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Needham Thinks Crispr Therapeutics AG’s Stock is Going to Recover

Needham analyst Gil Blum maintained a Buy rating on Crispr Therapeutics AG (CRSPResearch Report) today and set a price target of $170.00. The company’s shares closed last Tuesday at $60.97, close to its 52-week low of $55.35.

According to TipRanks.com, Blum ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -38.5% and a 7.7% success rate. Blum covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Aeglea Biotherapeutics, and Rocket Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Crispr Therapeutics AG with a $146.33 average price target, representing a 143.9% upside. In a report issued on February 14, Brookline Capital Markets also initiated coverage with a Buy rating on the stock with a $143.00 price target.

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Crispr Therapeutics AG’s market cap is currently $4.49B and has a P/E ratio of 12.81.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRSP in relation to earlier this year.

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CRISPR Therapeutics AG engages in the development and commercialization of therapies derived from genome-editing technology. Its proprietary platform CRISPR/Cas9-based therapeutics allows for precise and directed changes to genomic DNA. The company was founded by Rodger Novak, Emmanuelle Charpentier, Shaun Patrick Foy, Matthew Porteus, Daniel Anderson, Chad Cowan and Craig Mellow in 2014 and is headquartered in Zug, Switzerland.

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