It has been about a month since the last earnings report for CRISPR Therapeutics AG (CRSP). Shares have added about 45.9% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is CRISPR Therapeutics AG due for a pullback? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
CRISPR Therapeutics Q1 Earnings & Sales Miss Estimates
CRISPR Therapeutics reported first-quarter 2022 net loss per share of $2.32, wider than the Zacks Consensus Estimate of a loss of $1.91. The company had posted a loss of $1.51 per share in the year-ago period.
CRISPR Therapeutics’ total revenues, which comprise grants and collaboration revenues, came in at $0.9 million for the first quarter compared with $0.5 million reported in the year-ago period. The revenues included $0.17 million in collaboration revenues and $0.76 million in grant revenues. Revenues substantially missed the Zacks Consensus Estimate of $5.67 million
Quarter in Detail
For the reported quarter, research and development expenses were $118.2 million, up 67.4% 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 14.3% year over year to $28.0 million.
As of Mar 31, 2022, the company had cash, cash equivalents and marketable securities of $2.2 billion compared with $2.37 billion as of Dec 31, 2021.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates revision.
The consensus estimate has shifted -11.29% due to these changes.
VGM Scores
At this time, CRISPR Therapeutics AG has a poor Growth Score of F, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% 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 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.
Performance of an Industry Player
CRISPR Therapeutics AG is part of the Zacks Medical – Biomedical and Genetics industry. Over the past month, Global Blood Therapeutics (GBT), a stock from the same industry, has gained 1.2%. The company reported its results for the quarter ended March 2022 more than a month ago.
Global Blood reported revenues of $55.16 million in the last reported quarter, representing a year-over-year change of +41.3%. EPS of -$1.26 for the same period compares with -$1.21 a year ago.
Global Blood is expected to post a loss of $1.20 per share for the current quarter, representing a year-over-year change of -7.1%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.7%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Global Blood. Also, the stock has a VGM Score of F.
Zacks’ Top Picks to Cash in on Electric Vehicles
Big money has already been made in the Electric Vehicle (EV) industry. But, the EV revolution has not hit full throttle yet. There is a lot of money to be made as the next push for future technologies ramps up. Zacks’ Special Report reveals 5 picks investors
See 5 EV Stocks With Extreme Upside Potential >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
