Crispr Therapeutics (NASDAQ:CRSP) Upgraded to Outperform by Oppenheimer

Oppenheimer upgraded shares of Crispr Therapeutics (NASDAQ:CRSP) from a market perform rating to an outperform rating in a report issued on Tuesday morning, Briefing.com Automated Import reports. Oppenheimer currently has $65.00 target price on the stock. 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.

A number of other analysts have also recently weighed in on CRSP. Canaccord Genuity assumed coverage on Crispr Therapeutics in a research note on Friday, July 26th. They issued a buy rating and a $72.00 price target on the stock. Chardan Capital set a $72.50 price target on Crispr Therapeutics and gave the company a buy rating in a research note on Monday, October 21st. Needham & Company LLC restated a buy rating and issued a $62.00 price target on shares of Crispr Therapeutics in a research note on Wednesday, July 31st. Piper Jaffray Companies restated an overweight rating on shares of Crispr Therapeutics in a research note on Monday, October 21st. Finally, BTIG Research raised their price target on Crispr Therapeutics from $51.00 to $59.00 and gave the company a positive rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Crispr Therapeutics currently has a consensus rating of Buy and a consensus price target of $57.95.

Shares of NASDAQ:CRSP traded up $1.81 during midday trading on Tuesday, hitting $56.87. The company had a trading volume of 763,200 shares, compared to its average volume of 749,333. Crispr Therapeutics has a twelve month low of $22.22 and a twelve month high of $57.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 8.32 and a quick ratio of 8.32. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -16.53 and a beta of 3.15. The business’s 50-day simple moving average is $43.31 and its 200-day simple moving average is $44.57.

Crispr Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Monday, October 28th. The company reported $2.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.95) by $3.35. Crispr Therapeutics had a negative return on equity of 2.60% and a negative net margin of 5.30%. The company had revenue of $211.93 million for the quarter, compared to analysts’ expectations of $6.32 million. As a group, sell-side analysts forecast that Crispr Therapeutics will post 0.64 EPS for the current year.

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In other news, Director Pablo J. Cagnoni sold 7,500 shares of Crispr Therapeutics 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 sale, the director now owns 7,500 shares in the company, valued at $412,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Benjamin Edwards Inc. increased its position in shares of Crispr Therapeutics by 96.4% during the second quarter. Benjamin Edwards Inc. now owns 546 shares of the company’s stock worth $26,000 after purchasing an additional 268 shares in the last quarter. NEXT Financial Group Inc increased its position in shares of Crispr Therapeutics by 915.0% during the third quarter. NEXT Financial Group Inc now owns 609 shares of the company’s stock worth $25,000 after purchasing an additional 549 shares in the last quarter. US Bancorp DE increased its position in shares of Crispr Therapeutics by 553.7% during the second quarter. US Bancorp DE now owns 621 shares of the company’s stock worth $29,000 after purchasing an additional 526 shares in the last quarter. Coastal Investment Advisors Inc. acquired a new stake in shares of Crispr Therapeutics during the third quarter worth about $26,000. Finally, BSW Wealth Partners purchased a new position in shares of Crispr Therapeutics during the second quarter worth about $39,000. Institutional investors and hedge funds own 51.09% of the company’s stock.

Crispr Therapeutics Company Profile

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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