Crispr Therapeutics (NASDAQ:CRSP) Stock Rating Upgraded by Oppenheimer

Crispr Therapeutics (NASDAQ:CRSP) was upgraded by equities research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, November 12th, Marketbeat.com reports. The brokerage presently has a $65.00 target price on the stock. Oppenheimer’s target price would indicate a potential downside of 9.85% from the company’s previous close. Oppenheimer also issued estimates for Crispr Therapeutics’ Q1 2020 earnings at ($0.87) EPS, Q2 2020 earnings at ($0.95) EPS, Q3 2020 earnings at ($1.29) EPS, Q4 2020 earnings at ($1.38) EPS, FY2021 earnings at ($4.29) EPS, FY2022 earnings at ($4.70) EPS and FY2023 earnings at ($1.07) EPS.

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Several other research firms have also recently issued reports on CRSP. Barclays upped their price target on shares of Crispr Therapeutics from $59.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Crispr Therapeutics in a report on Monday, October 21st. Chardan Capital set a $72.50 price target on shares of Crispr Therapeutics and gave the company a “buy” rating in a report on Monday, October 21st. ValuEngine raised shares of Crispr Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, William Blair reaffirmed a “hold” rating on shares of Crispr Therapeutics in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $69.54.

CRSP traded down $1.03 during trading on Tuesday, hitting $72.10. 1,328,631 shares of the company’s stock were exchanged, compared to its average volume of 701,470. The firm has a market cap of $3.96 billion, a P/E ratio of -20.96 and a beta of 3.30. The stock has a 50 day moving average price of $53.47 and a 200 day moving average price of $47.06. The company has a current ratio of 8.32, a quick ratio of 8.32 and a debt-to-equity ratio of 0.06. Crispr Therapeutics has a 1 year low of $22.22 and a 1 year high of $74.00.

Crispr Therapeutics (NASDAQ:CRSP) last announced its earnings results on Monday, October 28th. The company reported $2.40 earnings per share for the quarter, beating the consensus estimate of ($0.95) by $3.35. The business had revenue of $211.93 million during the quarter, compared to the consensus estimate of $6.32 million. Crispr Therapeutics had a negative net margin of 5.30% and a negative return on equity of 2.60%. Analysts forecast that Crispr Therapeutics will post 0.65 earnings per share for the current fiscal year.

In related news, President Rodger Novak sold 33,618 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $70.00, for a total value of $2,353,260.00. Following the sale, the president now owns 33,618 shares of the company’s stock, valued at approximately $2,353,260. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Pablo J. Cagnoni sold 7,500 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $55.00, for a total transaction of $412,500.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at approximately $412,500. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,118 shares of company stock worth $3,620,760. Corporate insiders own 21.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Benjamin Edwards Inc. grew its position in Crispr Therapeutics by 96.4% in the 2nd quarter. Benjamin Edwards Inc. now owns 546 shares of the company’s stock valued at $26,000 after buying an additional 268 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Crispr Therapeutics by 13.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,870 shares of the company’s stock valued at $118,000 after buying an additional 343 shares in the last quarter. Traynor Capital Management Inc. grew its position in Crispr Therapeutics by 5.8% in the 3rd quarter. Traynor Capital Management Inc. now owns 6,845 shares of the company’s stock valued at $280,000 after buying an additional 375 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Crispr Therapeutics by 2.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 18,201 shares of the company’s stock valued at $746,000 after buying an additional 386 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in Crispr Therapeutics by 7.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 7,019 shares of the company’s stock valued at $331,000 after buying an additional 467 shares in the last quarter. Hedge funds and other institutional investors own 49.81% of the company’s stock.

About Crispr Therapeutics

CRISPR Therapeutics AG, a gene editing company, focuses on developing transformative gene-based medicines for the treatment of serious human diseases using its regularly interspaced short palindromic repeats associated protein-9 (CRISPR/Cas9) gene-editing platform in Switzerland. Its lead product candidate is CTX001, an ex vivo CRISPR gene-edited therapy for treating patients suffering from dependent beta thalassemia or severe sickle cell disease in which a patient's hematopoietic stem cells are engineered to produce high levels of fetal hemoglobin in red blood cells.

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Analyst Recommendations for Crispr Therapeutics (NASDAQ:CRSP)

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