an additional 372 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in CRISPR Therapeutics by 4.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 10,309 shares of the company's stock valued at $351,000 after acquiring an additional 393 shares during the last quarter. 69.20% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.