CRISPR Therapeutics (NASDAQ:CRSP) Given New $48.00 Price Target at Royal Bank of Canada

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective reduced by Royal Bank of Canada from $53.00 to $48.00 in a research note published on Wednesday,Benzinga reports. They currently have a sector perform rating on the stock.

CRSP has been the subject of a number of other reports. 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, December 20th. 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. Barclays boosted their price target on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday. HC Wainwright assumed coverage on shares of CRISPR Therapeutics in a research report on Monday, February 3rd. They set a “buy” rating and a $65.00 price target for the company. Finally, Chardan Capital restated a “buy” rating and set a $94.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, CRISPR Therapeutics presently has an average rating of “Hold” and a consensus target price of $74.50.

CRISPR Therapeutics Trading Up 14.3 %

CRISPR Therapeutics stock opened at $49.72 on Wednesday. CRISPR Therapeutics has a 1-year low of $36.52 and a 1-year high of $91.10. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -17.57 and a beta of 1.67. The firm has a 50 day simple moving average of $41.89 and a 200 day simple moving average of $46.17.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. On average, equities research analysts forecast that CRISPR Therapeutics will post -5.08 EPS for the current year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $55.10, for a total value of $826,500.00. Following the completion of the sale, the chief executive officer now directly owns 181,540 shares of the company’s stock, valued at $10,002,854. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Boston Family Office LLC raised its stake in CRISPR Therapeutics by 2.2% in the third quarter. Boston Family Office LLC now owns 9,763 shares of the company’s stock worth $459,000 after buying an additional 213 shares in the last quarter. Bedell Frazier Investment Counselling LLC raised its stake in CRISPR Therapeutics by 0.8% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 26,357 shares of the company’s stock worth $1,238,000 after buying an additional 218 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in CRISPR Therapeutics by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 12,477 shares of the company’s stock worth $586,000 after buying an additional 231 shares in the last quarter. Intellectus Partners LLC raised its stake in CRISPR Therapeutics by 3.6% in the fourth quarter. Intellectus Partners LLC now owns 7,131 shares of the company’s stock worth $281,000 after buying an additional 250 shares in the last quarter. Finally, Farrow Financial Inc. raised its stake in 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. 69.20% of the stock is owned by institutional investors.

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.