Brokers Issue Forecasts for CRSP FY2024 Earnings

CRISPR Therapeutics AG (NASDAQ:CRSP) – Stock analysts at Brookline Capital Management lifted their FY2024 earnings per share (EPS) estimates for shares of CRISPR Therapeutics in a research note issued to investors on Monday, January 6th. Brookline Capital Management analyst L. Cann now anticipates that the company will earn ($5.16) per share for the year, up from their prior estimate of ($5.18). The consensus estimate for CRISPR Therapeutics’ current full-year earnings is ($5.13) per share.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.41. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. The business had revenue of $0.60 million for the quarter, compared to the consensus estimate of $6.65 million. During the same quarter in the prior year, the business posted ($1.41) EPS.

CRSP has been the subject of a number of other reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $53.00 target price on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Chardan Capital reissued a “buy” rating and issued a $94.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. Bank of America decreased their target price on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays decreased their target price on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Finally, StockNews.com raised CRISPR Therapeutics to a “sell” rating in a research report on Monday, December 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $78.38.

CRISPR Therapeutics Stock Performance

CRSP opened at $39.69 on Thursday. CRISPR Therapeutics has a one year low of $38.20 and a one year high of $91.10. The company has a market cap of $3.39 billion, a P/E ratio of -14.02 and a beta of 1.68. The business’s 50-day simple moving average is $46.39 and its 200-day simple moving average is $48.83.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds have recently bought and sold shares of CRSP. Baker BROS. Advisors LP increased its stake in CRISPR Therapeutics by 743.1% in the 3rd quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company’s stock valued at $39,608,000 after purchasing an additional 743,075 shares in the last quarter. State Street Corp increased its stake in CRISPR Therapeutics by 25.0% in the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company’s stock valued at $140,611,000 after purchasing an additional 599,304 shares in the last quarter. Farallon Capital Management LLC purchased a new position in CRISPR Therapeutics in the 2nd quarter valued at approximately $28,625,000. Marshall Wace LLP purchased a new position in CRISPR Therapeutics in the 2nd quarter valued at approximately $10,078,000. Finally, Private Advisor Group LLC increased its position in CRISPR Therapeutics by 472.9% during the second quarter. Private Advisor Group LLC now owns 77,627 shares of the company’s stock worth $4,193,000 after buying an additional 64,076 shares in the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Samarth Kulkarni sold 4,293 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $198,680.04. Following the completion of the sale, the chief executive officer now directly owns 226,540 shares of the company’s stock, valued at $10,484,271.20. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following the completion of the sale, the general counsel now directly owns 62,597 shares of the company’s stock, valued at $2,896,989.16. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,382 shares of company stock valued at $2,744,179 in the last three months. 4.10% of the stock is currently owned by company insiders.

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.