Salim Syed, an analyst from Mizuho Securities, maintained the Buy rating on Crispr Therapeutics AG (CRSP – Research Report). The associated price target is $82.00.
Salim Syed’s Buy rating of Crispr Therapeutics AG is founded on multiple positive developments within the company. The recent approval of Casgevy by the European Commission for the treatment of Sickle Cell Disease (SCD) and Transfusion-Dependent Thalassemia (TDT) is a significant milestone, particularly given the absence of severe warning labels and a sizable patient population in Europe. Additionally, the stock’s recent positive momentum can be attributed to factors such as short covering and anticipation around the company’s other programs, like the upcoming clinical trial for CTX112 in autoimmune diseases, which is reflective of a broader industry trend rewarding cellular therapies for such conditions.
Furthermore, Syed’s optimism is bolstered by the company’s financial position following a $280 million registered direct offering, which has strengthened its balance sheet with over $2.1 billion in cash and no debt. This robust financial standing could potentially lead to self-sustainability, as suggested by the company, or provide the means to further develop their pipeline if earlier data-points prove successful. This combination of strong clinical progress, favorable market trends, and a solid financial foundation contributes to Syed’s Buy rating, indicating a positive outlook for Crispr Therapeutics AG’s future performance.
In another report released yesterday, Piper Sandler also reiterated a Buy rating on the stock with a $105.00 price target.
See the top stocks recommended by analysts >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
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:
- Cathie Wood’s ARK Investment bought 280K shares of Crispr Therapeutics today
- Crispr Therapeutics Secures Funding Through Share Issuance
- Crispr Therapeutics announces $280M registered diect offering
- 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)
