Brian Cheng, an analyst from J.P. Morgan, has initiated a new Buy rating on Crispr Therapeutics AG (CRSP).
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Brian Cheng has given his Buy rating due to a combination of factors that highlight Crispr Therapeutics AG’s promising future. The company is approaching significant milestones within its portfolio, particularly with its partnered product, Casgevy, which is expected to drive substantial growth. The robust cash reserves of approximately $2 billion provide a solid foundation for valuation, distinguishing CRSP from its peers in the gene-editing sector.
Furthermore, Cheng sees potential in CRSP’s diversified strategy, which includes autoimmune cell therapy and in vivo cardiovascular projects. These initiatives present a balanced approach to risk and reward, with the autoimmune CAR-T therapy offering a quicker path to market. The ongoing interest in cardiovascular treatments also positions CRSP favorably in the pharmaceutical landscape. Overall, Cheng’s analysis suggests that CRSP is well-equipped to capitalize on its strategic opportunities, justifying the Buy rating.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $80.00 price target.
Based on the recent corporate insider activity of 22 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.