Crispr Therapeutics (NASDAQ:CRSP) Upgraded by ValuEngine to “Strong-Buy”

ValuEngine upgraded shares of Crispr Therapeutics (NASDAQ:CRSP) from a buy rating to a strong-buy rating in a research report report published on Thursday, ValuEngine reports.

A number of other research analysts have also recently weighed in on CRSP. Needham & Company LLC restated a buy rating and issued a $62.00 price target on shares of Crispr Therapeutics in a research report on Wednesday. William Blair reiterated a hold rating on shares of Crispr Therapeutics in a research report on Tuesday. Evercore ISI started coverage on Crispr Therapeutics in a research report on Thursday, April 11th. They set an outperform rating for the company. Zacks Investment Research upgraded Crispr Therapeutics from a hold rating to a strong-buy rating and set a $55.00 price objective for the company in a research report on Tuesday, July 2nd. Finally, BidaskClub upgraded Crispr Therapeutics from a sell rating to a hold rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $58.00.

Shares of CRSP stock traded down $2.67 during mid-day trading on Thursday, reaching $49.89. The stock had a trading volume of 574,864 shares, compared to its average volume of 504,840. Crispr Therapeutics has a 12-month low of $22.22 and a 12-month high of $59.00. The firm has a market capitalization of $2.77 billion, a P/E ratio of -14.50 and a beta of 3.11. The firm’s 50-day moving average is $47.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.84 and a current ratio of 13.96.

Crispr Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Monday, July 29th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.84). Crispr Therapeutics had a negative net margin of 15,136.56% and a negative return on equity of 51.49%. The firm had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $47.57 million. During the same quarter in the prior year, the business earned ($0.82) EPS. The company’s quarterly revenue was down 70.8% compared to the same quarter last year. On average, equities analysts forecast that Crispr Therapeutics will post -3.86 EPS for the current fiscal year.

In other Crispr Therapeutics news, CEO Samarth Kulkarni sold 20,000 shares of Crispr Therapeutics stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $46.00, for a total value of $920,000.00. Following the completion of the sale, the chief executive officer now owns 185,801 shares in the company, valued at approximately $8,546,846. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Rodger Novak sold 50,000 shares of Crispr Therapeutics stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $45.00, for a total value of $2,250,000.00. Following the completion of the sale, the president now owns 898,007 shares of the company’s stock, valued at approximately $40,410,315. The disclosure for this sale can be found here. Insiders sold a total of 140,000 shares of company stock valued at $6,670,400 in the last 90 days. 21.40% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Swiss National Bank grew its holdings in Crispr Therapeutics by 28.6% in the 2nd quarter. Swiss National Bank now owns 48,600 shares of the company’s stock valued at $2,289,000 after buying an additional 10,800 shares during the period. Cookson Peirce & Co. Inc. acquired a new position in shares of Crispr Therapeutics in the 2nd quarter valued at about $382,000. Aperio Group LLC acquired a new position in shares of Crispr Therapeutics in the 2nd quarter valued at about $153,000. ARK Investment Management LLC lifted its stake in shares of Crispr Therapeutics by 34.7% in the 2nd quarter. ARK Investment Management LLC now owns 2,724,349 shares of the company’s stock valued at $128,317,000 after purchasing an additional 701,332 shares in the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Crispr Therapeutics in the 2nd quarter valued at about $41,000. Institutional investors own 48.92% 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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