Analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Crispr Therapeutics AG and keeping the price target at $80.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Mitchell Kapoor has given his Buy rating due to a combination of factors that highlight Crispr Therapeutics AG’s promising developments and market opportunities. The company is on the verge of a significant milestone with the anticipated approval of CASGEVY, which could bring a substantial financial boost by December 2024. Additionally, the upcoming presentation of CTX310 Phase 1 data at the American Heart Association Scientific Sessions is expected to showcase the potential of one-time gene editing in treating severe hypertriglyceridemia and mixed dyslipidemia, offering a competitive edge over existing therapies.
Another factor contributing to the Buy rating is the entry of SRSD107 into Phase 2 testing, marking the first clinical validation for Crispr’s siRNA platform. This advancement opens up a lucrative market opportunity in anticoagulation, with the potential to capture a share of the $20 billion market. The differentiation of SRSD107, demonstrated by its impressive knockdown of FXI activity and safety profile, positions it well against competitors. The outcome of competitor trials will be crucial, but positive results could further validate Crispr’s approach and mitigate risks, reinforcing the Buy recommendation.
In another report released on September 18, J.P. Morgan also initiated coverage with a Buy rating on the stock with a $70.00 price target.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRSP in relation to earlier this year.