These Analysts Slash Their Forecasts On CRISPR Therapeutics Following Q1 Results

CRISPR Therapeutics AG CRSP posted a loss for the first quarter on Tuesday.

The company posted a quarterly loss of $1.58 per share, compared to market estimates of a loss of $1.21 per share. The company posted sales of $865,000.

“CRISPR Therapeutics remains focused on executing our strategic priorities and advancing our portfolio of innovative therapies. We are highly encouraged by the initial data from our Phase 1 trial for CTX310, which demonstrates the power of our in vivo gene editing platform to deliver paradigm changing medicines to patients with serious cardiovascular disease,” said Samarth Kulkarni, Ph.D., Chairman and Chief Executive Officer of CRISPR Therapeutics. “Additionally, we are pleased with the continued progress of Casgevy and the broader pipeline, and we look forward to sharing further clinical updates in the months ahead.”

CRISPR Therapeutics shares dipped 11.9% to close at $33.16 on Tuesday.

These analysts made changes to their price targets on CRISPR Therapeutics following earnings announcement.

• Chardan Capital analyst Geulah Livshits maintained CRISPR Therapeutics with a Buy rating and lowered the price target from $84 to $82.
• Needham analyst Gil Blum maintained the stock with a Buy and lowered the price target from $84 to $81.

Considering buying CRSP stock? Here’s what analysts think: