CRISPR Therapeutics’ (CRSP) Buy Rating Reiterated at HC Wainwright

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $65.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 50.12% from the company’s previous close.

A number of other brokerages have also recently weighed in on CRSP. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research report on Monday, December 30th. Royal Bank of Canada dropped their target price on shares of CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating for the company in a report on Wednesday. Bank of America reduced their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and set a $86.00 price objective on shares of CRISPR Therapeutics in a research note on Friday, December 20th. Finally, TD Cowen raised CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 target price on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus price target of $75.56.

CRISPR Therapeutics Trading Up 9.3 %

CRSP stock opened at $43.30 on Thursday. The company’s 50-day moving average price is $42.06 and its 200 day moving average price is $46.25. CRISPR Therapeutics has a 52 week low of $36.52 and a 52 week high of $91.10. The company has a market cap of $3.70 billion, a P/E ratio of -15.30 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. On average, equities research analysts expect that CRISPR Therapeutics will post -5.08 earnings per share for the current year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.10, for a total transaction of $826,500.00. Following the completion of the sale, the chief executive officer now directly owns 181,540 shares in the company, valued at $10,002,854. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new stake in CRISPR Therapeutics during the 4th quarter worth approximately $39,000. Western Pacific Wealth Management LP grew its stake 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 worth $39,000 after buying an additional 500 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in CRISPR Therapeutics during the third quarter worth approximately $40,000. Darwin Wealth Management LLC purchased a new position in shares of CRISPR Therapeutics in the 3rd quarter valued at $43,000. Finally, Eastern Bank acquired a new position in shares of CRISPR Therapeutics during the 3rd quarter valued at $70,000. 69.20% of the stock is owned by institutional investors and hedge funds.

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.