CRISPR Therapeutics (NASDAQ:CRSP) Price Target Lowered to $85.00 at Bank of America

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective dropped by analysts at Bank of America from $98.00 to $85.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 100.61% from the company’s current price.

CRSP has been the topic of several other research reports. JMP Securities reiterated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research note on Friday, December 20th. Needham & Company LLC reaffirmed 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 upgraded shares of CRISPR Therapeutics to a “sell” rating in a research note on Monday, December 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $53.00 price target on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Finally, Chardan Capital reissued a “buy” rating and issued a $94.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $78.38.

CRISPR Therapeutics Stock Down 0.1 %

NASDAQ:CRSP traded down $0.06 during mid-day trading on Tuesday, hitting $42.37. 914,086 shares of the stock traded hands, compared to its average volume of 1,604,360. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of -14.97 and a beta of 1.68. CRISPR Therapeutics has a 52 week low of $38.20 and a 52 week high of $91.10. The firm’s 50 day moving average is $46.77 and its two-hundred day moving average is $49.04.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.41. The firm had revenue of $0.60 million for the quarter, compared to the consensus estimate of $6.65 million. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. During the same period in the prior year, the business posted ($1.41) earnings per share. As a group, research analysts predict that CRISPR Therapeutics will post -5.13 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following the transaction, the general counsel now directly owns 62,597 shares in the company, valued at $2,896,989.16. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Samarth Kulkarni sold 30,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.62, for a total value of $1,668,600.00. Following the sale, the chief executive officer now directly owns 196,540 shares of the company’s stock, valued at approximately $10,931,554.80. This trade represents a 13.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,382 shares of company stock worth $2,744,179. Insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CRSP. Larson Financial Group LLC raised its stake in shares of CRISPR Therapeutics by 95.5% in the 2nd quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock valued at $31,000 after acquiring an additional 276 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in CRISPR Therapeutics in the second quarter valued at approximately $35,000. National Bank of Canada FI lifted its stake in CRISPR Therapeutics by 35.0% during the second quarter. National Bank of Canada FI now owns 848 shares of the company’s stock worth $46,000 after purchasing an additional 220 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in CRISPR Therapeutics during the third quarter worth $40,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of CRISPR Therapeutics in the third quarter valued at $43,000. 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.