Citi analyst Yigal Nochomovitz maintained a Buy rating on Crispr Therapeutics AG (CRSP – Research Report) yesterday and set a price target of $82.00.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors that highlight the strategic moves by Crispr Therapeutics AG. The company’s recent venture into the siRNA space, despite being a shift from its traditional gene-editing focus, is seen as a positive step. This move is driven by the pursuit of assets that have a high probability of clinical success and are positioned in lucrative markets.
Furthermore, the Sirius deal is viewed favorably as it involves bleeding disorders, which are well-understood biologically, and siRNA, which is a proven therapeutic approach. The financial terms of the deal are considered manageable, and the potential for rapid advancement into Phase 2 trials for SRSD107 in total knee arthroplasty is promising. Additionally, the management’s assurance that the Sirius deal will not negatively impact spending, with an overall downward trend expected, adds to the positive outlook for Crispr Therapeutics AG.
Nochomovitz covers the Healthcare sector, focusing on stocks such as Arvinas Holding Company, Travere Therapeutics, and Summit Therapeutics. According to TipRanks, Nochomovitz has an average return of 2.7% and a 38.37% success rate on recommended stocks.
In another report released on May 16, Bank of America Securities also maintained a Buy rating on the stock with a $79.00 price target.