Buy Rating on Crispr Therapeutics AG Backed by Exa-cel’s Precision and Favorable Safety Profile

Salim Syed, an analyst from Mizuho Securities, maintained the Buy rating on Crispr Therapeutics AG (CRSP – Research Report). The associated price target remains the same with $99.00.

Salim Syed has given his Buy rating due to a combination of factors surrounding the potential of Crispr Therapeutics AG’s gene-editing therapy, exa-cel (Casgevy). One of the primary reasons for this optimistic rating is the absence of off-target editing, as highlighted in recent publications by the New England Journal of Medicine. The correspondence article specifically pointed out that no off-target effects have been detected, which speaks to the precision of the CRISPR-Cas9 editing technology used in Casgevy. This is significant as it suggests a favorable safety profile, a crucial aspect of drug development and regulatory approval.
Furthermore, the FDA has acknowledged the risk of off-target editing in Casgevy’s FDA label, but noted that such events have not been observed. This contrasts with the treatments by competitors, which include warnings about possible oncogenic risks. Salim Syed finds this distinction important, as it may position Casgevy as a differentiated and perhaps safer option in the competitive gene-editing therapy space. The absence of identified safety concerns and the potential for market differentiation contribute to the Buy rating, reflecting an expectation of strong performance for Crispr Therapeutics AG’s stock.

In another report released on April 18, Citi also maintained a Buy rating on the stock with a $89.00 price target.

Based on the recent corporate insider activity of 15 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.