Zacks Investment Research Upgrades Crispr Therapeutics (CRSP) to “Strong-Buy”
Crispr Therapeutics (NASDAQ:CRSP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $42.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.63% from the company’s current price.
According to Zacks, “CRISPR Therapeutics AG is a gene-editing company. It focused on the development of transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 gene-editing platform. CRISPR Therapeutics AG is headquartered in Basel, Switzerland. “
Several other analysts have also issued reports on CRSP. BidaskClub lowered shares of Crispr Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, June 13th. Chardan Capital restated a “buy” rating and issued a $72.50 price objective on shares of Crispr Therapeutics in a report on Wednesday, August 8th. Citigroup reduced their price objective on shares of Crispr Therapeutics from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, August 24th. Cann restated a “hold” rating on shares of Crispr Therapeutics in a report on Monday, September 17th. Finally, Raymond James started coverage on shares of Crispr Therapeutics in a report on Thursday, September 20th. They issued an “underperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $62.47.
Crispr Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Wednesday, August 8th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.19). The company had revenue of $1.09 million during the quarter, compared to analysts’ expectations of $1.47 million. Crispr Therapeutics had a negative net margin of 245.57% and a negative return on equity of 39.58%. As a group, equities analysts predict that Crispr Therapeutics will post -2.92 earnings per share for the current year.
Large investors have recently modified their holdings of the business. Signaturefd LLC increased its stake in Crispr Therapeutics by 123.8% during the second quarter. Signaturefd LLC now owns 2,350 shares of the company’s stock worth $138,000 after purchasing an additional 1,300 shares during the period. Royal Bank of Canada increased its stake in Crispr Therapeutics by 91.9% during the first quarter. Royal Bank of Canada now owns 26,620 shares of the company’s stock worth $1,217,000 after purchasing an additional 12,751 shares during the period. First Mercantile Trust Co. purchased a new stake in Crispr Therapeutics during the second quarter worth about $141,000. BlackRock Inc. increased its stake in Crispr Therapeutics by 3.6% during the first quarter. BlackRock Inc. now owns 572,218 shares of the company’s stock worth $26,156,000 after purchasing an additional 19,660 shares during the period. Finally, Jasper Ridge Partners L.P. purchased a new stake in Crispr Therapeutics during the second quarter worth about $322,000. Institutional investors own 39.13% 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, which targets sickle cell disease and beta-thalassemia with an ex vivo approach whereby cells are harvested from a patient, treated with a CRISPR/Cas9-based therapeutic and reintroduced into the patient.
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