The Goldman Sachs Group Cuts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $57.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective lowered by The Goldman Sachs Group from $66.00 to $57.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of CRISPR Therapeutics from $53.00 to $49.00 and set a “hold” rating for the company in a research report on Thursday. HC Wainwright reiterated a “buy” rating and set a $65.00 target price on shares of CRISPR Therapeutics in a research report on Thursday. JMP Securities restated a “market outperform” rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research report on Thursday. Chardan Capital decreased their price objective on shares of CRISPR Therapeutics from $94.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a report on Monday, December 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.05.

CRISPR Therapeutics Price Performance

Shares of CRSP stock opened at $43.49 on Thursday. The business’s fifty day moving average price is $42.06 and its 200 day moving average price is $46.25. The firm has a market capitalization of $3.71 billion, a PE ratio of -15.37 and a beta of 1.67. CRISPR Therapeutics has a 1-year low of $36.52 and a 1-year high of $91.10.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in CRISPR Therapeutics during the third quarter valued at about $40,000. Darwin Wealth Management LLC purchased a new stake in shares of CRISPR Therapeutics during the 3rd quarter worth about $43,000. Highline Wealth Partners LLC acquired a new stake in CRISPR Therapeutics during the 4th quarter worth approximately $39,000. Western Pacific Wealth Management LP raised its holdings in CRISPR Therapeutics by 100.0% in the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after buying an additional 500 shares during the period. Finally, Eastern Bank acquired a new position in CRISPR Therapeutics during the third quarter valued at approximately $70,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

CRISPR Therapeutics Company Profile

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.