Crispr Therapeutics (NASDAQ:CRSP) Upgraded to “Outperform” at Oppenheimer

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

CRSP has been the topic of several other research reports. Chardan Capital set a $72.50 target price on Crispr Therapeutics and gave the company a buy rating in a research report on Monday, October 21st. ValuEngine raised Crispr Therapeutics from a sell rating to a hold rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a buy rating and set a $62.00 target price on shares of Crispr Therapeutics in a research report on Wednesday, July 31st. Jefferies Financial Group initiated coverage on Crispr Therapeutics in a research report on Thursday, August 1st. They set a buy rating and a $64.00 target price on the stock. Finally, Canaccord Genuity initiated coverage on Crispr Therapeutics in a research report on Friday, July 26th. They set a buy rating and a $72.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Crispr Therapeutics presently has an average rating of Buy and a consensus target price of $57.95.

Crispr Therapeutics stock traded up $1.81 during midday trading on Tuesday, reaching $56.87. 763,200 shares of the stock traded hands, compared to its average volume of 749,333. The stock’s fifty day moving average is $43.31 and its 200-day moving average is $44.57. The stock has a market cap of $3.04 billion, a P/E ratio of -16.53 and a beta of 3.15. Crispr Therapeutics has a 12 month low of $22.22 and a 12 month high of $57.40. The company has a quick ratio of 8.32, a current ratio of 8.32 and a debt-to-equity ratio of 0.06.

Crispr Therapeutics (NASDAQ:CRSP) last announced its earnings results on Monday, October 28th. The company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.95) by $3.35. The business had revenue of $211.93 million for the quarter, compared to analysts’ expectations of $6.32 million. Crispr Therapeutics had a negative return on equity of 2.60% and a negative net margin of 5.30%. On average, equities analysts predict that Crispr Therapeutics will post 0.64 EPS for the current fiscal year.

In other news, Director Pablo J. Cagnoni sold 7,500 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $55.00, for a total value of $412,500.00. Following the completion of the sale, the director now owns 7,500 shares of the company’s stock, valued at approximately $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 owned by company insiders.

Several institutional investors have recently bought and sold shares of CRSP. BSW Wealth Partners purchased a new position in Crispr Therapeutics in the 2nd quarter worth $39,000. Balyasny Asset Management LLC purchased a new position in Crispr Therapeutics in the 2nd quarter worth $5,165,000. BNP Paribas Arbitrage SA purchased a new position in Crispr Therapeutics in the 2nd quarter worth $41,000. Bank of New York Mellon Corp raised its stake in Crispr Therapeutics by 116.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 33,091 shares of the company’s stock worth $1,559,000 after acquiring an additional 17,810 shares during the last quarter. Finally, ARK Investment Management LLC raised its stake in Crispr Therapeutics by 34.7% in the 2nd quarter. ARK Investment Management LLC now owns 2,724,349 shares of the company’s stock worth $128,317,000 after acquiring an additional 701,332 shares during the last quarter. 51.09% of the stock is owned by hedge funds and other institutional investors.

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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