Research Analysts Set Expectations for CRSP FY2024 Earnings

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

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

Several other equities analysts have also recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Barclays decreased their price objective on shares of 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. Bank of America cut their price target on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday. JMP Securities reissued a “market outperform” rating and set a $86.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, December 20th. Finally, StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research report on Monday, December 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $78.38.

CRISPR Therapeutics Stock Performance

Shares of CRSP opened at $41.29 on Thursday. The company’s 50-day simple moving average is $46.63 and its 200-day simple moving average is $48.94. CRISPR Therapeutics has a 1 year low of $38.20 and a 1 year high of $91.10. The stock has a market capitalization of $3.52 billion, a PE ratio of -14.59 and a beta of 1.68.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds have recently made changes to their positions in the stock. Baker BROS. Advisors LP increased its position in CRISPR Therapeutics by 743.1% during the 3rd quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company’s stock worth $39,608,000 after purchasing an additional 743,075 shares in the last quarter. State Street Corp lifted its holdings in shares of CRISPR Therapeutics by 25.0% during the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company’s stock valued at $140,611,000 after acquiring an additional 599,304 shares in the last quarter. Farallon Capital Management LLC purchased a new stake in CRISPR Therapeutics during the 2nd quarter worth $28,625,000. Marshall Wace LLP acquired a new stake in CRISPR Therapeutics in the 2nd quarter valued at $10,078,000. Finally, Private Advisor Group LLC lifted its stake in shares of 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 purchasing an additional 64,076 shares in the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 30,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.62, for a total transaction of $1,668,600.00. Following the transaction, the chief executive officer now owns 196,540 shares of the company’s stock, valued at $10,931,554.80. This represents a 13.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel James R. Kasinger sold 1,089 shares of the company’s stock in a transaction 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 transaction, the general counsel now owns 62,597 shares of the company’s stock, valued at $2,896,989.16. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,382 shares of company stock worth $2,744,179. 4.10% of the stock is owned by corporate 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.