Yahoo Finance Why Is CRISPR Therapeutics AG (CRSP) Up 1.8% Since Last Earnings Report?
A month has gone by since the last earnings report for CRISPR Therapeutics AG (CRSP). Shares have added about 1.8% in that time frame, underperforming 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.
Q1 Earnings & Revenues Beat Estimates
CRISPR Therapeutics reported a net loss per share of 67 cents in the first quarter of 2023, narrower than the Zacks Consensus Estimate and our estimate of a loss of $1.67 and $2.49, respectively. The company had posted a loss of $2.32 per share in the year-ago period.
CRISPR Therapeutics' total revenues, comprising collaboration revenues, were $100 million in the first quarter, primarily attributed to an upfront payment from Vertex. In March 2023, the company entered into a non-exclusive licensing agreement with Vertex to accelerate the development of the latter’s hypoimmune cell therapies for T1D using the former’s gene-editing technology.
Revenues substantially beat the Zacks Consensus Estimate and our estimate of $38 million and $1 million, respectively. In the year-ago quarter, revenues were less than $1 million.
Quarter in Detail
For the reported quarter, research and development expenses fell 15% year over year to $99.9 million, driven by reduced variable external research and manufacturing costs.
Also, general and administrative expenses dipped 20% to $22.4 million due to a decline in external professional costs.
Collaboration expenses for the first quarter reached $42.2 million, up 38% year over year, due to manufacturing and pre-commercial costs on the exa-cel program.
As of Mar 31, 2023, CRISPR Therapeutics had cash, cash equivalents and marketable securities of $1.89 billion compared with $1.87 billion as of Dec 31, 2022.
How Have Estimates Been Moving Since Then?
It turns out, estimates review flatlined during the past month.
VGM Scores
Currently, CRISPR Therapeutics AG has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. However, the stock was allocated a grade of F on the value side, putting it in the lowest quintile 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
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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Repligen (RGEN), has gained 6.8% over the past month. More than a month has passed since the company reported results for the quarter ended March 2023.
Repligen reported revenues of $182.66 million in the last reported quarter, representing a year-over-year change of -11.5%. EPS of $0.64 for the same period compares with $0.92 a year ago.
Repligen is expected to post earnings of $0.50 per share for the current quarter, representing a year-over-year change of -45.1%. Over the last 30 days, the Zacks Consensus Estimate has changed -5%.
Repligen has a Zacks Rank #4 (Sell) 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 AG (CRSP) : Free Stock Analysis Report
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