Citi raised the firm’s price target on Crispr Therapeutics to $88 from $70 and keeps a Buy rating on the shares after the FDA approved Casvegy for adults and adolescents with sickle cell disease. The firm suspects some investors are reluctant to own the stock into the launch given slow uptake of other recently approved gene therapies. However, Citi believes the market is continuing to undervalue the broader potential for Crispr’s platform.
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Read More on CRSP:
- Vertex (NASDAQ:VRTX), CRISPR Therapeutics Slip despite Sickle Cell Treatment Approval
- Crispr says Casgevy approval triggers $200M milestone payment
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- Vertex and Crispr announce FDA approval of Casgevy for sickle cell disease
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