CRISPR Therapeutics (NASDAQ:CRSP) Given Buy Rating at Needham & Company LLC

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $84.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 112.01% from the stock’s current price.

CRSP has been the subject of several other reports. Royal Bank of Canada restated a “sector perform” rating and set a $53.00 target price on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Chardan Capital reiterated a “buy” rating and set a $94.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, December 10th. Bank of America lowered their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Barclays lowered their price target on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Finally, HC Wainwright initiated coverage on shares of CRISPR Therapeutics in a report on Monday, February 3rd. They set a “buy” rating and a $65.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $75.28.

CRISPR Therapeutics Trading Up 0.5 %

Shares of CRSP stock opened at $39.62 on Wednesday. The stock has a 50 day simple moving average of $42.45 and a 200 day simple moving average of $46.40. CRISPR Therapeutics has a 1 year low of $36.52 and a 1 year high of $91.10. The stock has a market cap of $3.38 billion, a P/E ratio of -14.00 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. 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 stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.10, for a total transaction of $826,500.00. Following the completion of the sale, the chief executive officer now directly owns 181,540 shares in the company, valued at approximately $10,002,854. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

A number of large investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in shares of CRISPR Therapeutics during the 3rd quarter worth about $40,000. Darwin Wealth Management LLC bought a new position in shares of CRISPR Therapeutics during the 3rd quarter worth about $43,000. Highline Wealth Partners LLC bought a new position in shares of CRISPR Therapeutics during the 4th quarter worth about $39,000. Western Pacific Wealth Management LP lifted its position in CRISPR Therapeutics by 100.0% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after acquiring an additional 500 shares in the last quarter. Finally, Eastern Bank bought a new position in CRISPR Therapeutics in the 3rd quarter valued at about $70,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.