Analyst Mani Foroohar from Leerink Partners reiterated a Buy rating on Crispr Therapeutics AG (CRSP – Research Report) and decreased the price target to $58.00 from $60.00.
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Mani Foroohar’s rating is based on several promising developments at Crispr Therapeutics AG. The company reported positive initial Phase 1 data for its CTX310 gene editor, which targets ANGPTL3 in patients with elevated LDL and triglycerides. The data showed significant dose-dependent reductions in these lipids, with no severe adverse events or significant changes in liver enzymes, indicating a favorable safety profile.
Additionally, the company has made progress with its Casgevy treatment, with over 65 authorized treatment centers activated and approximately 90 patients having undergone their first cell collection. Crispr Therapeutics AG also has upcoming data releases for CTX320 and CTX112, which could further diversify its pipeline beyond Casgevy. Despite a slight reduction in the price target to $58, the company’s strong cash position and ongoing advancements in its pipeline support the Buy rating.
In another report released yesterday, Chardan Capital also maintained a Buy rating on the stock with a $82.00 price target.
Based on the recent corporate insider activity of 20 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.