We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CRISPR Therapeutics AG (CRSP) Down 16.5% Since Last Earnings Report: Can It Rebound?
Read MoreHide Full Article
It has been about a month since the last earnings report for CRISPR Therapeutics AG (CRSP - Free Report) . Shares have lost about 16.5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is CRISPR Therapeutics AG due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
CRISPR Therapeutics Q2 Earnings & Sales Miss Estimates
CRISPR Therapeutics reported second-quarter 2022 net loss per share of $2.40, wider than the Zacks Consensus Estimate of a loss of $2.23. The company had posted earnings of $9.44 per share in the year-ago period.
CRISPR Therapeutics' total revenues, which comprise grants and collaboration revenues, came in at $0.2 million for the second quarter compared with $900 million reported in the year-ago period. The revenues comprised entirely of collaboration revenues. Revenues substantially missed the Zacks Consensus Estimate of $4.0 million.
The year-ago quarter’s revenues included a $900.0 million upfront payment from partner Vertex Pharmaceuticals related to an amended agreement for the development of exa-cel.
Quarter in Detail
For the reported quarter, research and development expenses were $123.2 million, up 49.7% from the year-ago figure to support the development of its immuno-oncology programs and costs related to the new U.S. R&D headquarters.
General and administrative expenses rose 8.8% year over year to $26.3 million.
As of Jun 30, 2022, the company had cash, cash equivalents and marketable securities of $2.07 billion compared with $2.2 billion as of Mar 31, 2022.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
VGM Scores
Currently, CRISPR Therapeutics AG has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, CRISPR Therapeutics AG has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
CRISPR Therapeutics AG (CRSP) Down 16.5% Since Last Earnings Report: Can It Rebound?
It has been about a month since the last earnings report for CRISPR Therapeutics AG (CRSP - Free Report) . Shares have lost about 16.5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is CRISPR Therapeutics AG due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
CRISPR Therapeutics Q2 Earnings & Sales Miss Estimates
CRISPR Therapeutics reported second-quarter 2022 net loss per share of $2.40, wider than the Zacks Consensus Estimate of a loss of $2.23. The company had posted earnings of $9.44 per share in the year-ago period.
CRISPR Therapeutics' total revenues, which comprise grants and collaboration revenues, came in at $0.2 million for the second quarter compared with $900 million reported in the year-ago period. The revenues comprised entirely of collaboration revenues. Revenues substantially missed the Zacks Consensus Estimate of $4.0 million.
The year-ago quarter’s revenues included a $900.0 million upfront payment from partner Vertex Pharmaceuticals related to an amended agreement for the development of exa-cel.
Quarter in Detail
For the reported quarter, research and development expenses were $123.2 million, up 49.7% from the year-ago figure to support the development of its immuno-oncology programs and costs related to the new U.S. R&D headquarters.
General and administrative expenses rose 8.8% year over year to $26.3 million.
As of Jun 30, 2022, the company had cash, cash equivalents and marketable securities of $2.07 billion compared with $2.2 billion as of Mar 31, 2022.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
VGM Scores
Currently, CRISPR Therapeutics AG has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, CRISPR Therapeutics AG has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.