Crispr Therapeutics AG: A Balanced Hold Rating Amidst Pipeline Progress and Financial Caution

Wells Fargo analyst Yanan Zhu has maintained their neutral stance on CRSP stock, giving a Hold rating today.

Yanan Zhu has given his Hold rating due to a combination of factors including Crispr Therapeutics AG’s (CRSP) recent financial performance, developments in their pipeline, and regulatory advancements. Despite the company reporting a greater net loss per share than consensus estimates, the analyst recognizes the ongoing progress in their pipeline, such as regulatory submissions for CASGEVY and the expectation to report preliminary data for other therapies within the year. The cash position at the end of the quarter also contributes to the Hold rating, alongside adjustments made to the discounted cash flow-based price target (PT) based on model updates.

Furthermore, Zhu acknowledges CRSP’s efforts in expanding their in vivo gene editing pipeline, with clinical trials for CTX310 and CTX320 ongoing, and the initiation of studies for new preclinical programs. The company has also demonstrated promising preliminary data for some therapies in preclinical models. However, despite these positive aspects, the Hold rating suggests a cautious approach, possibly due to the uncertainties surrounding the commercial success of CRSP’s products, the timeline of regulatory approvals, and the actual clinical outcomes of ongoing and future trials.

Zhu covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Iovance Biotherapeutics, and Avidity Biosciences. According to TipRanks, Zhu has an average return of 11.3% and a 35.88% success rate on recommended stocks.

In another report released today, Barclays also maintained a Hold rating on the stock with a $67.00 price target.

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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.