CRISPR Therapeutics AG (NASDAQ:CRSP) has a diversified pipeline with potential CTX001 commercialization and CTX110 potential approval expected in 2024, according to BMO Capital Markets.
The CRISPR Therapeutics Analyst: Kostas Biliouris initiated coverage of CRISPR Therapeutics with an Outperform rating and a price target of $98.
The CRISPR Therapeutics Thesis: The company is a leader in the gene-editing space, Biliouris said in the initiation note.
He mentioned three reasons for CRISPR being a biotech winner:
- “Potential CTX001 commercialization in hemoglobinopathies in ~2024E can confer a first-mover advantage and a significant revenue stream providing durable downside protection,” the analyst wrote.
- The company’s first-gen allogeneic, CTX110, could be potentially approved in 2024 and validate the CAR T platform, which can provide long-term upside, he mentioned.
- “CRISPR’s rich pipeline and partnerships encompass versatile editing and delivery approaches, providing optionality and increasing the overall probability of success,” Biliouris further stated.
CRSP Price Action: Shares of CRISPR Therapeutics had risen by 7.91% to $69.75 at the time of publication Friday morning.
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