CRISPR Therapeutics AG (NASDAQ:CRSP – Get Rating) – Oppenheimer investment analysts cut their third-quarter 2022 EPS estimates for CRISPR Therapeutics shares in a report released Tuesday, August 9. Oppenheimer analyst J. Olson now expects the company to earn ($2.41) per share for the quarter, down from his previous forecast of ($2.40). Oppenheimer currently has an “outperform” rating and a target price of $122.00 on the stock. CRISPR Therapeutics’ current annual earnings consensus estimate is ($8.98) per share. Oppenheimer also released estimates for CRISPR Therapeutics fourth quarter 2022 earnings at ($2.51) EPS, fiscal year 2022 earnings at ($9.51) EPS, fiscal year 2023 earnings at ($9.51) EPS, $9.60) EPS, FY2024 earnings at ($11.63) EPS and FY2025 earnings at ($7.56) EPS.
CRISPR Therapeutics (NASDAQ:CRSP – Get Rating) last reported quarterly results on Monday, August 8. The company reported ($2.40) EPS for the quarter, missing the consensus estimate of ($2.21) by ($0.19). CRISPR Therapeutics had a negative net margin of 4,274.02% and a negative return on equity of 27.40%. The company posted revenue of $0.20 million in the quarter, compared to $2.20 million expected by analysts. In the same quarter a year earlier, the company posted EPS of $9.44. The company’s quarterly revenue was down 100.0% year over year.
Other research analysts have also published research reports on the stock. Stifel Nicolaus raised his price target on CRISPR Therapeutics shares from $55.00 to $69.00 in a report on Tuesday. Royal Bank of Canada lowered its price target on CRISPR Therapeutics shares from $85.00 to $79.00 and set an “sector performance” rating for the company in a research report on Tuesday. Chardan Capital lowered its price target on CRISPR Therapeutics shares from $164.00 to $154.00 and set a “buy” rating for the company in a research report on Tuesday. Credit Suisse Group raised its price target on CRISPR Therapeutics shares from $74.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Goldman Sachs Group lowered its price target on CRISPR Therapeutics shares from $52.00 to $46.00 and set a “neutral” rating for the company in a Tuesday, May 24 research report. One equity research analyst gave the stock a sell rating, seven gave the company a hold rating and ten gave the company a buy rating. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $115.31.
Performance of CRISPR Therapeutics shares
The NASDAQ CRSP opened at $78.87 on Thursday. CRISPR Therapeutics has a one-year low of $42.51 and a one-year high of $139.61. The company’s 50-day moving average price is $71.86 and its 200-day moving average price is $63.40. The company has a market capitalization of $6.15 billion, a price-earnings ratio of -9.58 and a beta of 1.93.
Insiders place their bets
In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 25,000 shares of CRISPR Therapeutics in a trade on Wednesday, July 27. The shares were sold at an average price of $75.91, for a total value of $1,897,750.00. Following completion of the transaction, the CEO now owns 290,279 shares of the company, valued at $22,035,078.89. The transaction was disclosed in a document filed with the SEC, accessible via the SEC’s website. 10.70% of the shares are currently held by company insiders.
Hedge funds weigh in on CRISPR Therapeutics
Hedge funds have recently increased or reduced their stakes in the company. Elkhorn Partners Limited Partnership increased its holdings in CRISPR Therapeutics by 180.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 350 shares of the company worth $27,000 after purchasing an additional 225 shares during the period. IronBridge Private Wealth LLC acquired a new position in CRISPR Therapeutics in the fourth quarter worth $30,000. First PREMIER Bank acquired a new stake in CRISPR Therapeutics in the first quarter worth $31,000. Allworth Financial LP increased its stake in CRISPR Therapeutics by 443.8% in the first quarter. Allworth Financial LP now owns 609 shares of the company valued at $38,000 after buying an additional 497 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in CRISPR Therapeutics by 1,128.0% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 614 shares of the company valued at $39,000 after purchasing an additional 564 shares in the last quarter. Institutional investors and hedge funds hold 56.12% of the company’s shares.
About CRISPR Therapeutics
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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 breakthrough gene-editing technology that enables precise and directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs in a wide range of therapeutic areas, including hemoglobinopathies, oncology, regenerative medicine and rare diseases.
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