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CRISPR Therapeutics (CRSP) Down 13.6% Since Last Earnings Report: Can It Rebound?
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It has been about a month since the last earnings report for CRISPR Therapeutics AG (CRSP - Free Report) . Shares have lost about 13.6% 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 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 drivers.
Q4 Earnings & Sales Beat Estimates
CRISPR Therapeutics reported earnings of $1.10 per share for the fourth quarter of 2023 against the Zacks Consensus Estimate of a loss of 40 cents. In the year-ago period, the company had incurred a loss of $1.41 per share.
CRISPR reported total revenues of $201.2 million in the fourth quarter of 2023, beating the Zacks Consensus Estimate of $138 million. The total figure comprises the $200 million collaboration revenues received from Vertex and the grant revenues of $1.2 million. In the year-ago quarter, revenues were less than $0.1 million.
Quarter in Detail
In the reported quarter, research and development expenses fell 8% year over year to $95.1 million, owing to reduced variable external research and manufacturing costs.
Also, general and administrative expenses declined 22% to $16.5 million due to a fall in external professional costs.
Collaboration expenses in the quarter reached $20 million, up 193% year over year. The massive uptick was primarily driven by an additional $20 million licensing fee owed to Vertex in connection with the collaboration agreement between the companies.
As of Dec 31, 2023, the company had cash, cash equivalents, marketable securities and accounts receivables of $1.70 billion compared with $1.74 billion as of Sep 30, 2023.
Full-Year Results
For 2023, CRISPR generated total revenues of $371.2 million, reflecting a substantial increase over the previous year’s revenues of $1.2 million. Most of the 2023 total revenues comprised collaboration revenues from Vertex.
For the same period, the company reported a loss of $1.94 per share compared with the year-ago loss of $8.36.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates review.
The consensus estimate has shifted -6.31% due to these changes.
VGM Scores
At this time, CRISPR Therapeutics has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, CRISPR Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
CRISPR Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Blueprint Medicines (BPMC - Free Report) , has gained 4.7% over the past month. More than a month has passed since the company reported results for the quarter ended December 2023.
Blueprint Medicines reported revenues of $71.96 million in the last reported quarter, representing a year-over-year change of +85.6%. EPS of -$1.82 for the same period compares with -$2.65 a year ago.
For the current quarter, Blueprint Medicines is expected to post a loss of $1.65 per share, indicating a change of +23.3% from the year-ago quarter. The Zacks Consensus Estimate has changed +1.6% over the last 30 days.
Blueprint Medicines has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.
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CRISPR Therapeutics (CRSP) Down 13.6% 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 13.6% 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 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 drivers.
Q4 Earnings & Sales Beat Estimates
CRISPR Therapeutics reported earnings of $1.10 per share for the fourth quarter of 2023 against the Zacks Consensus Estimate of a loss of 40 cents. In the year-ago period, the company had incurred a loss of $1.41 per share.
CRISPR reported total revenues of $201.2 million in the fourth quarter of 2023, beating the Zacks Consensus Estimate of $138 million. The total figure comprises the $200 million collaboration revenues received from Vertex and the grant revenues of $1.2 million. In the year-ago quarter, revenues were less than $0.1 million.
Quarter in Detail
In the reported quarter, research and development expenses fell 8% year over year to $95.1 million, owing to reduced variable external research and manufacturing costs.
Also, general and administrative expenses declined 22% to $16.5 million due to a fall in external professional costs.
Collaboration expenses in the quarter reached $20 million, up 193% year over year. The massive uptick was primarily driven by an additional $20 million licensing fee owed to Vertex in connection with the collaboration agreement between the companies.
As of Dec 31, 2023, the company had cash, cash equivalents, marketable securities and accounts receivables of $1.70 billion compared with $1.74 billion as of Sep 30, 2023.
Full-Year Results
For 2023, CRISPR generated total revenues of $371.2 million, reflecting a substantial increase over the previous year’s revenues of $1.2 million. Most of the 2023 total revenues comprised collaboration revenues from Vertex.
For the same period, the company reported a loss of $1.94 per share compared with the year-ago loss of $8.36.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates review.
The consensus estimate has shifted -6.31% due to these changes.
VGM Scores
At this time, CRISPR Therapeutics has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, CRISPR Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
CRISPR Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Blueprint Medicines (BPMC - Free Report) , has gained 4.7% over the past month. More than a month has passed since the company reported results for the quarter ended December 2023.
Blueprint Medicines reported revenues of $71.96 million in the last reported quarter, representing a year-over-year change of +85.6%. EPS of -$1.82 for the same period compares with -$2.65 a year ago.
For the current quarter, Blueprint Medicines is expected to post a loss of $1.65 per share, indicating a change of +23.3% from the year-ago quarter. The Zacks Consensus Estimate has changed +1.6% over the last 30 days.
Blueprint Medicines has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.