Buy Rating for CRISPR Therapeutics: Strategic Collaboration with Sirius Therapeutics to Enhance Pipeline and Capture Anticoagulant Market Share

William Blair analyst Sami Corwin has maintained their bullish stance on CRSP stock, giving a Buy rating yesterday.

Sami Corwin has given his Buy rating due to a combination of factors including CRISPR Therapeutics’ strategic collaboration with Sirius Therapeutics. This partnership is expected to enhance CRISPR’s pipeline by incorporating Sirius’s lead program, SRSD107, which targets Factor XI to address thromboembolism, a condition affecting a significant number of individuals annually in the U.S.
Furthermore, the collaboration agreement outlines a 50/50 cost and profit-sharing structure, with CRISPR leading commercialization efforts in the U.S. This strategic move not only diversifies CRISPR’s portfolio but also positions it to potentially capture a substantial market share in the anticoagulant therapy space, given SRSD107’s promising Phase I trial results showing significant reductions in FXI levels with minimal bleeding risks.

In another report released yesterday, Citi 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.