CRISPR Therapeutics (NASDAQ:CRSP) Releases Quarterly Earnings Results, Beats Estimates By $0.41 EPS

CRISPR Therapeutics (NASDAQ:CRSP) announced its quarterly earnings data on Tuesday. The company reported ($1.01) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.41, Briefing.com reports. The business had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. During the same quarter in the previous year, the firm posted ($1.41) earnings per share.

CRISPR Therapeutics Stock Performance

CRISPR Therapeutics stock traded down $0.28 during trading on Wednesday, reaching $50.08. 1,377,741 shares of the company’s stock were exchanged, compared to its average volume of 1,451,615. CRISPR Therapeutics has a 52-week low of $43.42 and a 52-week high of $91.10. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of -15.48 and a beta of 1.67. The company’s 50-day moving average is $47.22 and its two-hundred day moving average is $52.25.

Insider Buying and Selling

In other news, CEO Samarth Kulkarni sold 4,293 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $198,680.04. Following the completion of the transaction, the chief executive officer now directly owns 226,540 shares in the company, valued at approximately $10,484,271.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 4,293 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $198,680.04. Following the sale, the chief executive officer now owns 226,540 shares in the company, valued at approximately $10,484,271.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction 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 approximately $2,896,989.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Chardan Capital reduced their price objective on CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of CRISPR Therapeutics in a research report on Wednesday. Barclays cut their target price on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and set a $53.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday. Finally, Stifel Nicolaus decreased their price objective on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.94.

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.