Buy Rating Affirmed for Crispr Therapeutics AG on Strong Pipeline and Financial Health

Leerink Partners analyst Mani Foroohar has maintained their bullish stance on CRSP stock, giving a Buy rating yesterday.

Mani Foroohar has given his Buy rating due to a combination of factors surrounding Crispr Therapeutics AG’s recent advancements and future prospects. The company’s successful activation of over 25 treatment centers worldwide and progress in securing reimbursement access in various regions, including the Kingdom of Saudi Arabia, Bahrain, and France, are significant developments. This expansion of access demonstrates the company’s growth in delivering its therapies for sickle cell disease and transfusion-dependent thalassemia. Moreover, the anticipated release of preliminary data from Phase 1/2 trials for CTX112 in B-cell malignancies and the expected initiation of Phase 1 trials in systemic lupus erythematosus further underscore the company’s robust pipeline and potential for future revenue streams.
Additionally, Crispr Therapeutics AG’s financial health appears strong, with R&D expenses reported below expectations, providing a more favorable financial outlook than anticipated. The company’s liquidity, with $2.1 billion in cash at the end of the first quarter, establishes a solid foundation for sustained research and development activities. The upcoming catalysts, such as additional trial initiations and clinical updates for several therapeutics in the pipeline, present opportunities for significant advancements and milestones that could drive the stock’s performance. These factors collectively contribute to Foroohar’s confidence in the stock and substantiate the Buy rating, maintaining an $80 price target.

In another report released yesterday, JMP Securities also maintained a Buy rating on the stock with a $86.00 price target.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRSP in relation to earlier this year.

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Crispr Therapeutics AG (CRSP) Company Description:

CRISPR Therapeutics AG engages in the development and commercialization of therapies derived from genome-editing technology. Its proprietary platform CRISPR/Cas9-based therapeutics allows for precise and directed changes to genomic DNA. The company was founded by Rodger Novak, Emmanuelle Charpentier, Shaun Patrick Foy, Matthew Porteus, Daniel Anderson, Chad Cowan and Craig Mellow in 2014 and is headquartered in Zug, Switzerland.