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

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “market outperform” rating reaffirmed by equities researchers at JMP Securities in a report released on Friday,Benzinga reports. They presently have a $86.00 price objective on the stock. JMP Securities’ price objective points to a potential upside of 111.20% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Barclays reduced their price objective on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Needham & Company LLC restated a “buy” rating and set a $84.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a research report on Wednesday, December 11th. Royal Bank of Canada restated a “sector perform” rating and set a $53.00 price target on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Finally, Chardan Capital restated a “buy” rating and issued a $94.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.93.

CRISPR Therapeutics Price Performance

NASDAQ CRSP opened at $40.72 on Friday. The company has a fifty day moving average price of $48.45 and a 200-day moving average price of $50.72. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -14.39 and a beta of 1.62. CRISPR Therapeutics has a 1 year low of $39.41 and a 1 year high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.41. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. The firm had revenue of $0.60 million during the quarter, compared to analyst estimates of $6.65 million. During the same quarter last year, the business posted ($1.41) EPS. On average, research analysts anticipate that CRISPR Therapeutics will post -5.13 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $50,398.92. Following the sale, the general counsel now owns 62,597 shares of the company’s stock, valued at $2,896,989.16. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Samarth Kulkarni sold 4,293 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $198,680.04. Following the transaction, the chief executive officer now directly owns 226,540 shares of the company’s stock, valued at $10,484,271.20. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,382 shares of company stock worth $2,744,179 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its holdings in shares of CRISPR Therapeutics by 95.5% in the second quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock worth $31,000 after acquiring an additional 276 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of CRISPR Therapeutics during the 2nd quarter valued at about $35,000. Denver PWM LLC purchased a new stake in shares of CRISPR Therapeutics during the 2nd quarter valued at about $45,000. National Bank of Canada FI lifted its stake in shares of CRISPR Therapeutics by 35.0% in the 2nd quarter. National Bank of Canada FI now owns 848 shares of the company’s stock worth $46,000 after purchasing an additional 220 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in CRISPR Therapeutics during the third quarter valued at approximately $40,000. 69.20% of the stock is currently owned by hedge funds and other 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.