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Why Is CRISPR Therapeutics (CRSP) Down 7.7% Since Last Earnings Report?
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A month has gone by since the last earnings report for CRISPR Therapeutics AG (CRSP - Free Report) . Shares have lost about 7.7% 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 its most recent earnings report in order to get a better handle on the important catalysts.
Q2 Loss Wider-Than-Expected, Sales Miss
CRISPR Therapeutics incurred a loss of $1.49 per share in second-quarter 2024, which was wider than the Zacks Consensus Estimate of a loss of $1.37. In the year-ago period, the company had incurred a loss of 98 cents per share.
The company’s total revenues, though negligible, were entirely from grant revenues, which were $0.5 million in the second quarter. The reported figure significantly missed the Zacks Consensus Estimate of $8 million. In the year-ago quarter, the company generated collaboration revenues worth $70 million, which comprised a research milestone payment from Vertex.
Quarter in Detail
In the reported quarter, research and development expenses fell 21.1% year over year to $80.2 million, owing to lower variable external research and manufacturing costs.
Also, general and administrative expenses declined 2.6% year over year to $19.5 million in the second quarter.
Collaboration expenses in the quarter were $52.1 million, up 16.8% year over year. The uptick was primarily attributable to commercial and manufacturing costs.
As of Jun 30, 2024, the company had cash, cash equivalents, marketable securities and accounts receivables of $2 billion compared with $2.1 billion as of Mar 31, 2024.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -8.28% due to these changes.
VGM Scores
Currently, 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 trending downward 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 is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Alkermes (ALKS - Free Report) , a stock from the same industry, has gained 2.3%. The company reported its results for the quarter ended June 2024 more than a month ago.
Alkermes reported revenues of $399.13 million in the last reported quarter, representing a year-over-year change of -35.4%. EPS of $0.72 for the same period compares with $0.55 a year ago.
Alkermes is expected to post earnings of $0.81 per share for the current quarter, representing a year-over-year change of +26.6%. Over the last 30 days, the Zacks Consensus Estimate has changed +5.8%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Alkermes. Also, the stock has a VGM Score of A.
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Why Is CRISPR Therapeutics (CRSP) Down 7.7% Since Last Earnings Report?
A month has gone by since the last earnings report for CRISPR Therapeutics AG (CRSP - Free Report) . Shares have lost about 7.7% 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 its most recent earnings report in order to get a better handle on the important catalysts.
Q2 Loss Wider-Than-Expected, Sales Miss
CRISPR Therapeutics incurred a loss of $1.49 per share in second-quarter 2024, which was wider than the Zacks Consensus Estimate of a loss of $1.37. In the year-ago period, the company had incurred a loss of 98 cents per share.
The company’s total revenues, though negligible, were entirely from grant revenues, which were $0.5 million in the second quarter. The reported figure significantly missed the Zacks Consensus Estimate of $8 million. In the year-ago quarter, the company generated collaboration revenues worth $70 million, which comprised a research milestone payment from Vertex.
Quarter in Detail
In the reported quarter, research and development expenses fell 21.1% year over year to $80.2 million, owing to lower variable external research and manufacturing costs.
Also, general and administrative expenses declined 2.6% year over year to $19.5 million in the second quarter.
Collaboration expenses in the quarter were $52.1 million, up 16.8% year over year. The uptick was primarily attributable to commercial and manufacturing costs.
As of Jun 30, 2024, the company had cash, cash equivalents, marketable securities and accounts receivables of $2 billion compared with $2.1 billion as of Mar 31, 2024.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -8.28% due to these changes.
VGM Scores
Currently, 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 trending downward 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 is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Alkermes (ALKS - Free Report) , a stock from the same industry, has gained 2.3%. The company reported its results for the quarter ended June 2024 more than a month ago.
Alkermes reported revenues of $399.13 million in the last reported quarter, representing a year-over-year change of -35.4%. EPS of $0.72 for the same period compares with $0.55 a year ago.
Alkermes is expected to post earnings of $0.81 per share for the current quarter, representing a year-over-year change of +26.6%. Over the last 30 days, the Zacks Consensus Estimate has changed +5.8%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Alkermes. Also, the stock has a VGM Score of A.