Citigroup Boosts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $89.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective raised by analysts at Citigroup from $88.00 to $89.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 58.50% from the stock’s previous close.

A number of other brokerages also recently issued reports on CRSP. Morgan Stanley increased their price target on shares of CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Barclays increased their price target on shares of CRISPR Therapeutics from $61.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Wells Fargo & Company increased their price objective on shares of CRISPR Therapeutics from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Wolfe Research started coverage on shares of CRISPR Therapeutics in a research note on Thursday, February 15th. They issued a “peer perform” rating on the stock. Finally, Chardan Capital increased 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. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.29.

CRISPR Therapeutics Stock Performance

CRISPR Therapeutics stock traded up $0.59 during trading hours on Thursday, reaching $56.15. 497,028 shares of the stock were exchanged, compared to its average volume of 1,828,998. The stock has a market cap of $4.77 billion, a P/E ratio of -28.61 and a beta of 1.76. CRISPR Therapeutics has a 52-week low of $37.55 and a 52-week high of $91.10. The firm’s 50 day moving average is $73.51 and its 200 day moving average is $63.34.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.95. The firm had revenue of $201.20 million for the quarter, compared to analysts’ expectations of $148.72 million. The firm’s quarterly revenue was up 3253.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.41) EPS. Equities research analysts expect that CRISPR Therapeutics will post -6.24 EPS for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 20,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the transaction, the chief executive officer now directly owns 187,377 shares in the company, valued at approximately $15,057,615.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Samarth Kulkarni sold 20,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the transaction, the chief executive officer now directly owns 187,377 shares in the company, valued at approximately $15,057,615.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel James R. Kasinger sold 1,913 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 $152,408.71. Following the transaction, the general counsel now owns 57,371 shares in the company, valued at $4,570,747.57. The disclosure for this sale can be found here. Insiders have sold a total of 133,992 shares of company stock worth $9,157,835 in the last three months. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. purchased a new position in CRISPR Therapeutics in the fourth quarter valued at approximately $32,000. Bourgeon Capital Management LLC raised its stake in shares of CRISPR Therapeutics by 1,000.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the period. Main Street Group LTD purchased a new stake in shares of CRISPR Therapeutics during the fourth quarter valued at approximately $34,000. CWM LLC raised its stake in shares of CRISPR Therapeutics by 80.7% during the third quarter. CWM LLC now owns 582 shares of the company’s stock valued at $26,000 after purchasing an additional 260 shares during the period. Finally, NBC Securities Inc. raised its stake in shares of CRISPR Therapeutics by 257.6% during the first quarter. NBC Securities Inc. now owns 608 shares of the company’s stock valued at $41,000 after purchasing an additional 438 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

About CRISPR Therapeutics

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.