Crispr Therapeutics AG (NASDAQ:CRSP) – Jefferies Financial Group upped their Q3 2020 earnings estimates for Crispr Therapeutics in a report released on Tuesday, July 28th. Jefferies Financial Group analyst M. Raycroft now anticipates that the company will post earnings per share of ($1.15) for the quarter, up from their prior estimate of ($1.20). Jefferies Financial Group also issued estimates for Crispr Therapeutics’ Q4 2020 earnings at ($1.21) EPS, FY2020 earnings at ($4.78) EPS, FY2021 earnings at ($3.48) EPS, FY2022 earnings at ($3.00) EPS, FY2023 earnings at ($1.78) EPS and FY2024 earnings at $2.73 EPS.
Crispr Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Monday, July 27th. The company reported ($1.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.35). Crispr Therapeutics had a net margin of 6.77% and a return on equity of 2.35%. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $19.77 million. During the same quarter last year, the company earned ($1.01) earnings per share. The business’s revenue was down 86.2% on a year-over-year basis.
A number of other analysts have also recently weighed in on the company. William Blair reiterated a “buy” rating on shares of Crispr Therapeutics in a research report on Tuesday, July 28th. Wells Fargo & Co increased their target price on Crispr Therapeutics from $95.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Roth Capital increased their target price on Crispr Therapeutics from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, June 19th. SunTrust Banks assumed coverage on Crispr Therapeutics in a report on Tuesday, July 14th. They set a “buy” rating and a $140.00 target price on the stock. Finally, Barclays increased their target price on Crispr Therapeutics from $65.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Crispr Therapeutics presently has an average rating of “Buy” and a consensus price target of $90.93.
Shares of NASDAQ:CRSP opened at $85.46 on Friday. The business’s fifty day moving average price is $80.79 and its two-hundred day moving average price is $59.93. Crispr Therapeutics has a fifty-two week low of $32.30 and a fifty-two week high of $97.82. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 187.74 and a beta of 2.35.
Large investors have recently added to or reduced their stakes in the business. Nikko Asset Management Americas Inc. raised its position in shares of Crispr Therapeutics by 23.5% during the first quarter. Nikko Asset Management Americas Inc. now owns 3,766,541 shares of the company’s stock worth $159,739,000 after purchasing an additional 716,988 shares during the period. Morgan Stanley raised its position in shares of Crispr Therapeutics by 233.6% during the first quarter. Morgan Stanley now owns 851,519 shares of the company’s stock worth $36,113,000 after purchasing an additional 596,255 shares during the period. Wellington Management Group LLP raised its position in shares of Crispr Therapeutics by 1.4% during the first quarter. Wellington Management Group LLP now owns 708,952 shares of the company’s stock worth $30,066,000 after purchasing an additional 9,616 shares during the period. Capital International Investors raised its position in shares of Crispr Therapeutics by 47.5% during the first quarter. Capital International Investors now owns 553,115 shares of the company’s stock worth $23,458,000 after purchasing an additional 178,115 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Crispr Therapeutics by 23.1% during the first quarter. Wells Fargo & Company MN now owns 501,519 shares of the company’s stock worth $21,270,000 after purchasing an additional 94,137 shares during the period. 57.93% of the stock is currently owned by hedge funds and other institutional investors.
In other Crispr Therapeutics news, COO Lawrence Otto Klein sold 25,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $60.40, for a total value of $1,510,000.00. Following the transaction, the chief operating officer now owns 45,000 shares of the company’s stock, valued at $2,718,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bradley J. Phd Bolzon sold 20,000 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $73.93, for a total value of $1,478,600.00. The disclosure for this sale can be found here. Insiders have sold 290,214 shares of company stock worth $21,181,054 in the last ninety days. 21.40% of the stock is currently owned by insiders.
About Crispr Therapeutics
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, an ex vivo CRISPR gene-edited therapy for treating patients suffering from dependent beta thalassemia or severe sickle cell disease in which a patient's hematopoietic stem cells are engineered to produce high levels of fetal hemoglobin in red blood cells.
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