CRISPR Therapeutics (NASDAQ:CRSP) Given New $56.00 Price Target at Barclays

CRISPR Therapeutics (NASDAQ:CRSP) had its target price lifted by Barclays from $55.00 to $56.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms have also recently commented on CRSP. Royal Bank of Canada reissued a “sector perform” rating and set a $53.00 target price on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Chardan Capital reissued a “buy” rating and set a $94.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. JMP Securities reissued a “market outperform” rating and set a $86.00 target price on shares of CRISPR Therapeutics in a research report on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of CRISPR Therapeutics in a research report on Wednesday. Finally, Bank of America cut their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $74.50.

CRISPR Therapeutics Stock Performance

Shares of CRSP opened at $49.72 on Wednesday. The company has a 50 day moving average price of $41.89 and a 200-day moving average price of $46.17. CRISPR Therapeutics has a fifty-two week low of $36.52 and a fifty-two week high of $91.10. The stock has a market capitalization of $4.26 billion, a PE ratio of -17.57 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Tuesday, February 11th. The company reported ($0.44) EPS 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%. Equities research analysts forecast that CRISPR Therapeutics will post -5.08 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 15,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $55.10, for a total transaction of $826,500.00. Following the sale, the chief executive officer now owns 181,540 shares in the company, valued at approximately $10,002,854. This trade represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is owned by company insiders.

Institutional Trading of CRISPR Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in CRISPR Therapeutics during the third quarter valued at $40,000. Darwin Wealth Management LLC purchased a new position in CRISPR Therapeutics during the third quarter valued at $43,000. Highline Wealth Partners LLC purchased a new position in CRISPR Therapeutics during the fourth quarter valued at $39,000. Western Pacific Wealth Management LP lifted its holdings in CRISPR Therapeutics by 100.0% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after purchasing an additional 500 shares in the last quarter. Finally, Eastern Bank purchased a new position in CRISPR Therapeutics during the third quarter valued at $70,000. Institutional investors and hedge funds 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.