Analyst Silvan Tuerkcan of JMP Securities maintained a Buy rating on Crispr Therapeutics AG (CRSP – Research Report), with a price target of $86.00.
Silvan Tuerkcan has given his Buy rating due to a combination of factors, including the recent approval of Casgevy in the European Union (EU) for Sickle Cell Disease (SCD) and Transfusion-Dependent Thalassemia (TDT), and the direct offering to raise additional capital. The approval of Casgevy was expected and is a significant milestone for the company, particularly as it comes without a restrictive black box warning. This green light in the EU is crucial, especially after a competitor, BLUE, withdrew from the market, potentially leaving a favorable position for pricing and market access for Crispr Therapeutics AG.
Furthermore, Tuerkcan is optimistic about the company’s financial strength and ability to expedite its pipeline development, as evidenced by the successful direct offering at a 10% premium, which bolstered the company’s cash position. The early access agreement for Casgevy in France prior to formal reimbursement plans is seen as a positive indicator for the drug’s commercial prospects in the EU. The analyst’s increased confidence in the company’s strategic positioning and the infusion of capital to advance its pipeline has led to an increased price target of $86, derived from a discounted cash flow (DCF) analysis.
In another report released on February 7, Truist Financial also maintained a Buy rating on the stock with a $120.00 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.
Read More on CRSP:
- Crispr Therapeutics’ Gene Therapy Wins EU Approval
- European Commission Approves First CRISPR/Cas9 Gene-Edited Therapy, CASGEVY™ (exagamglogene autotemcel), for the Treatment of Sickle Cell Disease (SCD) and Transfusion-Dependent Beta Thalassemia (TDT)
- Is CRSP a Buy, Before Earnings?
- Crispr Therapeutics call volume above normal and directionally bullish
- Crispr Therapeutics price target lowered to $120 from $160 at Truist
